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    30000-30180 Grand River Ave Farmington Hills, MI 48336
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    30000-30180 Grand River Ave Farmington Hills, MI 48336

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    • Lifestyle centers
    • 311,298 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 30000-30180 Grand River Ave

    Property size
    311,298 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    West River Center, located at 30000 Grand River Avenue in Farmington Hills, offers exceptional retail leasing opportunities. This Class B shopping center boasts 311,298 square feet of total space, with six available units ranging from 1,000 to 8,200 square feet; the maximum contiguous space available is 5,800 square feet. Situated at the intersection of Grand River Avenue and Middlebelt Road, the property benefits from unparalleled visibility and accessibility, attracting high traffic flow and a diverse customer base. The area is served by a mix of residential neighborhoods, corporate offices, and educational institutions, ensuring a strong customer base. Convenient access to major highways, including I-696 and M-5, and proximity to downtown Detroit further enhance its appeal. The modern building features ample parking and is well-maintained. Flexible lease options are available, making it suitable for a variety of retail, dining, and service-oriented businesses. This location in Oakland County presents a unique opportunity to establish or expand a business within a thriving commercial corridor. The property offers a dynamic environment for commerce and community engagement, ensuring maximum visibility for tenants.

    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
    -83.342
    Latitude
    42.4512

    Comparable in this City

    • Value Estimation by Request
      74,660 SF

      25938 Middlebelt Rd

      Lifestyle centers • 74,660 SF
      25938 Middlebelt Rd, Farmington Hills, MI 48336
      View Details
    • Value Estimation
      $7,160,000
      79,511 SF

      25780 Middlebelt Rd

      MINI-MALL • 79,511 SF
      25780 Middlebelt Rd, Farmington Hills, MI 48336-1443
      View Details
    • Value Estimation
      $3,485,000
      311,298 SF

      30000 Grand Riv Ave

      MINI-MALL • 311,298 SF
      30000 Grand Riv Ave, Farmington Hills, MI 48336-4722
      View Details
    • Value Estimation
      $1,110,000
      30,582 SF

      32210 8th Mile Rd

      SHOPPING CENTER, STRIP CENTER • 30,582 SF
      32210 8th Mile Rd, Farmington Hills, MI 48336-5100
      View Details
    • Value Estimation
      $845,000
      8,928 SF

      29470 10th Mile Rd

      SHOPPING CENTER, STRIP CENTER • 8,928 SF
      29470 10th Mile Rd, Farmington Hills, MI 48336-2700
      View Details
    • Value Estimation
      $1,980,000
      19,936 SF

      22250 Middlebelt Rd

      SHOPPING CENTER, STRIP CENTER • 19,936 SF
      22250 Middlebelt Rd, Farmington Hills, MI 48336-4935
      View Details

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      Versatile Retail/Office Space Available

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    Similar Nearby for Lease

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      Mixed-Use Retail and Office Space

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      Retail space with frontage on W 9 Mile Road.
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    Farmington Hills, MI 48336
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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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