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    Property profile & analytics

    23943 Industrial Park Dr Farmington Hills, MI 48335

    • Industrial properties
    • 5,010 SF
    • 0.69 lot acres
    For Lease
    View listing
    $12 SF/Yr
    Value Estimation
    $300,000
    Location Intelligence
    Property ID
    US43-0217017
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Industrial properties

    Property Details for 23943 Industrial Park Dr

    Year built
    1970
    Lot size
    0.69 lot acres
    Property size
    5,010 SF
    Zone code
    II
    Property type
    Industrial properties
    APN
    22-23-30-201-011
    APU
    222330201011

    Description

    This exceptional 5,000-square-foot flex space, located at 23943 Industrial Park Drive in Farmington Hills, Michigan, presents a fantastic opportunity for businesses seeking a versatile and functional industrial property. The single-tenant building, constructed in 1970, sits on a 0.69-acre lot and offers ample space for a variety of uses, thanks to its I-1 industrial zoning. The building is a single-story structure with a total of 5,000 square feet of vacant space, making it ideal for immediate occupancy. The property boasts nine convenient parking spaces for employees and clients. The property's address is 23943 Industrial Park Dr, Farmington Hills, MI 48335, within Oakland County. The Assessor's Parcel Number (APN) is 23-30-201-011. This property is perfect for businesses needing a well-maintained, readily available space in a prime location. The entire 5,000 square feet is currently vacant, allowing for complete customization to suit specific business needs. Its location in Farmington Hills offers easy access to major transportation routes, making it a strategic choice for businesses needing efficient logistics. Don't miss this chance to secure this highly desirable industrial space.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $275,000

    • CAP approach

      CAP return
      Estimation
      6%
      $370,000
      6.5%
      $345,000
      7%
      $355,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $310,000
      Geo Method
      $330,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $350,000
      Retail
      $385,000
      Mixed-Use
      $330,000
      Hospitality
      $365,000
      Educational
      $310,000
      Residential Income
      $325,000
      Energy
      $395,000
      Income-Based Land
      $420,000
      Food Service
      $325,000

    Location Insight

    • Map
    • Local Demand
    City
    Farmington Hills
    County
    Oakland
    State
    Michigan
    Longitude
    -83.4244
    Latitude
    42.4647
    CBSA code
    19820
    CBSA name
    DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $5,773
    $49,620
    $187,560
    $237,180
    -
    $99,240
    $375,120
    $474,360

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    Farmington Hills, MI 48335
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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