Property profile

35055 W 12 Mile Rd Farmington Hills, MI 48331

FOR LEASE
Office buildings
Property ID
US43-1550928
70,802 SF 3.85 ac lot Built 1984
Entity Owned 5-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

Drake Pointe Office Building, located at 35055 W Twelve Mile Road in Farmington Hills, Michigan, presents a prime opportunity for businesses seeking executive office space. This Class B building, totaling 70,000 square feet, offers 15,011 square feet of immediately available space within a multi-tenant environment. Constructed in 1985 and renovated in 1996, the building is situated on a generous 3.85-acre lot. The property's location within the Farmington Hills submarket of Oakland County provides excellent access to major transportation routes and amenities. The available space is ideal for a variety of businesses seeking a well-maintained and established office environment. The building's executive office subtype caters to businesses requiring a professional and sophisticated setting. This is a rare opportunity to secure significant space in a desirable location. The property's size and location make it suitable for a range of business needs, from small to medium-sized enterprises. Interested parties are encouraged to inquire about lease terms and availability. The zip code for this property is 48331. This listing presents a chance to establish a presence in a thriving business community. The building's history and recent renovations ensure a functional and updated workspace. The ample lot size provides ample parking and potential for future expansion.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1984
Total area 70,802 SF
Lot 3.85 ac (167,532 SF)
Zoning code BI
APN 22-23-16-101-006
UPID US43-1550928

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

35055 W 12 Mile Rd Farmington Hills, MI 48331
Farmington Hills metro Census 167000 DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$6.98M
CAP Approach CAP
by Request
Comparable Approach Comparable
$6.33M
Blend (final) Blend
$6.70M

Owner & transaction history

since 2021
Last sale
$6.9M
4 recorded transactions
2021
$6.9M
2015
Price N/A
2014
Price N/A
2000
Price N/A

Zoning & alternative use

BI · Farmington Hills, MI
Top alternative use upside
Medical building $11.2M +34.6%
Auto repair, garage $8.7M +4.5%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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