Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    20180 12th Mile Rd Southfield, MI 48076-5412
    Back to Search
    Property profile & analytics

    20180 12th Mile Rd, Southfield, MI 48076-5412

    View on Map
    • Medical Office Space
    • 9,052 SF
    • 0.97 lot acres
    Off-Market
    Last Sale May 5, 2023
    $720,000
    Property ID
    US43-1280251
    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
    $760,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Medical Office Space

    Property Details for 20180 12th Mile Rd

    Year built
    1965
    Lot size
    0.97 lot acres
    Zone code
    OS
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    76-24-10-479-056
    APU
    762410479056

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 5, 2023 — B Murad Family LLC 12 & Evergreen Office LLC Quit Claim Deed · related —
    May 3, 2017 — 12 & Evergreen Office LLC — Deed · related $250k · Bank Of Ann Arbor
    Jan 22, 2013 — 12 & Evergreen Office LLC Citizens Bk Grant Deed · related —
    Aug 2, 2012 $290,000 Citizens Bk Robert Spitzer Real Estate Inv Deed In Lieu Of Foreclosure · related —
    Sep 15, 2006 — A Robert Spitzer Spitzer,morris Quit Claim Deed · related —
    Aug 24, 2006 — Robert Spitzer Real Estate Investme A Robert Spitzer Quit Claim Deed · related —
    Sep 15, 2004 $720,000 Morris Spitzer West Twelve Mile Assocs LLC Warranty Deed —
    Dec 22, 1999 — West 12 Mile Associates LLC Spitzer,morris Grant Deed · related —
    Mar 31, 1998 $525,000 West Twelve Mile Assocs LLC Northford Investments Trustees Deed $524k · N B D Bank NA
    Mar 31, 1998 $375,000 Northford Investments A P J Associates Trustees Deed —
    — — 12 & Evergreen Office LLC — Deed Of Trust · related $250k · Bank Of Birmingham
    — — Morris Spitzer — Deed Of Trust · related $400k · Bank One Michigan
    — — 12 & Evergreen Office LLC — Loan Modification · related $250k · Bank Of Ann Arbor

    Description

    This exceptional 9,052-square-foot medical office building, located at 20180 W Twelve Mile Road in Southfield, Michigan, presents a compelling investment opportunity. Built in 1973 and extensively renovated in 2013, the property boasts a strong net operating income (NOI) of $155,000. The building is situated on a 0.97-acre lot and features ample parking, providing a 7:1,000 sq ft ratio. The property is currently leased under a triple-net (NNN) lease to multiple tenants. The asking price is $2,000,000, translating to a price per square foot of $220.94. Its prime location offers convenient access to I-696 and Evergreen Road, ensuring high visibility and accessibility for patients and staff. The building benefits from prominent exterior monument signage on Twelve Mile Road. Its proximity to Corewell Health Royal Oak and local retail amenities further enhances its appeal. This well-maintained property represents a stable and attractive investment in a thriving medical market. The property's 9,052 square feet of net rentable space makes it an ideal investment for those seeking a strong return in the Southfield, Oakland County area (zip code 48076).

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $825,000
      ML approach
      $785,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Southfield
    County
    Oakland
    State
    Michigan
    Longitude
    -83.2434
    Latitude
    42.5024
    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
    2022
    $14,738
    $104,780
    $120,480
    $225,260
    -
    $209,560
    $240,960
    $450,520

    Comparable in this City

    • Value Estimation by Request
      5,898 SF

      18500 12th Mile Rd

      MEDICAL BUILDING
      18500 12th Mile Rd, Southfield, MI 48076-2674
      View Details
    • Value Estimation
      $1,775,000
      9,542 SF

      28500 Southfield Rd

      MEDICAL BUILDING
      28500 Southfield Rd, Lathrup Village, MI 48076-2722
      View Details
    • Value Estimation by Request
      1,739 SF

      27241 Southfield Rd

      MEDICAL BUILDING
      27241 Southfield Rd, Lathrup Village, MI 48076-3406
      View Details
    • Value Estimation
      $1,350,000
      11,024 SF

      17070 12th Mile Rd

      MEDICAL BUILDING
      17070 12th Mile Rd, Southfield, MI 48076-2116
      View Details
    • Value Estimation
      $2,440,000
      11,550 SF

      16310 12th Mile Rd

      MEDICAL BUILDING
      16310 12th Mile Rd, Southfield, MI 48076-2925
      View Details
    • Value Estimation
      $820,000
      7,568 SF

      28437 Greenfield Rd

      MEDICAL BUILDING
      28437 Greenfield Rd, Southfield, MI 48076-3045
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Medical Office Building Near I-696

      Well-maintained medical office building with single tenant NNN lease.
      Southfield, MI 48076
      View Details
    • $1,300,000
      1,739 SF

      Lathrup Village Commercial Space

      Single-story commercial space ideal for pharmacy, medical, or retail use.
      27241 Southfield Rd, Lathrup Village, MI 48076
      View Details
    • $1,300,000

      Commercial Space Near I-696

      Single-story commercial space near I-696, currently operating as a pharmacy.
      27241 Southfield Rd, Lathrup Village, MI 48076
      View Details
    • Contact for pricing
      31,189 SF

      Southfield Office/Medical Portfolio For Sale

      Five-building office/medical portfolio available in Southfield, Michigan.
      21751 W 11 Mile Rd, Southfield, MI 48076
      View Details
    • Contact for pricing
      16,240 SF

      Southfield Office Building for Sale

      Southfield office building with 16,240 square feet available for sale.
      20411 W Twelve Mile Rd, Southfield, MI 48076
      View Details
    • Contact for pricing
      18,234 SF

      Southfield Office Building For Sale

      18,234 SF office building available for purchase in Southfield.
      15999 W Twelve Mile Rd, Southfield, MI 48076
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr

      Professional Office Suites

      Flexible office suites in a well-maintained building with individually metered utilities and prime Southfield Road visibility.
      26440 Southfield Rd, Lathrup Village, MI 48076
      View Details
    • Contact for pricing

      Southfield Renovated Office Space

      Renovated office space in Southfield, utilities included.
      16215-16261 W Twelve Mile Rd, Southfield, MI 48076
      View Details
    • Contact for pricing
      2,640 SF

      Southfield Medical Office Space Available

      Centrally located medical office space with on-site owner.
      26245 Southfield Rd, Southfield, MI 48076
      View Details
    • Contact for pricing

      Freestanding Medical Building For Rent

      Medical building with five exam rooms available for lease.
      21721 W 11 Mile Rd, Southfield, MI 48076
      View Details
    • Contact for pricing
      1,396 SF

      Southfield Office/Medical Space Available

      Multi-tenant office/medical building near major cities and Beaumont Royal Oak.
      17220 Twelve Mile Rd, Southfield, MI 48076
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    20180 12th Mile Rd
    Southfield, MI 48076-5412
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    20180 12th Mile Rd, Southfield, MI, 48076
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!