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    29600 Wixom Rd Wixom, MI 48393

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    For Lease
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    Commercial space available for lease on Wixom Road.

    Type:Retail, Office
    Added:
    May 13, 2023
    Days on Market:
    1070
    Last Refresh:
    Mar 17 at 1:19 pm

    Property Features for 29600 Wixom Rd

    General Information

    Standard status
    Active
    Property subtype
    Retail, Office

    Building Details

    Year Built
    1998

    Spaces For Lease

    at 29600 Wixom Rd Contact us

    We can help!

    Listing Contact
    Randy Thomas

    Listing agent Randy Thomas License #MI 6502106098

    Listing office Insite Commercial

    Listing date May 13, 2023

    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 Insite Commercial

    Overview

    Wixom Road Commercial Space

    This commercial real estate property, located on Wixom Road in Wixom, Michigan, is available for lease. The property is classified as a specialty property.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Allison Pyc Physician Park Medical Centers/Wixom ... Medical Clinic Starmoon Massage Alternative Medicine Practice Rita Khaneja Sharrow Pediatrician Dr. Andrew J. ... Physician

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Hair Salon Auto Repair Shop Building Supply Nail Salon Big Box & Wholesale Store Pharmacy Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Wixom
    County
    Oakland
    State
    Michigan
    Longitude
    -83.5360919
    Latitude
    42.508716

    Nearby Similar for Lease

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      New Construction Office Space Available

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      38000 Assembly Park Dr, Wixom, MI 48393
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      Wixom Warehouse or Office Space

      8,000 SF warehouse or office space available for rent.
      48260 Frank St, Wixom, MI 48393
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      Wixom Warehouse with Expansion Potential

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      Retail Space in North Park Plaza

      High-visibility retail spaces available in Wixom, near I-96.
      2051-2133 N Wixom Road, Wixom, MI 48393
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      Wixom Industrial Space Available

      Industrial property available for lease in Wixom, Michigan.
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      Wixom Warehouse with 32' Clearance

      81,881 SF warehouse space available for rent in Wixom, MI.
      29837 Wixom Road, Wixom, MI 48393
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      Wixom Manufacturing Space Available

      Manufacturing space with buss ducts and air lines available for rent.
      29425-29445 Wall St, Wixom, MI 48393
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      Wixom Warehouse Space Available

      110,000 sq ft warehouse space for lease in Wixom.
      30811 Century Drive, Wixom, MI, 48393
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      Retail Space in North Park Plaza

      Retail, office, and medical spaces available in Wixom, Michigan.
      2051 2133 N Wixom Rd, Wixom, MI
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    • $8/mo

      Wixom Industrial Suites Available

      Suites available in a well-maintained industrial park north of I-96.
      50200-50420 Dennis Industrial Ct., Wixom, MI 48393
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    • Contact for pricing

      Retail Space Near Pontiac Trail

      Retail space available south of Pontiac Trail, east of Wixom Road.
      31202 S. Old Wixom Road, Wixom, MI 48393
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    • Contact for pricing

      New Office Space For Lease

      Up to 25,000 SF of new office space available.
      38000 Assembly Park Dr, Wixom, MI
      View Details

    FAQs

    What type of property is this?
    Specialty property - Commercial space available for lease on Wixom Road.
    Where is this specialty property located?
    The property is located at 29600 Wixom Rd Wixom, MI.
    What are key features of this property?
    This property features: For Lease; Year Built: 1998
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Randy Thomas
    Real Estate License ID: MI 6502106098
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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.

    More about this property
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