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    20411 12th Mile Rd Southfield, MI 48076-5414
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    Property profile & analytics

    20411 12th Mile Rd Southfield, MI 48076-5414

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    • Medical Office Space
    • 16,240 SF
    • 1.19 lot acres
    Off-Market
    Property ID
    US43-1299765
    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
    $1,540,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Medical Office Space

    Property Details for 20411 12th Mile Rd

    Year built
    1971
    Lot size
    1.19 lot acres
    Property size
    16,240 SF
    Zone code
    OS
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    76-24-15-226-034
    APU
    762415226034

    Description

    This exceptional Southfield office space, located at 20411 W Twelve Mile Road, offers 2,376 square feet of immediately available space in a well-maintained building. The property, situated on a 1.19-acre lot, boasts a total of 16,240 square feet across two stories and was extensively renovated in 2018, ensuring modern amenities and functionality. The building features ample parking with 100 spaces available for tenants and visitors. This executive office space is part of a multi-tenant building, offering a collaborative and professional environment. The minimum divisible space is 961 square feet, allowing for flexibility depending on individual business needs, while the maximum contiguous space available is 2,376 square feet. The building was originally constructed in 1971 and is zoned OS, reflecting its suitability for office use. The property's Oakland County location, with its convenient access to major roadways and amenities, makes it an ideal location for businesses seeking a prominent Southfield address. The property's APN is 24-15-226-034 and the zip code is 48076. This is a rare opportunity to secure high-quality office space in a desirable location. Inquire today to learn more about leasing options.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,765,000
      Market price range: $1.41M - $7.44M

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

    Location Insight

    • Map
    • Local Demand
    City
    Southfield
    County
    Oakland
    State
    Michigan
    Longitude
    -83.2466
    Latitude
    42.5015
    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
    $16,351
    $74,520
    $257,450
    $331,970
    -
    $149,040
    $514,900
    $663,940

    Comparable in this City

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    • Value Estimation
      $1,775,000
      9,542 SF

      28500 Southfield Rd

      MEDICAL BUILDING • 9,542 SF
      28500 Southfield Rd, Lathrup Village, MI 48076-2722
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    • Value Estimation by Request
      1,739 SF

      27241 Southfield Rd

      MEDICAL BUILDING • 1,739 SF
      27241 Southfield Rd, Lathrup Village, MI 48076-3406
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    • Value Estimation
      $1,350,000
      11,024 SF

      17070 12th Mile Rd

      MEDICAL BUILDING • 11,024 SF
      17070 12th Mile Rd, Southfield, MI 48076-2116
      View Details
    • Value Estimation
      $2,440,000
      11,550 SF

      16310 12th Mile Rd

      MEDICAL BUILDING • 11,550 SF
      16310 12th Mile Rd, Southfield, MI 48076-2925
      View Details
    • Value Estimation
      $760,000
      9,052 SF

      20180 12th Mile Rd

      MEDICAL BUILDING • 9,052 SF
      20180 12th Mile Rd, Southfield, MI 48076-5412
      View Details

    Similar Nearby for Sale

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      31,189 SF

      Southfield Office/Medical Portfolio For Sale

      Five-building office/medical portfolio available in Southfield, Michigan.
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    • $549,900
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      Mixed-Use Property in Oakland, MI

      High-visibility commercial space with stable rental income and prime exposure.
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      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
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    Similar Nearby for Lease

    • Contact for pricing

      Southfield Renovated Office Space

      Renovated office space in Southfield, utilities included.
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      Southfield Medical Office Space Available

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      Freestanding Medical Building For Rent

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    • $12 SF/Yr
      1,396 SF

      Southfield Office/Medical Space Available

      Multi-tenant office/medical building near major cities and Beaumont Royal Oak.
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      View Details
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    Southfield, MI 48076-5414
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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.

    More about this property
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