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    43223 Twelve Mile Rd Novi, MI 48377

    Sponsored
    For Sale
    $5,180,000

    Prime Novi retail, high traffic, mall outlot.

    Property size:
    29,884 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 29,884 square foot free-standing retail building is situated on a 2.7-acre lot at 43223 W. 12 Mile Road in Novi, Michigan (Oakland County, zip code 48377). Built in 1998, this two-story structure boasts exquisite interior and architectural design, offering street-level retail space. The property features 64 parking spaces and is zoned R-C Regional Center. Its prime location offers unparalleled visibility and accessibility, directly in front of Twelve Oaks Mall, and enjoys close proximity to major thoroughfares including I-96, I-275, and M-5, ensuring high traffic volume and excellent exposure. The asking price is $5,180,000, translating to $173.34 per square foot. A unique opportunity exists for a flexible seller who is willing to lease back a portion of the upper-level retail space to a new owner, providing a potential for immediate income generation. The property's parcel number (APN) is 22-14-100-034. This presents a rare chance to acquire a well-established, high-performing retail property in a thriving Michigan market.

    Property Features for 43223 Twelve Mile Rd

    General Information

    Property type
    Retail properties
    Square Feet
    29,884 SF
    Lot Size
    117,612 SF

    Building Details

    Year Built
    1998
    Stories
    2

    HighLights

    • High‑visibility street retail space, outlot at Twelve Oaks Mall.
    • Free‑standing building with upscale interior and architecture.
    • Excellent access to I‑96, I‑275, and M‑5.
    • Seller offers flexible leaseback option to upper‑level retail space.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Novi
    County
    Oakland
    State
    Michigan
    Longitude
    -83.4742929
    Latitude
    42.4950172

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    FAQs

    What type of property is this?
    Retail property - Prime Novi retail, high traffic, mall outlot.
    Where is this retail property located?
    The property is located at 43223 Twelve Mile Rd Novi, MI.
    What is the asking price?
    The asking price for this property is $5,180,000.
    What are key features of this property?
    This property features: High-visibility street retail space, outlot at Twelve Oaks Mall.; Free-standing building with upscale interior and architecture.; Excellent access to I-96, I-275, and M-5.
    (248) 476-3700
    Request Owner's contact information
    43223 Twelve Mile Rd Novi, MI 48377
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    Novi, MI 48377
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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
    43223 Twelve Mile Rd Novi, MI 48377
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