20500 Civic Center DrSouthfield, MI 48076

Property Details for 20500 Civic Center Dr

Year built

1977

Lot size

15.30 AC

Property size (Sq ft)

110,540 SF

Zone code

RC

Property type

Office properties

Property subtype

Office buildings

APN

76-24-22-201-019

APU

762422201019

Description

This bank-owned, vacant, 180,000 square foot Class B office building presents a unique investment opportunity in Southfield, Michigan. Located at 20500 Civic Center Drive, this four-story building, constructed in 1977, sits on a 15.3-acre lot and boasts 780 parking spaces. The property is zoned R-A and features a desirable park-like setting, complemented by an attractive atrium lobby, a commercial kitchen and café, and an employee recreation room. Its convenient location offers easy access to major highways and is surrounded by amenities including retail shops, hotels, and restaurants. The building's size and features make it ideal for a corporate headquarters or conversion into a multi-tenant property. This is a rare chance to acquire a substantial office building in a thriving commercial area, offering significant potential for redevelopment or immediate occupancy. The property's ample parking and attractive features make it a highly desirable location for businesses seeking a prestigious address in Southfield. The building's vacant status allows for complete customization to suit the needs of a new owner or tenant. This is a bank-owned foreclosure, presenting a compelling opportunity for investors. The property's APN is 24-22-201-019 and the zip code is 48076.

• CAP approach

  CAP return

  Valuation

  6%

  $18,923,114

  6.5%

  $17,467,490

  7%

  $16,219,813

• Comparable approach

  Method

  Valuation

  Relative Method

  $10,339,912

  Geo Method

  $10,339,912

• Alternative Use

  Use

  Valuation

  Residential

  $21,659,688

  Hospitality

  $19,840,158

  Educational

  $16,506,779

  Medical

  $17,074,472

  Retail

  $25,677,212

Location Insight

City

Southfield

County

Oakland

State

Michigan

Latitude

42.4811

Longitude

-83.2476

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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