Multi-Room Wellness
37716 Hills Tech Drive, Farmington Hills, MI 48331
For Sale
Contact for pricing
Individually keyed rooms surround a shared central area, with a rear overhead door for deliveries.
Property Size1,914 SF
Price / SF$1.46
Days on Market37
Property Features for 37716 Hills Tech Drive
General Information
Standard status
Size
Property subtype
Additional Details
Condition
Currently Operating
Property Use
Building Details
Year Built
Construction
Tenancy
Listing Agency:
Good Company
(248) 733-5811
Listed By:
Justin Lyons · License #Michigan 442800
(810) 577-2050
Source:
Douglasroserealty
Added: Oct 2
Changed: Nov 7
Last Checked: Nov 7 at 1:10PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Good Company
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,914-square-foot property, built in 1984, is currently configured for salon-suite operations. Private rooms with keypad entry are arranged along the main hall and a connecting corridor, around a central common area. The entrance includes a reception vestibule, and the building also has a full restroom and a rear garage with an overhead door. The existing layout combines private spaces with shared interior areas.
The property is offered as a sublet. The building may be converted for office, laboratory, medical office, or industrial use. Parking is available in a shared lot.
The property is offered as a sublet. The building may be converted for office, laboratory, medical office, or industrial use. Parking is available in a shared lot.
Key Highlights
- 1,914 square feet; built in 1984
- Multiple private rooms have keypad entry
- Central common area and reception vestibule
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,595
Suggested Prices Based on Cap Rates
Cap Rate 5%
$411,900
$411.9K
Cap Rate 7%
$294,214
$294.2K
Cap Rate 9%
$228,833
$228.8K
Market Conditions
NOI Build-Up for 1,914 SF
Gross rent
$32.2K $16.80/SF
− Vacancy
−$2.7K −$1.43/SF
EGI
$29.4K $15.37/SF
− OpEx
−$8.8K −$4.61/SF
NOI
$20.6K $10.76/SF
Area
Oakland County, MI
Vacancy
8.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$411,900
Cap Rate 7%
$294,214
Cap Rate 9%
$228,833
Alternative Uses
Best Use
Retail
$294.2K
$257.4K – $343.3K
NOI $20,595 @ 7.0% cap · market cap 735.54%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$412.8K
$361.2K – $481.6K
NOI $28,898 @ 7.0% cap · market cap 1,032.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
146
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48331, MI
22,091
Population
9,297
Households
2.4
Avg Household Size
46
Median Age
67%
College-Educated
97%
High-School Grad
9.3 sq mi
ZIP Area
2,375
Density / Sq Mi
$121,101
Median Household Income
$64,255
Median Earnings
$1,743
Median Rent
$383,200
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Spa & wellness property - Individually keyed rooms surround a shared central area, with a rear overhead door for deliveries.
Where is this spa & wellness property located?
The property is located at 37716 Hills Tech Drive Farmington Hills, MI.
What are key features of this property?
This property features: 1,914 square feet; built in 1984; Multiple private rooms have keypad entry; Central common area and reception vestibule
