Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Office Space Available For Lease Title is generated by Realmo AI

    33566 W 8 Mile Rd, Farmington, MI 48335

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office property available for lease in Farmington, Michigan.

    Type:Office
    Added:
    Mar 9, 2024
    Days on Market:
    799
    Last Refresh:
    Mar 17 at 1:20 pm

    Property Features for 33566 W 8 Mile Rd

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    1988

    Spaces For Lease

    at 33566 W 8 Mile Rd Contact us

    Suite C $15/Mo

    Size
    2,000 SF
    Type
    Office
    Contact us

    We can help!

    Listing Contact
    Marc Hames

    Listing agent Marc Hames License #6501406533

    Listing office Friedman Real Estate

    Listing date Mar 9, 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 Friedman Real Estate

    HighLights

    • Year Built: 1988

    Overview

    This commercial real estate property, identified as an office space, is available for lease.
    Location Intelligence

    Current Use by Public Records

    Office Spaces

    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.

    Similar Places Nearby

    • i3 Business Solutions East - CAI — 33900 W 8 Mile Rd, Livonia, MI 48152
    • Connexiz — 33900 W 8 Mile Rd, Farmington, MI 48335
    • Orion BAS — 33900 w 8 mile rd #149, farmington, mi 48335

    Location Insight

    • Map
    • Local Demand
    City
    Farmington
    County
    Oakland
    State
    Michigan
    Longitude
    -83.4013
    Latitude
    42.4628

    Nearby Similar for Lease

    • $1,400/Mo
      4,038 SF

      Updated Retail/Office Space Available

      Highly visible, updated retail/office suite in Farmington, Michigan.
      31822 Grand River Avenue, Farmington, MI 48336
      View Details
    • $2,000/Mo
      43,000 SF

      High-Traffic Commercial Property in Farmington

      Freestanding commercial property in high-traffic area, suitable for various uses.
      31154 Grand River Avenue, Farmington, MI 48336
      View Details
    • $1,400/Mo
      1,050 SF

      Updated Retail/Office Space Available

      Highly visible, updated retail/office suite in Farmington, Michigan.
      31822 Grand River Ave, Farmington, MI 48336
      View Details
    • Contact for pricing
      120,000 SF

      Modernized Office Building For Rent

      Three-story office building with modern amenities and excellent exposure.
      32605 W 12 Mile Rd Farmington, Hills, MI 48334
      View Details
    • Contact for pricing
      9,284 SF

      Turnkey Restaurant Space in Downtown Farmington

      Fully equipped restaurant with high-end finishes and excellent visibility.
      32821 Grand River Ave, Farmington, MI 48336
      View Details
    • $7 SF/Yr
      51,440 SF

      Renovated Warehouse/Distribution Building For Lease

      Recently renovated warehouse/distribution building with close highway access.
      24601 24641 Crestview Ct, Farmington, MI
      View Details
    • Contact for pricing

      Office Space Available For Rent

      Office space available for lease in Farmington, Michigan.
      33900 Eight Mile Rd, Farmington, MI 48335
      View Details
    • Contact for pricing
      66,036 SF

      Farmington Warehouse Space for Lease

      Warehouse spaces available for lease in Farmington, Michigan.
      37849-37879 Interchange Drive, Farmington, MI 48335
      View Details
    • Contact for pricing
      1,416 SF

      Retail Space on Orchard Lake

      Retail units available for lease with ample parking.
      28841 28859 Orchard Lake Road, Farmington, MI
      View Details
    • Contact for pricing

      Office and Retail Space Available

      Office and retail spaces with prominent signage and private entrances.
      Farmington, MI 48335
      View Details
    • Contact for pricing

      Class A Mixed-Use Building

      Class A mixed-use building with retail and office space.
      37085 Grand River Ave, Farmington, MI 48335
      View Details
    • Contact for pricing

      Orchard Lake Road Retail Space

      Retail and automotive property available for rent on Orchard Lake.
      23800 Orchard Lake Road , Farmington, MI 48336
      View Details

    FAQs

    What type of property is this?
    Office space - Office property available for lease in Farmington, Michigan.
    Where is this office space located?
    The property is located at 33566 W 8 Mile Rd Farmington, MI.
    What are key features of this property?
    This property features: Year Built: 1988
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Marc Hames
    Real Estate License ID: 6501406533
    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

    Thank You for Inquiry
    33566 W 8 Mile Rd, Farmington, MI 48335
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!