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    Freestanding Office Studio Title is generated by Realmo AI

    649 E 12 Mile Rd Street, Madison Heights, MI 48071

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    For Sale
    $200,000

    COMMERCIAL - Madison Heights, MI

    Property size:
    988 SF
    Lot size:
    0.10 Acres
    Price / SF:
    $202/SF
    Added:
    Oct 6, 2025
    Days on Market:
    242
    Last Refresh:
    Jun 4 at 3:06 am

    Property Features for 649 E 12 Mile Rd Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Rooms
    Basement
    Standard status
    Active
    APN
    2512376018
    Size
    988 SF
    Lot size
    0.10 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    4103

    Utilities

    Cooling system
    Central Air
    Water source
    Public

    We can help!

    Listing Contact
    Terence Watkins

    Listing agent Terence Watkins License #6501460209

    Listing office KW Platinum 31525 23 Mile Rd., Chesterfield, MI

    Listing date Oct 6, 2025

    MLS# 50190617

    Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Free‑standing office/studio at the corner of 12 Mile Road and Edward Rd at the red traffic light for easy access
    • Enclosed office spaces plus restroom, lunch room, and receiving room
    • Finished basement with a half restroom
    • Central air cooling
    • Public water source
    • Adjacent 40 ft x 110 ft lot included in the sale, with parcel ID for parking spaces

    Overview

    This freestanding office/studio has been cleaned and freshly painted and includes enclosed office spaces, a restroom, a lunch room, and a receiving room. A finished basement adds a half restroom, supporting day-to-day operations and extra workspace. The property is offered as an office building configured for multiple internal functions, including space for receiving or handling deliveries.

    Located on E 12 Mile Rd in Madison Heights, the building sits at the corner of Edward Rd, at a red traffic light, providing straightforward vehicle access. The listing also notes proximity to major shopping and freeways, which can be helpful for staff, customers, and vendors. An adjacent lot measuring 40 ft by 110 ft is included in the sale.

    For buyers or tenants seeking a standalone office setup, the combination of enclosed rooms and dedicated receiving area can support professional services, small business use, and teams that need both work space and a place to handle deliveries. The included adjacent lot provides on-site parking convenience as part of the overall package.
    Location Intelligence

    Current Use by Public Records

    Office buildings

    Map

    City
    Madison Heights
    County
    Oakland
    State
    Michigan
    Longitude
    -83.100375
    Latitude
    42.50514

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    FAQs

    What type of property is this?
    Office building - Freestanding studio with enclosed office areas, restroom, lunch room, receiving room, and finished basement support space.
    Where is this office building located?
    The property is located at 649 E 12 Mile Rd Street Madison Heights, MI.
    What is the asking price?
    The asking price for this property is $200,000.
    What are key features of this property?
    This property features: Free‑standing office/studio at the corner of 12 Mile Road and Edward Rd at the red traffic light for easy access; Enclosed office spaces plus restroom, lunch room, and receiving room; Finished basement with a half restroom
    (313) 797-1639
    We can help!
    Listing Contact
    Terence Watkins
    Real Estate License ID: 6501460209
    Learn More
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    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.

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    649 E 12 Mile Rd Street, Madison Heights, MI 48071
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