Troy Mixed-Use Office
For Sale
Contact for pricing
888 W Big Beaver Rd, Troy, MI 48084
Strategically located mixed-use office tower in Troy, Michigan.
Property Size297,792 SF
Price / SF$175.19
Days on Market1001
Property Features for 888 W Big Beaver Rd
General Information
Standard status
Active
Size
297,792 SF
Class
A
Total Parking Spaces
250
Property subtype
Office
Occupancy
90%
Lease Type
NNN
Investment Type
Core+
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
The Jonna Group at Colliers International
(248) 226-1611
Listed By:
Simon Jonna · License #MI 6501357188
Source:
Crexi
Added: Nov 15, 2023
Changed: Aug 8
Last Checked: Aug 8 at 11:13AM
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 The Jonna Group at Colliers International
Investment Insights
Based on property information with market context.
The City Center mixed-use office tower is strategically located in Troy, Michigan, providing connectivity in all directions. The property has a size of 297792 square feet and is suitable for commercial real estate purposes.
Key Highlights
- Strategically located in Troy, Michigan.
- City Center Mixed‑Use Office tower.
- Connects east‑west and south‑north.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$3,015,144
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.78%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$60,302,880
$60.3M
Cap Rate 7%
$43,073,486
$43.1M
Cap Rate 9%
$33,501,600
$33.5M
Market Conditions
NOI Build-Up for 297,792 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$5.36M $18.00/SF
− Vacancy
−$536.0K −$1.80/SF
EGI
$4.82M $16.20/SF
− OpEx
−$1.81M −$6.07/SF
NOI
$3.02M $10.13/SF
Area
Oakland County, MI
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$60,302,880
Cap Rate 7%
$43,073,486
Cap Rate 9%
$33,501,600
Alternative Uses
Best Use
Mixed Use
$43.07M
$37.69M – $50.25M
NOI $3,015,144 @ 7.0% cap · market cap 5.78%
Second Best
Office B
$14.64M
$12.81M – $17.09M
NOI $1,025,149 @ 7.0% cap · market cap 1.96%
Theoretical Best
Specialty Retail
$64.23M
$56.20M – $74.94M
NOI $4,496,183 @ 7.0% cap · market cap 8.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,071
Businesses Nearby
Explore this area
Business Placement
Demographics for 48084, MI
16,364
Population
7,402
Households
2.2
Avg Household Size
37
Median Age
73%
College-Educated
99%
High-School Grad
6.2 sq mi
ZIP Area
2,639
Density / Sq Mi
$106,004
Median Household Income
$71,494
Median Earnings
$1,648
Median Rent
$420,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Strategically located mixed-use office tower in Troy, Michigan.
Where is this office building located?
The property is located at 888 W Big Beaver Rd Troy, MI.
What is the asking price?
The asking price for this property is Off market.
What are key features of this property?
This property features: Strategically located in Troy, Michigan.; City Center Mixed‑Use Office tower.; Connects east‑west and south‑north.
