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    31440 Northwestern Hwy Farmington Hills, MI 48334

    Sponsored
    For Lease
    $19 SF/Yr

    Class A Executive Office Suites Available

    Lot size:
    232,400 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    404
    This exceptional Class A office building, the Woodlands Officentre, located at 31440 Northwestern Hwy, Farmington Hills, MI 48334, offers a prime opportunity for businesses seeking executive office space. The property boasts a total of 232,400 square feet, with 29,545 square feet currently available for lease. Multiple tenancy options are available, accommodating businesses of various sizes. Units range from a minimum of 2,807 square feet to a maximum contiguous space of 29,545 square feet, providing flexibility for diverse needs. The building offers convenient amenities including on-site fitness facilities and daycare, enhancing employee well-being and productivity. Its strategic location in Farmington Hills, Michigan provides easy access to major transportation routes and a thriving business community. The building's modern design and high-quality finishes create a professional and inviting atmosphere. This is an unparalleled opportunity to secure prestigious office space in a highly sought-after location. Contact us today to schedule a viewing and explore the possibilities for your business. The available space is contiguous and ready for immediate occupancy.

    Property Features for 31440 Northwestern Hwy

    General Information

    Property type
    Day care centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    232,400 SF
    Class
    A
    Total Rate
    377650

    Unit(s) available at that property

    Space
    Suite 104
    Size
    4,883 SF
    Rate per SF
    $19
    Space
    Suite 110
    Size
    9,004 SF
    Rate per SF
    $19
    Space
    Suite 120
    Size
    7,557 SF
    Rate per SF
    $19
    Space
    Suite 130
    Size
    10,100 SF
    Rate per SF
    $19
    Space
    Suite 145
    Size
    7,401 SF
    Rate per SF
    $19
    Space
    Suite 150
    Size
    11,294 SF
    Rate per SF
    $19
    Space
    Suite 225
    Size
    12,003 SF
    Rate per SF
    $19
    Space
    Suite 360
    Size
    21,780 SF
    Rate per SF
    $19

    We can help!

    Listing Contact
    John Fricke
    John Fricke

    Learn more

    Property Insight Report

    HighLights

    • 232,400 total square feet.
    • 4,883 - 32,971 contiguous square feet available for lease.
    • Award‑winning architecture and landscaping.
    • Ample covered parking.
    • On‑site convenience store.
    • Excellent signage opportunities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Day care centers

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Farmington Hills
    County
    Oakland
    State
    Michigan
    Longitude
    -83.3371182
    Latitude
    42.5191178

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    FAQs

    What type of property is this?
    Day care center - Class A Executive Office Suites Available
    Where is this day care center located?
    The property is located at 31440 Northwestern Hwy Farmington Hills, MI.
    What is the lease rate?
    The lease rate is $19 SF/Yr.
    What are key features of this property?
    This property features: 232,400 total square feet.; 4,883 - 32,971 contiguous square feet available for lease.; Award-winning architecture and landscaping.
    Request Owner's contact information
    31440 Northwestern Hwy Farmington Hills, MI 48334
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    Farmington Hills, MI 48334
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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
    31440 Northwestern Hwy Farmington Hills, MI 48334
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    We can help!
    Listing Contact
    John Fricke
    John Fricke
    Real Estate License ID: MI
    Learn more
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