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    27650-27778 Franklin Rd Southfield, MI 48034
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    27650-27778 Franklin Rd Southfield, MI 48034

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    • Office Spaces
    • 41,128 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Spaces

    Property Details for 27650-27778 Franklin Rd

    Property size
    41,128 SF
    Property type
    Office Spaces
    Property subtype
    Medical Office Space

    Description

    This exceptional Southfield, Michigan office and medical complex, located at 27650-27778 Franklin Road, offers a diverse range of leasing opportunities. The property comprises seven buildings totaling 41,128 square feet situated on a generous 6.7-acre lot in Oakland County. Currently, there are two available spaces, ranging from 1,026 to 1,387 square feet, ideal for executive offices or medical practices. The property's multiple tenancy structure provides a dynamic and collaborative environment. The convenient location in Southfield, MI, zip code 48034, ensures easy access to major transportation routes and amenities. With 2,413 square feet currently vacant, this presents a unique chance to secure space in a well-established and highly sought-after business park. The property's classification as both executive office and medical office space caters to a wide range of potential tenants. This is an excellent opportunity for businesses seeking a prestigious and functional workspace in a thriving community. The property's size and layout offer flexibility for various business needs, making it an attractive option for both established companies and startups. Contact us today to learn more about leasing options and explore the possibilities this exceptional property offers.

    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
    -83.2947
    Latitude
    42.4902

    Comparable in this City

    • Value Estimation by Request

      28446 Franklin Rd

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    • Value Estimation by Request
      55,790 SF

      28200-28336 Franklin Rd

      Medical Office Space • 55,790 SF
      28200-28336 Franklin Rd, Southfield, MI 48034
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    • Value Estimation by Request
      41,128 SF

      27650-27778 Franklin Rd

      Medical Office Space • 41,128 SF
      27650-27778 Franklin Rd, Southfield, MI 48034
      View Details
    • Value Estimation
      $3,665,000
      5,151 SF

      27692 Franklin Rd, Unit 7

      MEDICAL BUILDING • 5,151 SF
      27692 Franklin Rd, Southfield, MI 48034-8203
      View Details
    • Value Estimation
      $1,055,000
      6,915 SF

      29877 Telegraph Rd Ste, Unit 100

      MEDICAL BUILDING • 6,915 SF
      29877 Telegraph Rd Ste, Southfield, MI 48034-7658
      View Details
    • Value Estimation
      $2,895,000
      23,482 SF

      27211 Lahser Rd

      MEDICAL BUILDING • 23,482 SF
      27211 Lahser Rd, Southfield, MI 48034-8469
      View Details

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      Southfield Flex/Industrial/Office Space For Sale

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      41,128 SF

      Southfield Office/Medical Space Available

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      Southfield Wellness Building For Rent

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      Medical Office Condos For Lease

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      Medical Office Space Available

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    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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