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    177 Wilshire Dr Troy, MI 48084

    Sponsored
    For Sale
    Contact for pricing

    286 Units, 94% Occupancy, Prime Location

    Property size:
    160,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional Class A, 286-unit luxury apartment building presents a compelling core investment opportunity. Located in Troy, Michigan, on a 2.04-acre lot at 177 Wilshire Dr, 48084, this 2021-built property boasts 160,000 square feet of meticulously designed living space. Currently operating at a 94% occupancy rate, the building commands a price per square foot of $666.25 and a price per unit of $372,727.27, totaling an asking price of $106,600,000. Situated in an affluent area of Troy, consistently ranked among Michigan's and the nation's top cities, the property benefits from a $144,000+ average household income within a 5-mile radius. Its prime location offers convenient access to I-75 and is just 1.5 miles from the Somerset Collection Mall, a top-performing shopping destination. Residents enjoy full-service amenities, including 24-hour on-site security, electronic monitoring, and on-site management. Nearby attractions include Somerset Golf Club, Springdale Golf Course, Philip J Huber Park, Children's Hospital, Oakland County Troy Airport, Beaumont Hospital Royal Oak, and Great Lakes Crossing Outlets. This fee-simple ownership opportunity provides a strong return on investment in a thriving market. The building's market-rent strategy and high occupancy rate underscore its financial strength and potential for continued growth.

    Property Features for 177 Wilshire Dr

    General Information

    Property type
    Multifamily properties
    Square Feet
    160,000 SF
    Class
    A
    Lot Size
    88,862 SF

    Building Details

    Year Built
    2021
    Units
    286

    HighLights

    • 94% Occupancy Rate, 286 Units
    • Located in Troy, MI, a Top 10 Michigan and Top 100 US city
    • Excellent I‑75 accessibility
    • 1.5 miles from the Somerset Collection Mall, a top‑performing US mall
    • $144,000+ average household income within a 5‑mile radius
    • Full‑service amenities including 24‑hour security, electronic monitoring, and on‑site management
    Property Profile Location Intelligence

    Current Use by Public Records

    ZEN City Center Apartment Complex

    Suggested Use

    Restaurant Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Building Supply Realty agency Daycare Center Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Troy
    County
    Oakland
    State
    Michigan
    Longitude
    -83.163254
    Latitude
    42.563757

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    FAQs

    What type of property is this?
    Multifamily property - 286 Units, 94% Occupancy, Prime Location
    Where is this multifamily property located?
    The property is located at 177 Wilshire Dr Troy, MI.
    What is the asking price?
    The asking price for this property is $106,600,000.
    What are key features of this property?
    This property features: 94% Occupancy Rate, 286 Units; Located in Troy, MI, a Top 10 Michigan and Top 100 US city; Excellent I-75 accessibility
    Request Owner's contact information
    177 Wilshire Dr Troy, MI 48084
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    Troy, MI 48084
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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
    177 Wilshire Dr Troy, MI 48084
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