High-Tech Office with Workout
For Sale
Contact for pricing
1700 Harmon Rd, Auburn Hills, MI 48326
13,222 SF office space suitable for sales, engineers, call center.
Property Size24,027 SF
Price / SF$112.37
Days on Market1885
Property Features for 1700 Harmon Rd
General Information
Standard status
Active
Size
24,027 SF
Property subtype
Office, Industrial
Zoning
LT. Industrial
Building Details
Year Built
1994
Stories
6
Listing Agency:
Signature Associates Warren
(248) 948-0103
Listed By:
Paul Hoge · License #MI 6502127881
Source:
Crexi
Added: Jun 23, 2021
Changed: Aug 8
Last Checked: Aug 8 at 4:06AM
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 Warren
Investment Insights
Based on property information with market context.
This 13,222 square-foot office space features state-of-the-art finishes and the option to include furniture. The first-class, high-tech office is suitable for a sales organization, engineers, or a call center. The layout includes private offices, conference rooms, a workout facility, and a kitchen area. The property offers heavy parking and main road frontage. The office space can be split. The property is situated on a 24,027 square foot lot.
Key Highlights
- State‑of‑the‑art office finishes and hi‑tech infrastructure.
- 13,222 sq. ft. of office space that can be split.
- Includes private offices, conference rooms, work‑out facility, and kitchen area.
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
$82,713
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
3.06%
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%
$1,654,260
$1.7M
Cap Rate 7%
$1,181,614
$1.2M
Cap Rate 9%
$919,033
$919.0K
Market Conditions
NOI Build-Up for 24,027 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
$144.2K $6.00/SF
− Vacancy
−$33.9K −$1.41/SF
EGI
$110.3K $4.59/SF
− OpEx
−$27.6K −$1.15/SF
NOI
$82.7K $3.44/SF
Area
Oakland County, MI
Vacancy
23.50%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,654,260
Cap Rate 7%
$1,181,614
Cap Rate 9%
$919,033
Alternative Uses
Best Use
Office B
$1.18M
$1.03M – $1.38M
NOI $82,713 @ 7.0% cap · market cap 3.06%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.18M
$4.53M – $6.05M
NOI $362,769 @ 7.0% cap · market cap 13.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
165
Businesses Nearby
Explore this area
Business Placement
Demographics for 48326, MI
22,228
Population
12,219
Households
1.8
Avg Household Size
36
Median Age
47%
College-Educated
93%
High-School Grad
16.9 sq mi
ZIP Area
1,315
Density / Sq Mi
$79,468
Median Household Income
$46,012
Median Earnings
$1,411
Median Rent
$235,300
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 - 13,222 SF office space suitable for sales, engineers, call center.
Where is this office building located?
The property is located at 1700 Harmon Rd Auburn Hills, MI.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: State‑of‑the‑art office finishes and hi‑tech infrastructure.; 13,222 sq. ft. of office space that can be split.; Includes private offices, conference rooms, work‑out facility, and kitchen area.
