Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    28919 Evergreen Rd Southfield, MI 48076
    Back to Search
    Property profile & analytics

    28919 Evergreen Rd Southfield, MI 48076

    View on Map
    • Retail properties & Spaces
    • 1,300 SF
    • 1.21 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Martial Science Center / Training Center / Sports School
    • Small Leaf Massage / Alternative Medicine Practice / Spa & Massage Center

    Property Details for 28919 Evergreen Rd

    Year built
    2008
    Lot size
    1.21 lot acres
    Property size
    1,300 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    Country Village Plaza, located at 28919 Evergreen Rd, Southfield, MI 48076, presents a fantastic opportunity for a single-tenant user. This 1,300 square foot commercial space is situated on a 1.21-acre lot and offers immediate occupancy. The building, constructed in 2008 and renovated in 2014, is classified as Class B and features a single story design. No elevators are present. The property is zoned for commercial use and is ideally suited for a variety of businesses, including medical offices, traditional offices, and creative office spaces. Its versatile layout makes it suitable for a range of uses, such as a restaurant, boutique, or other retail establishment. The property's convenient location in Oakland County, near the cross street of 12 Mile Rd, provides excellent access to major roadways and a thriving local community. The single-tenant occupancy ensures privacy and control over the space. This is a rare opportunity to secure a well-maintained, versatile commercial property in a prime Southfield location. The property's size and features make it an attractive option for businesses seeking a functional and accessible space. The ample land provides potential for future expansion or outdoor amenities.

    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
    -83.2428
    Latitude
    42.5012

    Comparable in this City

    • Value Estimation by Request
      48,900 SF

      Nwc Of Evergreen Rd And Civic Ctr Dr

      Restaurants • 48,900 SF
      0 Nwc Of Evergreen Rd And Civic Ctr Dr, Southfield, MI 48076
      View Details
    • Value Estimation by Request
      8,485 SF

      26245 Southfield Rd

      Medical Office Space • 8,485 SF
      26245 Southfield Rd, Lathrup Village, MI 48076
      View Details
    • Value Estimation by Request
      55,196 SF

      29706 Southfield Rd

      Restaurants • 55,196 SF
      29706 Southfield Rd, Southfield, MI 48076
      View Details
    • Value Estimation by Request
      11,075 SF

      27645 Southfield Rd

      Restaurants • 11,075 SF
      27645 Southfield Rd, Lathrup Village, MI 48076
      View Details
    • Value Estimation by Request

      Main St

      Restaurants
      0 Main St, Southfield, MI 48076
      View Details
    • Value Estimation by Request
      5,898 SF

      18500 12th Mile Rd

      MEDICAL BUILDING • 5,898 SF
      18500 12th Mile Rd, Southfield, MI 48076-2674
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      505 S Main Street Royal Oak Restaurant Space for lease

      Retail properties & Spaces
      0 Main St, Southfield, MI 48076
      View Details
    • $549,900
      4,648 SF

      Mixed-Use Property in Oakland, MI

      High-visibility commercial space with stable rental income and prime exposure.
      17600 W 11 Mile Rd, Southfield, MI 48076
      View Details
    • $190,000

      Turn-Key Restaurant Business Opportunity

      Established restaurant for sale in Southfield, ready for new owner.
      29702 Southfield Rd, Southfield, MI 48076
      View Details
    • $1,300,000
      1,739 SF

      Lathrup Village Commercial Space

      Single-story commercial space ideal for pharmacy, medical, or retail use.
      27241 Southfield Rd, Lathrup Village, MI 48076
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      5,920 SF

      Lathrup Village Creative Office Suite

      1,500 SF Creative Office Space for Lease
      26440 Southfield Rd, Lathrup Village, MI 48076
      View Details
    • $16 SF/Yr
      5,920 SF

      Southfield Road Creative Office Suite

      Modern 1500 sq ft office, updated finishes
      26440 Southfield Rd, Lathrup Village, MI 48076
      View Details
    • Contact for pricing

      Retail Center Outlots Available

      Retail spaces and restaurants available for lease in Southfield.
      19715-19961 W Twelve Mile Rd, Southfield, MI 48076
      View Details
    • Contact for pricing

      Southfield Renovated Office Space

      Renovated office space in Southfield, utilities included.
      16215-16261 W Twelve Mile Rd, Southfield, MI 48076
      View Details
    • $12 SF/Yr
      1,396 SF

      Southfield Office/Medical Space Available

      Multi-tenant office/medical building near major cities and Beaumont Royal Oak.
      17220 Twelve Mile Rd, Southfield, MI 48076
      View Details
    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.
    28919 Evergreen Rd
    Southfield, MI 48076
    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
    28919 Evergreen Rd, Southfield, MI, 48076
    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!