31500 13 Mile Rd Farmington Hills, MI 48334
- Office buildings
- 45,838 SF
- 4.11 lot acres
Current Use by Public Records
- Office buildings
Property Details for 31500 13 Mile Rd
- Year built
- 1929
- Lot size
- 4.11 lot acres
- Property size
- 45,838 SF
- Zone code
- BI
- Property type
- Office buildings
- APN
- 22-23-03-476-042
- APU
- 222303476042
Description
This exceptional 46,468 square foot executive office building, located at 31500 13 Mile Road in Farmington Hills, Michigan (zip code 48334), presents a rare opportunity for owner-users or value-add investors. The property boasts a multi-tenant configuration, offering suites ranging in size from 315 square feet to 12,191 square feet, providing flexibility for various business needs. Its prime location in Oakland County offers convenient access to major freeways, ensuring easy commutes for employees and clients. The building features ample parking, smooth ingress and egress, and the potential for prominent monument signage on 13 Mile Road, enhancing visibility and brand recognition. Recent improvements significantly enhance the property's value and appeal, including a resurfaced parking lot, updated building exterior, a new roof on half of the building, upgraded mechanical systems, and fresh landscaping. The property's strong cash flow and significant upside potential make it an attractive investment prospect. This is a truly unique opportunity to acquire a well-maintained, strategically located office building in a thriving Michigan market. The building's excellent condition and recent upgrades minimize immediate capital expenditure needs, allowing for a smooth transition and immediate occupancy or lease-up. This is a turnkey solution for businesses seeking a high-quality office space or investors looking for a strong return on investment.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,900,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,875,000
- 6.5%
- $1,845,000
- 7%
- $2,005,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,085,000
- Geo Method
- $1,840,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,935,000
- Retail
- $1,760,000
- Mixed-Use
- $2,325,000
- Hospitality
- $2,155,000
- Educational
- $2,345,000
- Residential Income
- $1,815,000
- Energy
- $2,370,000
- Income-Based Land
- $1,850,000
- Food Service
- $2,020,000
Location Insight
- Map
- Local Demand
- City
- Farmington Hills
- County
- Oakland
- State
- Michigan
- Longitude
- -83.3613
- Latitude
- 42.5146
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
