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    13650 Eight Mile Rd Oak Park, MI 48237

    Sponsored
    For Sale
    $330,000

    Prime 8 Mile Rd location, high cap rate.

    Property size:
    3,867 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 3,867 square foot executive office building, located at 13650 West Eight Mile Road in Oak Park, Michigan, presents a compelling investment opportunity. Built in 1957 and completely renovated in 2010, the property boasts a prime location on Eight Mile Road, ensuring high visibility and accessibility. The building is currently occupied by a single tenant under a five-year lease, commencing November 1, 2022, with built-in annual rent escalations. This single-tenant investment offers a strong 8.50% capitalization rate, minimizing landlord responsibilities. The property's strategic location near major freeways provides convenient access for employees and clients. The asking price is $330,000. The tenant has a history of seven years in the building, demonstrating stability and commitment. This is a rare opportunity to acquire a well-maintained, high-traffic, executive office building in a desirable location with a secure, long-term lease. The property's zip code is 48237, and it is situated in Oakland County.

    Property Features for 13650 Eight Mile Rd

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    3,867 SF

    Building Details

    Year Built/Renovated
    1957/2010

    HighLights

    • 8.5% Cap Rate, Single‑Tenant Investment.
    • Long‑term tenant (7‑year history) with a new 5‑year lease commencing November 1, 2022.
    • High‑traffic location with prime frontage on Eight Mile Road.
    • Excellent access to major freeways.
    • High commercial visibility.
    • Annual rent escalations built into the lease.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Oak Park
    County
    Oakland
    State
    Michigan
    Longitude
    -83.1819404
    Latitude
    42.4457039

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    FAQs

    What type of property is this?
    Office Property / Space - Prime 8 Mile Rd location, high cap rate.
    Where is this office property / space located?
    The property is located at 13650 Eight Mile Rd Oak Park, MI.
    What is the asking price?
    The asking price for this property is $330,000.
    What are key features of this property?
    This property features: 8.5% Cap Rate, Single-Tenant Investment.; Long-term tenant (7-year history) with a new 5-year lease commencing November 1, 2022.; High-traffic location with prime frontage on Eight Mile Road.
    (248) 351-4367
    Request Owner's contact information
    13650 Eight Mile Rd Oak Park, MI 48237
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    Oak Park, MI 48237
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    Realmo Value Estimation

    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.

    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.

    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
    13650 Eight Mile Rd Oak Park, MI 48237
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