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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    28300 Telegraph Rd Southfield, MI 48034

    • Lifestyle centers
    • 113,084 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • GNC / (Bike/Boat/Book/etc) Store / Pharmacy

    Property Details for 28300 Telegraph Rd

    Property size
    113,084 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional power center, Tel-Twelve Shopping Center, presents a significant leasing opportunity in the thriving Southfield, Michigan market. Located at 28300 Telegraph Rd, zip code 48034, this property boasts a total of 113,084 square feet of retail space. Currently, there is a substantial 110,684 square feet of vacant space available, offering flexibility for a variety of retail concepts. The property is ideally suited for multiple tenants, with spaces ranging from a minimum of 27,117 square feet to a maximum contiguous space of 83,567 square feet. This prime location in Oakland County provides excellent visibility and accessibility, making it an attractive option for businesses seeking a strong presence in a high-traffic area. The property's size and layout offer significant potential for large-scale retail operations or a combination of smaller businesses. This is a rare opportunity to secure a substantial retail footprint in a desirable Michigan market. The property is available for lease. Contact us today to learn more about this exceptional opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Southfield
    County
    Oakland
    State
    Michigan
    Longitude
    -83.2829
    Latitude
    42.4956

    Comparable in this City

    • Value Estimation
      $1,415,000
      41,461 SF

      29555 Northwestern Hwy

      MINI-MALL • 41,461 SF
      29555 Northwestern Hwy, Southfield, MI 48034-1064
      View Details
    • Value Estimation
      $980,000
      26,024 SF

      26026 12th Mile Rd

      MINI-MALL • 26,024 SF
      26026 12th Mile Rd, Southfield, MI 48034-1783
      View Details
    • Value Estimation
      $1,920,000
      16,000 SF

      24520 12th Mile Rd

      SHOPPING CENTER, STRIP CENTER • 16,000 SF
      24520 12th Mile Rd, Southfield, MI 48034-1207
      View Details
    • Value Estimation
      $2,190,000
      13,950 SF

      29504 Northwestern Hwy

      SHOPPING CENTER, STRIP CENTER • 13,950 SF
      29504 Northwestern Hwy, Southfield, MI 48034
      View Details
    • Value Estimation
      $750,000
      12,952 SF

      28637 Northwestern Hwy

      SHOPPING CENTER, STRIP CENTER • 12,952 SF
      28637 Northwestern Hwy, Southfield, MI 48034-1825
      View Details
    • Value Estimation by Request
      10,043 SF

      27566 Northwestern Hwy

      SHOPPING CENTER, STRIP CENTER • 10,043 SF
      27566 Northwestern Hwy, Southfield, MI 48034-4723
      View Details

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    • $17 SF/Yr
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      Prime Southfield location, flexible suites available.
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    • $35 SF/Yr
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      Southfield Commercial Property For Rent

      Commercial property available for rent in Southfield, Michigan.
      28333 Telegraph Rd, Southfield, MI 48034
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      Southfield Retail Space For Lease

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      View Details
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    28300 Telegraph Rd
    Southfield, MI 48034
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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
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