Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Class A Building For Rent Title is generated by Realmo AI

    43155 Main St, Novi, MI 48375

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    151,000 square foot Class A building available for rent.

    Type:Retail, Office, Restaurant
    Property size:
    151,000 SF
    Added:
    Aug 6, 2021
    Days on Market:
    1764
    Last Refresh:
    May 12 at 10:48 pm

    Property Features for 43155 Main St

    General Information

    Standard status
    Active
    Size
    151,000 SF
    Property subtype
    Retail, Office, Restaurant

    Building Details

    Year Built
    1998

    Spaces For Lease

    at 43155 Main St Contact us

    Suite 305 $20/Mo

    Size
    9,113 SF
    Type
    Retail
    Lease Rate: $20.00 SF/yr (Gross + Electric)
    Contact us

    Suite - 312 $20/Mo

    Size
    3,997 SF
    Type
    Retail, Office, Restaurant
    Retail SpacenLease Type: Gross + Electric
    Contact us

    Suite 2204A $20/Mo

    Size
    4,798 SF
    Type
    Office
    Lease Type: Gross + Electric
    Contact us

    Suite 502 $20/Mo

    Size
    4,045 SF
    Type
    Restaurant
    Former Mixx Sports BarnLease Type: Gross + Electric
    Contact us

    Suite 2310 $20/Mo

    Size
    10,991 SF
    Type
    Office
    Lease Type: Gross + Electric
    Contact us
    Show more

    We can help!

    Listing Contact
    Eric Szerlag
    Eric Szerlag

    Listing agent Eric Szerlag License #MI 6501343471

    Listing office Thomas Duke Company

    Listing date Aug 6, 2021

    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 Thomas Duke Company

    HighLights

    • Class A Building
    • Boasting 151,000 square feet
    • Built in 1998

    Overview

    This is a 151,000 square foot Class A building available for rent. The property is suitable for office buildings, office properties and spaces, retail space, retail properties and spaces, conventional restaurants, restaurants, and general commercial real estate.
    Property Profile Location Intelligence

    Current Use by Public Records

    MentalNote® (Bike/Boat/Book/etc) Store Zeamster (Bike/Boat/Book/etc) Store Empower Financial Group ... Financial Advisor Cover 4 PM (Bike/Boat/Book/etc) Store Caruana, Gellasch, and Associates ... Financial Advisor

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Novi
    County
    Oakland
    State
    Michigan
    Longitude
    -83.4707584
    Latitude
    42.4781925

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      MI, Novi - Grand River Ave

      41430 Grand River Ave, Novi, MI 41430
      View Details
    • $129-$3,537/Mo
      11-1,292 SF

      Crystal Glen

      39555 Orchard Hill Pl, Unit 600, Novi, MI 48375
      View Details
    • $14 SF/Yr
      2,390 SF

      Novi Medical Office Suites Available

      Medical office suites for lease in a remodeled building.
      39500 W Ten Mile Road, Novi, MI 48375
      View Details
    • $4,800/Mo
      6,000 SF

      Novi Industrial Space with Cranes

      6000 SF industrial space with multiple cranes available 2026.
      45237-45241 Grand River Ave, Novi, MI 48375
      View Details
    • $2,282/Mo
      22,500 SF

      Office and Medical Suites Available

      Move-in ready office and medical suites in desirable location.
      42450 W 12 Mile Rd 220, Novi, MI 48377
      View Details
    • $15 SF/Yr
      3,500 SF

      Novi Flex Space Available

      3,260 RSF flex space with high ceilings and parking.
      28850 Cabot Dr, Novi, MI 48377
      View Details
    • $25 SF/Yr
      50,028 SF

      Medical Office Space For Lease

      Medical office suites available for lease on hospital campus.
      26750 Providence Parkway , Novi, MI 48374
      View Details
    • $7 SF/Yr
      21,261 SF

      Industrial Buildings on 7.61 Acres

      Two industrial buildings totaling 26,861 SF on 7.61 acres.
      45237 Grand River Avenue, Novi, MI 48375
      View Details
    • $15 SF/Yr

      Freestanding Retail Building

      Owner-user capable freestanding retail building on a Twelve Oaks Mall outlot with an upscale interior and fast occupancy.
      43223 W. 12 Mile Road, Novi, MI 48377
      View Details
    • $16 SF/Yr
      3,850 SF

      Novi Office Space Available

      Office space available for lease in Novi, Michigan.
      24900 Joseph Drive, Novi, MI, 48375
      View Details
    • Contact for pricing
      5,000 SF

      Novi Retail Space Available

      Retail space available for lease in Novi, Michigan.
      30900-30990 Beck Rd, Novi, MI 48377
      View Details
    • $8 SF/Yr

      Well-Maintained Manufacturing and Headquarters Facility

      Manufacturing/headquarters facility with cranes, heavy power, and build-to-suit option.
      22750 Heslip Dr, Novi, MI 48375
      View Details

    FAQs

    What type of property is this?
    Office building - 151,000 square foot Class A building available for rent.
    Where is this office building located?
    The property is located at 43155 Main St Novi, MI.
    What is the lease rate?
    The lease rate is $20 SF/Yr.
    What are key features of this property?
    This property features: Class A Building; Boasting 151,000 square feet; Built in 1998
    (248) 476-3700 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Eric Szerlag
    Eric Szerlag
    Real Estate License ID: MI 6501343471
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    43155 Main St, Novi, MI 48375
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!