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    121 W Long Lake Rd, Unit Bloomfield Hills Bloomfield Hills, MI 48304

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    121 W Long Lake Rd, Unit Bloomfield Hills Bloomfield Hills, MI 48304

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    • Office buildings
    • 18,060 SF
    • 1.43 lot acres
    For Lease
    $2,740,000
    View Listing →
    Bloomfield Hills Renovated Office Building For Lease
    $2,740,000

    Bloomfield Hills Renovated Office Building

    Renovated office building in Bloomfield Hills, potential owner user opportunity.

    121 W Long Lake Bloomfield Hills, Bloomfield Hills, MI 48304
    View Listing
    Property ID
    US43-1820220
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 121 W Long Lake Rd

    Year built
    1998
    Lot size
    1.43 lot acres
    Property size
    18,060 SF
    Zone code
    BI
    Property type
    Office buildings
    APN
    12-19-15-277-008
    APU
    121915277008

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,010,000
      Market price range: $1.29M - $3.01M
      AI Estimate
      $2,471,000
      Market price range: $564k - $2.48M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,120,000
      Current use
      COMMERCIAL (GENERAL)
      $3,180,000
      Change: +50% Conversion: Easy
      RESTAURANT
      $3,125,000
      Change: +48% Conversion: Moderate
      RETAIL STORES
      $3,050,000
      Change: +44% Conversion: Moderate
      MEDICAL BUILDING
      $2,850,000
      Change: +35% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,215,000
      Change: +5% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Bloomfield Hills
    County
    Oakland
    State
    Michigan
    Longitude
    -83.2489
    Latitude
    42.5827
    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
    $56,719
    $0.00
    $0.00
    $1,431,800
    -
    $0.00
    $0.00
    $2,863,600

    Comparable in this City

    • Value Estimation
      $3,375,000
      23,638 SF

      42557 Woodward Ave

      OFFICE BUILDING • 23,638 SF
      42557 Woodward Ave, Bloomfield Hills, MI 48304-5206
      View Details
    • Value Estimation
      $2,780,000
      20,912 SF

      40700 Woodward Ave

      OFFICE BUILDING • 20,912 SF
      40700 Woodward Ave, Bloomfield Hills, MI 48304-5109
      View Details
    • Value Estimation
      $1,095,000
      7,278 SF

      18 Lone Pne Rd

      OFFICE BUILDING • 7,278 SF
      18 Lone Pne Rd, Bloomfield Hills, MI 48304-3535
      View Details
    • Value Estimation by Request
      2,626 SF

      130 Long Lk Rd

      OFFICE BUILDING • 2,626 SF
      130 Long Lk Rd, Bloomfield Hills, MI 48304-2325
      View Details
    • Value Estimation
      $1,285,000
      14,550 SF

      42717 Woodward Ave

      OFFICE BUILDING • 14,550 SF
      42717 Woodward Ave, Bloomfield Hills, MI 48304-5055
      View Details
    • Value Estimation
      $845,000
      9,386 SF

      42651 Woodward Ave, Unit 102

      OFFICE BUILDING • 9,386 SF
      42651 Woodward Ave, Bloomfield Hills, MI 48304-5039
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      46,678 SF

      Bloomfield Hills Office Building

      46,678 SqFt office building for sale.
      36800 Woodward Ave, Bloomfield Hills, MI 48304
      View Details
    • Contact for pricing

      Class A Office Building

      Class A office building in prime Bloomfield Hills location.
      40950 Woodward Ave, Bloomfield Hills, MI 48304
      View Details
    • Contact for pricing

      Bloomfield Hills Professional Office Building

      33,000 sq ft Bloomfield Hills office building for sale.
      39520 Woodward Ave, Bloomfield Hills, MI 48304
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    • $3,500,000

      Usable Land Parcel For Sale

      23.58 acres of usable commercial land with all utilities.
      Franklin Rd, Bloomfield Twp, MI 48304
      View Details
    • $1,150,000
      2.32 Acres

      Bloomfield Twp Land Opportunity

      2.32-acre residential land parcel in prestigious Bloomfield Hills.
      1355 Orchard Ridge Rd, Bloomfield Twp, MI 48304
      View Details
    • $1,495,000

      Bloomfield Hills Building Site

      Prime residential land in prestigious Bloomfield Hills neighborhood.
      Brookdale Rd, Bloomfield Hills, MI 48304
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Bloomfield Hills Office Building

      Owner-occupied office building with renovated common areas in Bloomfield Hills.
      39520 Woodward Ave, Bloomfield Hills, MI 48304
      View Details
    • Contact for pricing

      Class A Office in Bloomfield

      Prestigious office space in an enviable Bloomfield Hills location.
      41000 Woodward Ave, Bloomfield Hills, MI 48304
      View Details
    • Contact for pricing

      Bloomfield Hills Renovated Office Building

      Renovated office building in Bloomfield Hills, potential owner user opportunity.
      121 W Long Lake Rd, Bloomfield Hills, MI 48304
      View Details
    • Contact for pricing
      4,843 SF

      Bloomfield Hills Class A Office

      Class A office space in prestigious Bloomfield Hills location.
      21-45 E Long Lake Rd, Bloomfield Hills, MI 48304
      View Details
    • Contact for pricing

      Bloomfield Hills Class A Office

      Class A office building in prestigious Bloomfield Hills location.
      38505 Woodward Ave, Bloomfield Hills, MI 48304
      View Details
    • Contact for pricing

      Bloomfield Hills Retail/Office Space

      Single tenant retail or office space available for lease.
      35 W Long Lake Rd, Bloomfield Hills, MI 48304
      View Details
    View Listing
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    Bloomfield Hills, MI 48304
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

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

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    121 W Long Lake Rd, Bloomfield Hills, MI, 48304

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