Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2070 Airport Rd Waterford, MI 48327-1204

    • Office buildings
    • 4,218 SF
    • 0.69 lot acres
    OFF-MARKET
    Last Sale
    Dec 04, 2024
    $372,250
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1618145
    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

    • Office buildings

    Property Details for 2070 Airport Rd

    Year built
    1945
    Lot size
    0.69 lot acres
    Property size
    4,218 SF
    Zone code
    BI
    Property type
    Office buildings
    APN
    W -13-16-101-024
    APU
    W1316101024

    Description

    This exceptional mixed-use commercial property in Waterford Township, Michigan, presents a compelling investment opportunity. The 4,200 square foot building is situated on a 0.69-acre lot and features three distinct structures. The main office building encompasses 2,528 square feet, including a finished basement. A separate 490 square foot conference room provides ample space for meetings or private offices. Additionally, a 1,200 square foot service garage, complete with heat and electricity, is ideal for light manufacturing or service-based businesses. The property boasts extensive parking due to its generous lot size. Recent improvements include a new roof installed in 2023. Located conveniently near the Oakland County Airport, this property benefits from a highly desirable location. The "Hi tech office" zoning permits a variety of uses, including medical offices, light manufacturing, research and development, service industries, and mixed-use developments. This well-maintained property offers significant potential for a variety of businesses and is priced at $424,900. The motivated seller invites serious inquiries. This is a rare opportunity to acquire a versatile and strategically located commercial property in a thriving market. The address is 2070 Airport Rd, Waterford Township, MI 48327.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Waterford
    County
    Oakland
    State
    Michigan
    Longitude
    -83.4055
    Latitude
    42.6681
    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
    $11,573
    $0.00
    $0.00
    $236,030
    -
    $0.00
    $0.00
    $472,060

    Comparable in this City

    • Value Estimation by Request
      1,962 SF

      5741 Elizabeth Lk Rd

      OFFICE BUILDING • 1,962 SF
      5741 Elizabeth Lk Rd, Waterford, MI 48327-2633
      View Details
    • Value Estimation by Request
      1,581 SF

      5649 Highland Rd

      OFFICE BUILDING • 1,581 SF
      5649 Highland Rd, Waterford, MI 48327-1927
      View Details
    • Value Estimation by Request
      4,958 SF

      5390 Highland Rd

      OFFICE BUILDING • 4,958 SF
      5390 Highland Rd, Waterford, MI 48327-1977
      View Details
    • Value Estimation
      $1,320,000
      13,060 SF

      1370 Oakland Blvd

      OFFICE BUILDING • 13,060 SF
      1370 Oakland Blvd, Waterford, MI 48327-4525
      View Details
    • Value Estimation
      $650,000
      6,300 SF

      5758 Cooley Lk Rd, Unit 300

      OFFICE BUILDING • 6,300 SF
      5758 Cooley Lk Rd, Waterford, MI 48327-3073
      View Details
    • Value Estimation by Request
      1,937 SF

      1280 Cres Lk Rd

      OFFICE BUILDING • 1,937 SF
      1280 Cres Lk Rd, Waterford, MI 48327-2412
      View Details

    Similar Nearby for Sale

    • $285,000
      1,711 SF

      Waterford Office Building on M-59

      Office building with frontage on M-59, suitable for owner-occupants.
      5663 Highland Rd, Waterford, MI 48327
      View Details
    • $425,000
      3,714 SF

      Waterford Office Building For Sale

      Well-maintained office building on Highland Road, ideal for owner-user.
      5685 Highland Rd, Waterford, MI 48327
      View Details
    • $420,000
      2,300 SF

      Highland Road Medical Office

      Prime Medical Office Building, Waterford Twp, MI
      0 7559-7561Highland Rd, Waterford Township, MI 48327
      View Details
    • $294,000

      M-59 Frontage Retail/Office Opportunity

      High-traffic location with frontage on M-59 in Oakland County.
      5619 Highland Rd, Waterford, MI 48327
      View Details
    • $399,000
      2,300 SF

      Freestanding Medical/Office Building For Sale

      2,300 SF medical/office building near Oakland International Airport.
      7559 Highland Rd, Waterford, MI 48327
      View Details
    • $200,000
      960 SF

      Waterford Industrial Building - M-59

      High-traffic location, locksmith shop, land contract option.
      7754 Highland Rd, Waterford, MI 48327
      View Details

    Similar Nearby for Lease

    • $450 /Mo
      1,092 SF

      Waterford Office Space For Rent

      Office space with high visibility on M-59 in Waterford.
      6695 Highland Rd, Waterford, MI 48327
      View Details
    • $1,050 /Mo

      Well-Located Office Space Available

      Office space with flexible layout and utilities included.
      1370 N Oakland Blvd, Waterford, MI 48327
      View Details
    • $1,250 /Mo
      1,092 SF

      Waterford Office Space For Rent

      Office space with flexible terms and high visibility on M-59.
      6695 Highland Rd, Waterford, MI 48327
      View Details
    • $16 SF/Yr
      5,850 SF

      Waterford Office Building For Lease

      Prime Waterford office space, furnished suites available.
      100 Williams Lk Rd, Waterford Township, MI 48327
      View Details
    • Contact for pricing
      3,175 SF

      Waterford Office Sublease Opportunity

      995 SF office space available for sublease in Waterford.
      5770 Highland Rd, Waterford, MI 48327
      View Details
    • $28 SF/Yr
      1,977 SF

      Versatile Space in Waterford Township

      Up to 5,000 SF ideal for retail, medical, or office.
      6005 Highland Rd, Waterford, MI 48327
      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.
    2070 Airport Rd
    Waterford, MI 48327-1204
    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

    Google sign-in failed. Please try again or use another login method.