Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    31300-31410 Northwestern Hwy Farmington Hills, MI 48334

    • Office Properties & Spaces
    • 45,000 SF
    For Lease
    View listing
    $17 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Properties & Spaces

    Property Details for 31300-31410 Northwestern Hwy

    Year built
    1982
    Property size
    45,000 SF
    Property type
    Office Properties & Spaces
    Property subtype
    Medical offices

    Description

    This exceptional medical office building, located at 31300-31410 Northwestern Hwy in Farmington Hills, Michigan, presents a unique investment opportunity. The property, identified by APN 23-01-301-011 in Oakland County, boasts a total of 45,000 square feet and is zoned BI. Built in 1982, the building currently features multiple tenants and offers immediate occupancy for prospective tenants. There are four available spaces ranging in size from 1,133 square feet to 3,072 square feet, totaling 8,128 square feet of vacant space. This prime location in Farmington Hills, MI, zip code 48334 (42.5168134, -83.3351439), provides excellent visibility and accessibility for medical professionals. The building's established presence and ample available space make it an ideal setting for a variety of medical practices seeking to expand or establish a new location. The property is ready for immediate lease and offers a chance to secure a well-situated medical office space in a thriving community. Serious inquiries are encouraged to explore this opportunity further.

    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
    -83.3351
    Latitude
    42.5168

    Comparable in this City

    • Value Estimation by Request
      9,000 SF

      29920 Orchard Lake Rd

      Office space • 9,000 SF
      29920 Orchard Lake Rd, Farmington Hills, MI 48334
      View Details
    • Value Estimation by Request
      46,887 SF

      31800 Northwestern Hwy

      Medical offices • 46,887 SF
      31800 Northwestern Hwy, Farmington Hills, MI 48334
      View Details
    • Value Estimation
      $915,000
      3,362 SF

      29330 12th Mile Rd

      DENTAL BUILDING • 3,362 SF
      29330 12th Mile Rd, Farmington Hills, MI 48334-4110
      View Details
    • Value Estimation
      $765,000
      5,017 SF

      29805 Middlebelt Rd

      MEDICAL BUILDING • 5,017 SF
      29805 Middlebelt Rd, Farmington Hills, MI 48334-2317
      View Details
    • Value Estimation
      $755,000
      5,173 SF

      28499 Orch Lk Rd

      MEDICAL BUILDING • 5,173 SF
      28499 Orch Lk Rd, Farmington Hills, MI 48334-3702
      View Details
    • Value Estimation
      $3,995,000
      32,854 SF

      28595 Orch Lk Rd

      MEDICAL BUILDING • 32,854 SF
      28595 Orch Lk Rd, Farmington Hills, MI 48334-2977
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      20,200 SF

      Farmington Hills Medical Office Complex

      20,200 SF Multi-Tenant Medical Building, 100% Occupied
      32910 13 Mile Rd, Farmington Hills, MI 48334
      View Details
    • $324,999
      2,655 SF

      Farmington Hills Medical Office Condo

      Prime Medical Office, 2655 SF, $324,999
      30640 12 Mile Rd, Farmington Hills, MI 48334
      View Details
    • $1,350,000
      7,000 SF

      Turnkey Farmington Hills Office Building

      Three-unit office building with renovated medical space and income potential.
      30000 Orchard Lake Rd, Farmington Hills, MI 48334
      View Details
    • $324,999
      2,655 SF

      Office/Medical Condo For Sale

      2,655 SF office/medical condo in desirable Farmington Hills location.
      30640 W 12 Mile Rd, Farmington Hills, MI 48334
      View Details
    • $1,596,186
      9,018 SF

      Farmington Hills Office Building For Sale

      Single-story office building with high visibility and direct suite entry.
      30180 Orchard Lake Rd, Farmington Hills, MI 48334
      View Details
    • Contact for pricing
      20,200 SF

      Multi-Tenant Office/Medical Complex For Sale

      20,200 SF office/medical complex with 100% occupancy.
      32910 W 13 Mile Rd, Farmington Hills, MI 48334
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      10,496 SF

      Parkhill Medical Office Suites

      Modern Medical Office Space Available
      31700 12 Mile Rd, Farmington Hills, MI 48334
      View Details
    • $20 SF/Yr
      5,858 SF

      Farmington Hills Medical Office Space

      Prime Medical Office: 2,500 SF Available
      30000 Orchard Lake Rd, Farmington Hills, MI 48334
      View Details
    • $17 SF/Yr
      45,000 SF

      Forest Park Medical Office Space

      Farmington Hills medical office suites available
      31300-31410 Northwestern Hwy, Farmington Hills, MI 48334
      View Details
    • $17 SF/Yr
      63,000 SF

      Kaufman Financial Center II Suites

      Farmington Hills Office Space: Multiple Suites Available
      30903 Northwestern Hwy, Farmington Hills, MI 48334
      View Details
    • $18 SF/Yr
      78,000 SF

      Farmington Hills Medical Office Space

      Class A medical office suites available. Excellent location, ample parking.
      31731 Northwestern Hwy, Farmington Hills, MI 48334
      View Details
    • $12 SF/Yr
      106,117 SF

      Wellington Place North Office Space

      Farmington Hills Office Building For Lease
      30445 Northwestern Hwy, Farmington Hills, MI 48334
      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.
    31300-31410 Northwestern Hwy
    Farmington Hills, MI 48334
    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

    Google sign-in failed. Please try again or use another login method.