Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    41600 Six Mile Rd Northville, MI 48168

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Office building with 24,000 square feet available for sale.

    Type:Office
    Property size:
    24,000 SF
    Added:
    Mar 26, 2024
    Days on Market:
    742
    Last Refresh:
    Mar 17 at 1:25 pm

    Property Features for 41600 Six Mile Rd

    General Information

    Standard status
    Active
    Size
    24,000 SF
    Property subtype
    Office

    Building Details

    Year Built
    1978

    We can help!

    Listing Contact
    Steve Gordon

    Listing agent Steve Gordon License #MI 6502134760

    Listing office Signature Associates

    Listing date Mar 26, 2024

    Source Crexi

    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 Signature Associates

    Overview

    Northville Office Building For Sale

    This commercial real estate property, suitable for office use, offers 24,000 square feet of space. It is available for sale or lease.
    Location Intelligence

    Current Use by Public Records

    Northville Twp Police ... Police Department Henningsen Park Park

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Northville
    County
    Wayne
    State
    Michigan
    Longitude
    -83.4570604
    Latitude
    42.4300491

    Nearby Similar for Sale

    • $3,500,000
      5,594 SF

      Northville Equestrian Estate with Clinic

      9.5-acre equestrian estate with veterinary clinic and historic home.
      48525 Eight Mile Road W, Northville, MI 48167
      View Details
    • $525,000
      4,500 SF

      Historic Mixed-Use Building For Sale

      Historic mixed-use building with retail and residential income potential.
      9607 6 Mile Road, Northville, MI 48168
      View Details
    • $350,000
      1,886 SF

      Northville Office Development Opportunity

      Prime location for professional office in Bushwood Golf Course community.
      39467 DUN ROVIN Drive, Northville, MI 48168
      View Details
    • $1,500,000
      10,000 SF

      Northville Warehouse with Gravel Yard

      4,000 SF office, three overhead doors, 10-acre gravel yard.
      7586 Chubb Road, Northville, MI, 48168
      View Details
    • $1,560,000

      Northville Commercial Property for Sale

      Commercial property available in Northville, Michigan.
      41600 Six Mile Road, Northville, MI 48168
      View Details
    • $11,282,000
      73,335 SF

      Northville Warehouse Property For Sale

      73,335 SF warehouse/industrial property available in Northville, Michigan.
      15800 Centennial Drive, Northville, MI, 48168
      View Details
    • $1,699,000
      4,826 SF

      Downtown Northville Office Building

      4,826 SF office building with parking in downtown Northville.
      332 E Main St, Northville, MI 48167
      View Details
    • $1,497,000
      3,020 SF

      New Construction Home Near Downtown

      Luxury new construction home in Northville Township near downtown Northville.
      46159 SUNSET Street, Northville, MI 48167
      View Details
    • Contact for pricing
      18,000 SF

      Industrial Property on Centennial Drive

      Industrial property available for sale on Centennial Drive.
      15489 Centennial Dr, Northville, MI
      View Details
    • $4,800,000
      12,000 SF

      New Northville Multi-Tenant Building

      Newly constructed retail/office/medical building in affluent Northville, Michigan.
      40820 W Seven Mile Rd, Northville, MI 48167
      View Details
    • $2,395,000
      2,500 SF

      Industrial Property Near Salem Landfill

      Industrial building near Salem landfill with expansion potential.
      10110 Six Mile Rd, Northville, MI 48168
      View Details

    FAQs

    What type of property is this?
    Office building - Office building with 24,000 square feet available for sale.
    Where is this office building located?
    The property is located at 41600 Six Mile Rd Northville, MI.
    What is the asking price?
    The asking price for this property is $2,161,500.
    What are key features of this property?
    This property features: For sale or lease; Year Built: 1978
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Steve Gordon
    Real Estate License ID: MI 6502134760
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!