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    35080 Grand River Ave Farmington, MI 48335

    Sponsored
    For Lease
    Contact for pricing

    Prime Farmington location, 8,266 sq ft, B-3 zoning.

    Lot size:
    8,266 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    406
    This exceptional commercial property at 35080 Grand River Ave, Farmington, MI 48335, offers 8,266 square feet of versatile space, plus additional mezzanine area. Previously used as a collision shop associated with an adjacent auto dealership, the property boasts B-3 zoning, allowing for a wide range of commercial uses. Potential uses include retail, restaurant, automobile repair, collision repair, or used car sales. The building is situated on Grand River Ave, near Drake Rd, in Oakland County. The single-tenant space presents a unique opportunity for businesses seeking a high-visibility location. An adjacent 25,288 square foot former auto dealership and auto repair building at 35200 Grand River Ave is also available for purchase or lease, presenting potential for synergistic business operations. This property is ideal for entrepreneurs and established businesses seeking a prominent location in a thriving community. The ample square footage and flexible zoning make this an attractive investment opportunity. Contact us today to learn more about this exciting property and its potential.

    Property Features for 35080 Grand River Ave

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    8,266 SF

    Unit(s) available at that property

    Space
    Size
    8,266 SF

    We can help!

    Listing Contact
    David Rea

    Learn more

    Property Insight Report

    HighLights

    • Former collision repair shop, previously associated with an adjacent dealership.
    • 8,266 SF building with additional mezzanine space.
    • B‑3 zoning allows for diverse commercial uses including retail, restaurants, and auto‑related businesses.
    • Adjacent 25,288 SF former auto dealership/repair building also available for sale or lease.
    Property Profile Location Intelligence

    Current Use by Public Records

    Excalibur Garage Doors ... Door Supplier

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Farmington
    County
    Oakland
    State
    Michigan
    Longitude
    -83.393572528414
    Latitude
    42.469602392534

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    FAQs

    What type of property is this?
    Restaurant - Prime Farmington location, 8,266 sq ft, B-3 zoning.
    Where is this restaurant located?
    The property is located at 35080 Grand River Ave Farmington, MI.
    What are key features of this property?
    This property features: Former collision repair shop, previously associated with an adjacent dealership.; 8,266 SF building with additional mezzanine space.; B-3 zoning allows for diverse commercial uses including retail, restaurants, and auto-related businesses.
    Request Owner's contact information
    35080 Grand River Ave Farmington, MI 48335
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    Farmington, MI 48335
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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
    35080 Grand River Ave Farmington, MI 48335
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    We can help!
    Listing Contact
    David Rea
    Real Estate License ID: MI 6502104413
    Learn more
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