21455 Melrose Ave Southfield, MI 48075
- Industrial properties
- 56,100 SF
- 4.68 lot acres
Current Use by Public Records
- US Laboratories / Medical Laboratory
- B Gallerie / Event Venue
- Watchdog Security / Security Guard Service
- TS Tech Americas Inc., DSO / Corporate Office
- CVS TRANSPORTATION SERVICES / Handicapped Transportation Service / Limousine Service
Property Details for 21455 Melrose Ave
- Year built
- 1987
- Lot size
- 4.68 lot acres
- Property size
- 56,100 SF
- Zone code
- I-L
- Property type
- Industrial properties
- Property subtype
- Loft space
- APN
- 76-24-34-351-050
- APU
- 762434351050
Description
This exceptional Southfield, Michigan property, located at 21455 Melrose Ave, 48075, offers a diverse range of office and industrial spaces totaling 378,762 square feet. Built in 1986 and renovated in 1990, the property features multiple tenancies and currently has 20,529 square feet of vacant space available, ranging from 1,312 to 12,430 square feet. The building boasts a 16-foot ceiling height and abundant onsite parking. The property is classified as Traditional Office, Executive Office, Flex, Warehouse, and R&D space, making it suitable for a variety of businesses. Located in Oakland County, this property presents a unique opportunity for businesses seeking flexible and adaptable space. Rent is quoted on a triple-net (NNN) basis, with estimated NNN charges of approximately $4.25 per square foot annually, billed monthly. A $0.25 per square foot annual rent increase is subject to the lease. The quoted rent is for "as is" space and is subject to lease length and leasehold improvements. Gas and electric are separately metered and are the tenant's responsibility. The rental rate is subject to change based on tenant leasehold improvement requirements.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,030,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $950,000
- 6.5%
- $990,000
- 7%
- $935,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $850,000
- Geo Method
- $995,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $780,000
- Retail
- $760,000
- Mixed-Use
- $1,035,000
- Hospitality
- $1,020,000
- Educational
- $945,000
- Residential Income
- $915,000
- Energy
- $750,000
- Income-Based Land
- $1,015,000
- Food Service
- $905,000
Location Insight
- Map
- Local Demand
- City
- Southfield
- County
- Oakland
- State
- Michigan
- Longitude
- -83.2538
- Latitude
- 42.4471
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
