Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    31202 Beck Rd Novi, MI 48377

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Prime Novi location, 3,690 sq ft available.

    Lot size:
    37,397 SF

    Property Features for 31202 Beck Rd

    General Information

    Property type
    Neighborhood centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    37,397 SF

    Building Details

    Year Built
    2004

    Spaces For Lease

    at 31202 Beck Rd, Novi, MI 48377 Contact us

    We can help!

    Listing Contact
    Joel Kestenberg
    Joel Kestenberg

    Listing Agency: Friedman Real Estate Listing Agent: Joel Kestenberg

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional retail property, located at 31202 Beck Road in Novi, Michigan, offers a fantastic opportunity for a single-tenant business. The building, constructed in 2004, boasts a total of 37,397 square feet, with 3,690 square feet currently available for lease. Situated on a generous 9.72-acre lot in Oakland County (APN 22-04-100-038), this strip center provides ample parking with 425 spaces for customers and employees. The property is classified as Commercial, Strip Center and is ideal for a variety of retail uses. Its convenient location in Novi, Michigan (zip code 48377) offers excellent visibility and accessibility. The property's size and parking capacity make it suitable for businesses requiring significant space and customer parking. This is a single-tenant occupancy, providing a unique opportunity for a business seeking a prominent location in a thriving community. The property's 2004 construction suggests a relatively modern building with updated amenities. This is a rare opportunity to secure a substantial retail space in a desirable Novi location.
    Property Profile Location Intelligence

    Current Use by Public Records

    Neighborhood centers

    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.

    Location Insight

    • Map
    • Local Demand
    City
    Novi
    County
    Oakland
    State
    Michigan
    Longitude
    -83.5164399
    Latitude
    42.5238248

    Nearby Similar for Lease

    • Sponsored
      New
      Contact for pricing

      Crystal Glen

      Discover many ways to work your way in Crystal Glen
      39555 Orchard Hill Pl, Novi, MI 48375
      View Details
    • Contact for pricing
      130,680 SF

      Novi Road Ground Lease Opportunity

      Three 1-acre parcels, flexible development.
      24555 Novi Rd, Novi, MI 48375
      View Details
    • $2,550 /Mo

      Townhouse in Liberty Park, Novi

      Maintenance-free townhouse with 2 bedrooms, loft, and community amenities.
      44600 Ellery Ln, Novi, MI 48377
      View Details
    • $7 SF/Yr
      29,196 SF

      Grand River Ave Industrial Space

      7.61 Acres, 5,600 SF Available
      45237 Grand River Ave, Novi, MI 48375
      View Details
    • $13 SF/Yr
      176,160 SF

      Novi Research Park: Prime Office/Industrial Space

      Modern Novi Office & Warehouse Suites Available
      27175-27275 Haggerty Rd, Novi, MI 48377
      View Details
    • Contact for pricing
      148,812 SF

      Twelve Oaks Mall Retail Opportunity

      Prime retail space within a high-traffic regional shopping destination.
      27150 Novi Rd, Novi, MI 48377
      View Details
    • $25 SF/Yr
      50,028 SF

      Novi Medical Office Space Available

      Class A Office Suites, Flexible Sizes
      26750 Providence Pkwy, Novi, MI 48374
      View Details
    • Contact for pricing
      139,726 SF

      Novi Industrial Facility - 139,726 SF

      10-acre site, I-96 access, ready for build-out.
      45833 Twelve Mile Rd, Novi, MI 48377
      View Details
    • $14 SF/Yr
      18,350 SF

      Novi Executive Office Space

      8,850 SF Available, Updated 2022
      24245 Karim Blvd, Novi, MI 48375
      View Details
    • Contact for pricing
      40,000 SF

      Novi Warehouse: 40,000 SF Available

      Spacious Novi warehouse, ideal for industrial use.
      0 Heslip Dr, Novi, MI 48375
      View Details
    • $3,100 /Mo

      Well-Maintained Condo in Island Lake

      3-bedroom condo with resort-style amenities in Novi, MI.
      49987 Blackberry Trl, Novi, MI 48374
      View Details
    • Contact for pricing
      3,500 SF

      Novi Warehouse - I-96 Corridor

      New Construction, 3,500 SF Warehouse
      0 Grand River Ave, Novi, MI 48375
      View Details

    FAQs

    What type of property is this?
    Neighborhood center - Prime Novi location, 3,690 sq ft available.
    Where is this neighborhood center located?
    The property is located at 31202 Beck Rd Novi, MI.
    What are key features of this property?
    This property features: 3,690 SF of retail space available for sublease in Novi, MI.; Located in a strip center with national tenants including Planet Fitness, Great Clips, Jimmy John's, and the Secretary of State.; Excellent freeway access via I-96.
    (248) 330-5286 Call to check price and availability
    Request Owner's contact information
    31202 Beck Rd Novi, MI 48377
    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.
    31202 Beck Rd
    Novi, MI 48377
    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
    31202 Beck Rd Novi, MI 48377
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Joel Kestenberg
    Joel Kestenberg
    Real Estate License ID: 6501393354
    (248) 330-5286 (248) 324-2000
    Learn more
    Google sign-in failed. Please try again or use another login method.