Novi Courthouse Investment
For Sale
Contact for pricing
Pending
48150 Grand River Ave, Novi, MI 48374
Single-tenant, net-leased district courthouse occupied by Oakland County, Michigan.
Property Size25,833 SF
Lot Size4.74 Acres
Days on Market282
Property Features for 48150 Grand River Ave
General Information
Standard status
Pending
Size
25,833 SF
Total Parking Spaces
246
Lot size
4.74 Acres
Property subtype
Office, Retail
Zoning
OSC
Occupancy
100%
Lease Type
Net
Investment Type
Net Lease
Building Details
Year Built
1994
Year Renovated
2024
Tenancy
Single
Listing Agency:
Newmark | Chicago - 500 West Monroe St.
Listed By:
Andy Gallas · License #IL 475156024
Source:
Crexi
Added: Nov 11, 2025
Changed: Aug 8
Last Checked: Jul 25 at 3:06PM
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 Newmark | Chicago - 500 West Monroe St.
Investment Insights
Based on property information with market context.
This is an investment opportunity to acquire a single-tenant, net-leased district courthouse located at 48150 Grand River Avenue in Novi, Michigan. The property is a 25,833-square-foot facility occupied by Oakland County, Michigan, operating as the 52nd District Court, First Division. The County recently executed a new ten-year net lease commencing June 1, 2024. Constructed in 1994 as a build-to-suit facility specifically designed for courthouse operations, the property includes four courtrooms, judge's chambers, holding cells, and all necessary court support spaces. It is situated on a 4.74-acre site and provides 246 parking spaces. The modified net lease structure requires minimal landlord management responsibilities and features annual rent escalations of 2.0%, providing investors with built-in inflationary protection and consistent income growth throughout the term.
Key Highlights
- Single‑tenant net‑leased property occupied by Oakland County, Michigan (AAA/S&P).
- New ten‑year lease commencing June 1, 2024.
- Annual rent escalations of 2.0%.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,361
Businesses Nearby
Explore this area
Business Placement
Demographics for 48374, MI
18,008
Population
5,840
Households
3.1
Avg Household Size
39
Median Age
69%
College-Educated
97%
High-School Grad
9.1 sq mi
ZIP Area
1,979
Density / Sq Mi
$185,203
Median Household Income
$99,962
Median Earnings
$2,849
Median Rent
$551,500
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Single-tenant, net-leased district courthouse occupied by Oakland County, Michigan.
Where is this office building located?
The property is located at 48150 Grand River Ave Novi, MI.
What is the asking price?
The asking price for this property is $5,836,000.
What are key features of this property?
This property features: Single‑tenant net‑leased property occupied by Oakland County, Michigan (AAA/S&P).; New ten‑year lease commencing June 1, 2024.; Annual rent escalations of 2.0%.
