Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    37849 Interchange Dr Farmington Hills, MI 48331
    Back to Search
    Property profile & analytics

    37849 Interchange Dr, Farmington Hills, MI 48331

    View on Map
    • Warehouses
    • 66,036 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 37849 Interchange Dr

    Year built
    1986
    Property size
    66,036 SF
    Property type
    Warehouses
    Property subtype
    Life science properties

    Description

    This single-tenant industrial property, located at 37849 Interchange Drive in Farmington Hills, Michigan, offers 66,036 square feet of versatile space ideal for flex, R&D, or warehouse operations. Built in 1986, the one-story building sits on a 9.55-acre lot and features a 20-foot ceiling height, providing ample room for various uses. The property includes five loading docks and two dock-high doors, ensuring efficient loading and unloading. Currently, 16,863 square feet is available for lease. The property is zoned IRO, reflecting its suitability for industrial and related uses. The building's single-tenant occupancy provides a streamlined operational environment. This Farmington Hills location offers convenient access to major transportation routes, making it an attractive option for businesses seeking a strategic location in the greater Detroit area. The property's size and features make it suitable for a wide range of industrial and research-related businesses. The ample acreage provides potential for future expansion or outdoor storage. This is a rare opportunity to secure a substantial industrial space in a prime location. The available square footage presents a significant opportunity for a business seeking to establish or expand its operations in a well-established industrial area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Farmington Hills
    County
    Oakland
    State
    Michigan
    Longitude
    -83.4056
    Latitude
    42.4643

    Comparable in this City

    • Value Estimation by Request
      33,789 SF

      37840-37890 Interchange Dr

      Life science properties • 33,789 SF
      37840-37890 Interchange Dr, Farmington Hills, MI 48331
      View Details
    • Value Estimation by Request
      41,182 SF

      27675 Halsted Rd

      Distribution properties • 41,182 SF
      27675 Halsted Rd, Farmington Hills, MI 48331
      View Details
    • Value Estimation by Request
      10,000 SF

      27675 Halsted Rd

      Distribution properties • 10,000 SF
      27675 Halsted Rd, Farmington Hills, MI 48331
      View Details
    • Value Estimation by Request
      300,000 SF

      Halsted Rd & Drake Rd

      Life science properties • 300,000 SF
      0 Halsted Rd & Drake Rd, Farmington Hills, MI 48331
      View Details
    • Value Estimation by Request
      46,047 SF

      39303 Country Club Dr

      Restaurants • 46,047 SF
      39303 Country Club Dr, Farmington Hills, MI 48331
      View Details
    • Value Estimation
      $3,935,000
      93,161 SF

      34385 12th Mile Rd

      INDUSTRIAL (GENERAL) • 93,161 SF
      34385 12th Mile Rd, Farmington Hills, MI 48331-3375
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      High-Image Building with Ample Parking

      Corporate quality building with renovated office and warehouse space.
      33737 W 12 Mile Rd, Farmington Hills, MI 48331
      View Details
    • Contact for pricing

      High-Image Building with Ample Parking

      Corporate quality building with renovated office and hi-bay/loading dock.
      33737 W 12 Mile Rd, Farmington Hills, MI 48331
      View Details
    • Contact for pricing
      75,286 SF

      Farmington Hills Industrial R&D Facility

      Industrial R&D facility in automotive technology hub, Farmington Hills.
      36600 Corporate Dr, Farmington Hills, MI 48331
      View Details
    • $150,000
      0.79 Acres

      Residential Land in Farmington Hills

      Land available for building a dream home near Franklin.
      13 13 Mile Rd, Farmington Hills, MI 48331
      View Details
    • $17,950,000
      125,195 SF

      Farmington Hills Office Building

      Office building for sale in Farmington Hills, Michigan.
      36500 Corporate Dr, Farmington Hills, MI 48331
      View Details
    • $229,900
      4.16 Acres

      Residential Land in Farmington Hills

      4.16 acres of wooded land in Farmington Hills.
      36300 Howard Rd, Farmington, MI 48331
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,273 SF

      Farmington Hills Flex Space

      High-tech flex space with flexible layouts and convenient highway access.
      27200 Haggerty Rd, Farmington Hills, MI 48331
      View Details
    • Contact for pricing
      48,874 SF

      Single Tenant Flex Building

      48,874 SF flex building with office and warehouse space.
      38555 Hills Tech Dr, Farmington Hills, MI 48331
      View Details
    • $15 SF/Yr

      High-Image Building with Ample Parking

      Corporate quality flex space with generous parking and high visibility.
      33737 W 12 Mile Rd, Farmington Hills, MI 48331
      View Details
    • Contact for pricing

      Farmington Hills Hi-Tech Flex Space

      Hi-tech flex space available for sublease in Farmington Hills.
      39205 Country Club Dr, Farmington Hills, MI 48331
      View Details
    • Contact for pricing

      Updated Office and Warehouse Space

      High-image building with office and warehouse space for lease.
      27675 Halsted Rd, Farmington Hills, MI 48331
      View Details
    • Contact for pricing

      Farmington Hills Flex Space Available

      Flex space with quick highway access in Farmington Hills.
      37840-37890 Interchange Dr, Farmington Hills, MI 48331
      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.
    37849 Interchange Dr
    Farmington Hills, MI 48331
    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
    37849 Interchange Dr, Farmington Hills, MI, 48331
    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!