21540 11 Mile RdSouthfield, MI 48076

Property Details for 21540 11 Mile Rd

Year built

1973

Lot size

0.59 AC

Property size (Sq ft)

12,224 SF

Zone code

OS

Property type

Office properties

Property subtype

Office buildings

APN

76-24-15-353-033

APU

762415353033

Description

This exceptional 12,224 square foot office building, located at 21540 11 Mile Road in Oakland County, presents a unique investment opportunity. The property is a single-tenant building suitable for a variety of uses, including medical and traditional office spaces. Key features include one overhead door, ideal for loading and unloading, and a second-floor lab space complete with sinks, catering to specific medical or research needs. The building is partially equipped with a sprinkler system for enhanced safety. Convenient amenities include two restrooms on each floor, along with a kitchenette and breakroom on each level, providing comfortable spaces for staff and clients. Ample parking is ensured with a 40-space parking lot. The property also offers the advantage of prominent monument signage, enhancing visibility and brand recognition. Its strategic location provides convenient access to major thoroughfares, including I-696, Telegraph Road, and M-10, ensuring easy commutes for employees and clients. The current lease extends through 2033, offering long-term stability and predictable income. This property represents a compelling opportunity for investors seeking a well-maintained, strategically located office building with a strong lease in place.

• CAP approach

  CAP return

  Valuation

  6%

  $2,092,601

  6.5%

  $1,931,632

  7%

  $1,793,658

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,143,433

  Geo Method

  $1,143,433

• Alternative Use

  Use

  Valuation

  Residential

  $2,395,224

  Hospitality

  $2,194,012

  Educational

  $1,825,392

  Medical

  $1,888,170

  Retail

  $2,839,499

Location Insight

City

Southfield

County

Oakland

State

Michigan

Latitude

42.4875

Longitude

-83.2571

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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