Property profile

21420 Melrose Ave Southfield, MI 48075

OFF-MARKET
Retail space
Property ID
US43-0894375
15,956 SF 1.32 ac lot Built 1986
Entity Owned 2-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 15,956-square-foot industrial property, located at 21420 Melrose Ave in Southfield, Michigan, presents a unique investment opportunity. Situated on a 1.32-acre lot, this single-tenant building boasts a flexible design suitable for various uses, including flex space, warehouse, and R&D. Built in 1986, the property features a 16-foot ceiling height, providing ample vertical space for storage or specialized equipment. The building includes one dock-high door for efficient loading and unloading. Currently configured as a data center, the property is easily de-commissioned to suit a new owner's needs. Significant power is available, with 1,000 amps and 480 volts, making it ideal for power-intensive operations. The warehouse is fully air-conditioned for optimal climate control. The rear lot is fully fenced, offering enhanced security and privacy. The property also includes 3,000 square feet of office space. The asking price is $1,196,700, translating to a price per square foot of $75. This property is zoned for industrial use and is located in Oakland County, Michigan, with a zip code of 48075. The property's location offers convenient access to major transportation routes and amenities.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1986
Total area 15,956 SF
Lot 1.32 ac (57,369 SF)
Zoning code I-L
APN 76-24-34-327-031
UPID US43-0894375

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Factory Production Facility
  • Law Firm
  • Financial Advisor

Location

21420 Melrose Ave Southfield, MI 48075-5631
Southfield metro Census 162400 DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.22M
Blend (final) Blend
$495k

Owner & transaction history

since 2024
5 recorded transactions
2024
Price N/A
2013
Price N/A
2007
Price N/A
2004
Price N/A
1999
Price N/A

Zoning & alternative use

I-L · Southfield, MI
Zoning description

The I-L, Light Industrial District is designed so as to primarily accommodate wholesale activities, warehouses and industrial operations whose external, physical effects are restricted to the area of the district and in…

General category INDUSTRIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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