29433 Southfield RdSouthfield, MI 48076

Property Details for 29433 Southfield Rd

Year built

1963

Lot size

1.82 AC

Property size (Sq ft)

23,521 SF

Zone code

OS

Property type

Office properties

Property subtype

Office buildings

APN

76-24-11-479-044

APU

762411479044

Description

The Park, located at 29433 Southfield Rd, Southfield, MI 48076, presents a unique investment opportunity. This Class B office building, totaling 25,000 square feet, sits on a 1.82-acre lot and boasts a prime location with easy access to 12 Mile Road. Built in 1972 and extensively renovated in 2023, the two-story building offers multiple tenancy options, with two spaces currently available ranging from 100 to 850 square feet. The property features 85 parking spaces, providing ample convenience for tenants and visitors. While there are no elevators, the building's layout is easily accessible. Currently, three suites are built out for massage and esthetician services, but the flexible space is adaptable to various uses. A dedicated storage room adds to the functionality. The property benefits from on-site maintenance and security features, enhancing the overall tenant experience. The zoning is OS, and the APN is 24-11-479-044 in Oakland County. This property is ideal for businesses seeking a well-maintained, conveniently located office space in a thriving Southfield community. The building's recent renovation ensures modern amenities and a comfortable work environment.

• CAP approach

  CAP return

  Valuation

  6%

  $4,026,512

  6.5%

  $3,716,780

  7%

  $3,451,296

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,200,154

  Geo Method

  $2,200,154

• Alternative Use

  Use

  Valuation

  Residential

  $4,608,807

  Hospitality

  $4,221,642

  Educational

  $3,512,357

  Medical

  $3,633,152

  Retail

  $5,463,666

Location Insight

City

Southfield

County

Oakland

State

Michigan

Latitude

42.5059

Longitude

-83.2241

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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