Your AI Navigator in Commercial Real Estate
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

    35 Long Lake Rd Bloomfield Hills, MI 48304

    Sponsored
    For Lease
    Contact for pricing

    Prime Office Space, Drive-Thru Available

    Lot size:
    5,358 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional two-story office building, totaling 5,358 square feet, presents a unique investment opportunity in the desirable Bloomfield Hills, Michigan market. Originally constructed in 1956 and extensively renovated in 2004, the property boasts a single-tenant occupancy configuration, ideal for a variety of businesses. The building's convenient location at 35 W Long Lake Rd, near Woodward Ave, ensures high visibility and accessibility. The zoning is designated O-1, allowing for a range of office uses. The building features a highly desirable drive-thru, a rare and valuable amenity for office space. With a total square footage of 5,358 square feet, the building offers ample space for operations and potential expansion. The property's excellent condition and prime location make it an attractive option for businesses seeking a well-maintained and strategically positioned office space in a thriving community. The building's history as a former free-standing bank adds to its unique character and potential. This is a single-tenant property, offering a streamlined and efficient ownership experience. The address is 35 W Long Lake Rd, Bloomfield Hills, MI 48304. This property is zoned O-1 and offers a rare opportunity to acquire a well-maintained, strategically located office building in a highly sought-after area.

    Property Features for 35 Long Lake Rd

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    5,358 SF

    Building Details

    Year Built/Renovated
    1956/2004
    Stories
    2

    Unit(s) available at that property

    Space
    Size
    5,358 SF

    HighLights

    • Former freestanding bank with drive‑thru lane.
    • 5,358 SF two‑story office building with full basement.
    • Located in affluent Bloomfield Hills, MI, near Woodward Ave.
    • High daytime population within a 3‑mile radius.
    • Suitable for various uses including restaurant, financial institution, or medical office.
    • 31 on‑site parking spaces, with potential for additional parking easement.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Bloomfield Hills
    County
    Oakland
    State
    Michigan
    Longitude
    -83.2467115
    Latitude
    42.5833284

    Nearby Similar for Lease

    • $450 /Mo
      108 SF

      Professional Offices For Lease

      Professional office spaces available for lease in Bloomfield Hills, MI.
      2242 Telegraph Rd, Bloomfield Hills, MI 48302
      View Details
    • $700 /Mo
      225 SF

      Bloomfield Hills Professional Office Space

      Professional office spaces available for lease in Bloomfield Hills, MI.
      2242 Telegraph Rd, Bloomfield Hills, MI 48302
      View Details
    • $600 /Mo
      200 SF

      Bloomfield Hills Professional Office Space

      Professional office spaces for lease in Bloomfield Hills, Michigan.
      2242 Telegraph Rd, Bloomfield Hills, MI 48302
      View Details
    • $2,200 /Mo
      1,219 SF

      Renovated Condo in Bloomfield Hills

      Spacious, renovated condo with modern amenities in Bloomfield Hills.
      4041 Maple Rd S, Bloomfield Hills, MI 48301
      View Details
    • $25 SF/Yr
      9,668 SF

      Woodward Ave Office Suites Available

      Prime Oakland County Office Space, Multiple Suites
      35980 Woodward Ave, Bloomfield Hills, MI 48304
      View Details
    • Contact for pricing
      44,372 SF

      Bloomfield Big Box Retail Space

      Prime location, 44,372 SF, high traffic.
      2050 Telegraph Rd, Bloomfield Hills, MI 48302
      View Details
    • $30 SF/Yr
      46,678 SF

      Bloomfield Hills Medical Office Space

      Prime Medical Office Building, Oakland County
      36800 Woodward Ave, Bloomfield Hills, MI 48304
      View Details
    • $25 SF/Yr
      32,000 SF

      Woodward Avenue Office Space for Lease

      Bloomfield Hills medical & creative office suites.
      40700 Woodward Ave, Bloomfield Hills, MI 48304
      View Details
    • $20 SF/Yr
      20,000 SF

      Bloomfield Hills Retail Center

      Prime Retail Space, High Traffic Area
      1914-1952 Telegraph Rd, Bloomfield Hills, MI 48302
      View Details
    • $24 SF/Yr
      30,000 SF

      Bloomfield Hills Coworking Space

      Class A Office Suites, Now Leasing
      21 Long Lake Rd, Bloomfield Hills, MI 48304
      View Details
    • Contact for pricing
      9,804 SF

      Executive Office Suite, Woodward Ave

      Move-in ready, 2800 sq ft office space
      42714 Woodward Ave, Bloomfield Hills, MI 48304
      View Details
    • Contact for pricing
      11,425 SF

      Knollwood Medical Office Suites

      Bloomfield Hills medical office space available.
      6421-6443 Inkster Rd, Bloomfield Hills, MI 48301
      View Details

    FAQs

    What type of property is this?
    Office Property / Space - Prime Office Space, Drive-Thru Available
    Where is this office property / space located?
    The property is located at 35 Long Lake Rd Bloomfield Hills, MI.
    What are key features of this property?
    This property features: Former freestanding bank with drive-thru lane.; 5,358 SF two-story office building with full basement.; Located in affluent Bloomfield Hills, MI, near Woodward Ave.
    Request Owner's contact information
    35 Long Lake Rd Bloomfield Hills, MI 48304
    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.
    35 Long Lake Rd
    Bloomfield Hills, MI 48304
    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.

    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
    35 Long Lake Rd Bloomfield Hills, MI 48304
    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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.