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    27909 Orchard Lake Rd Farmington Hills, MI 48334
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    27909 Orchard Lake Rd Farmington Hills, MI 48334

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    • Lifestyle centers
    • 7,586 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 27909 Orchard Lake Rd

    Property size
    7,586 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    Orchard 12 Plaza presents a prime retail investment opportunity in Oakland County. This 7,586 square foot shopping center is strategically located at the northwest corner of Orchard Lake Road and 12 Mile Road, a high-visibility intersection boasting over 75,000 vehicles daily. The property features four available suites, ranging from a minimum of 1,300 square feet to a maximum contiguous space of 3,400 square feet. Currently, the entire 7,586 square feet is vacant, offering a unique chance for a single tenant or multiple businesses to establish a presence in this thriving commercial area. The plaza benefits from multiple curb cuts providing convenient access from both Orchard Lake Road and 12 Mile Road, along with cross-access to neighboring retailers. Ample parking is available for customers and employees, ensuring a positive shopping experience. Monument signage is also available, providing excellent visibility for tenants. This location offers the advantage of being near established businesses, including Starbucks and Craft Breww City, further enhancing its appeal and attracting a steady flow of customers. This is an exceptional opportunity to secure a prominent retail space in a high-traffic location with excellent visibility and ample parking.

    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
    -83.3611
    Latitude
    42.4997

    Comparable in this City

    • Value Estimation by Request
      102,000 SF

      33250-33338 12 Mile Rd

      Lifestyle centers • 102,000 SF
      33250-33338 12 Mile Rd, Farmington Hills, MI 48334
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    • Value Estimation by Request
      5,808 SF

      2 Grocery Stores In

      Lifestyle centers • 5,808 SF
      0 2 Grocery Stores In, Farmington Hills, MI 48334
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    • Value Estimation by Request
      63,805 SF

      27600 Middlebelt Rd

      Lifestyle centers • 63,805 SF
      27600 Middlebelt Rd, Farmington Hills, MI 48334
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    • Value Estimation
      $5,230,000
      352,098 SF

      30825 Orch Lk Rd

      MINI-MALL • 352,098 SF
      30825 Orch Lk Rd, Farmington, MI 48334-1332
      View Details
    • Value Estimation
      $5,775,000
      62,914 SF

      27839 Orch Lk Rd

      SHOPPING CENTER, STRIP CENTER • 62,914 SF
      27839 Orch Lk Rd, Farmington, MI 48334
      View Details
    • Value Estimation
      $1,410,000
      13,254 SF

      32395 Northwestern Hwy

      SHOPPING CENTER, STRIP CENTER • 13,254 SF
      32395 Northwestern Hwy, Farmington Hills, MI 48334-1535
      View Details

    Similar Nearby for Sale

    • $3,500,000
      8,108 SF

      Renovated Restaurant Building For Sale

      Freestanding, two-story restaurant with outdoor patio and elevator.
      31519 W 12 Mile Rd, Farmington Hills, MI 48334
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    • $3,500,000
      4,054 SF

      Renovated Restaurant Building For Sale

      Freestanding, renovated restaurant building with tenant in place for sale.
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      Hunter's Square Retail Opportunity

      Retail space available in redeveloping Hunter's Square.
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      3,292 SF

      30685 W 12 Mile Rd, Farmington Hills, MI 48334

      Conventional restaurants • 3,292 SF
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Orchard 12 Plaza

      Retail space available in a busy Farmington Hills plaza.
      27909 Orchard Lake Rd, Farmington Hills, MI 48334
      View Details
    • Contact for pricing
      3,400 SF

      Retail Space in Orchard 12 Plaza

      Retail space available in a busy Farmington Hills plaza.
      27853-27909 Orchard Lake Rd, Farmington Hills, MI 48334
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    • $1,540 /Mo
      24,061 SF

      Retail Space in Market Place

      924 sq ft retail space in busy shopping center.
      28849 Orchard Lake Rd, Farmington Hills, MI 48334
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    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease in Farmington Hills, Michigan.
      33250-33338 West 12 Mile Rd, Farmington Hills, MI 48334
      View Details
    • $2,500 /Mo

      Versatile Retail/Office Space Available

      Centrally located suites suitable for office, retail, or recreation.
      29920-29912 Orchard Lake Rd, Farmington Hills, MI 48334
      View Details
    • Contact for pricing
      1,267 SF

      Retail Space on Orchard Lake

      Retail space available for lease on Orchard Lake Road.
      27839 Orchard Lake Rd, Farmington Hills, MI 48334
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    Farmington Hills, MI 48334
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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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