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    21500 Haggerty Rd Northville, MI 48167-8990
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    Property profile & analytics

    21500 Haggerty Rd Northville, MI 48167-8990

    View on Map
    • Office buildings
    • 50,625 SF
    • 2.70 lot acres
    Off-Market
    Property ID
    US43-5269039
    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
    $3,685,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Gentex Corporation / Department Store
    • Nissha USA, Inc. / Industrial Manufacturer / Production Facility
    • CoreTitle Northville / Title Company / Insurance Company
    • Ian Waldo - Raymond James / Financial Advisor
    • Success Mortgage Partners Ramzi Faraj / Loan Service / Bank

    Property Details for 21500 Haggerty Rd

    Year built
    2000
    Lot size
    2.70 lot acres
    Property size
    50,625 SF
    Zone code
    BI
    Property type
    Office buildings
    APN
    22-23-31-101-023
    APU
    222331101023

    Description

    The Century Building, a three-story Class D office building located at 21500 Haggerty Rd, Northville, MI 48167 (APN 23-31-101-010), offers exceptional office space for lease. Built in 2000 and renovated in 2018, this meticulously designed building provides a professional environment to enhance your company's image. The building totals 49,738 square feet, with 11,204 square feet currently vacant. Available spaces range from 3,749 to 5,285 square feet, suitable for a variety of business needs. The property is zoned for office use and features ample parking with 198 spaces available for tenants and guests. This multi-tenant building offers a traditional office setting with executive office options, catering to businesses seeking a prestigious and functional workspace. The building's location in Northville, Michigan provides easy access to major transportation routes and amenities. This is an opportunity to secure high-quality office space in a well-maintained building with a modern aesthetic. Contact us today to schedule a viewing and discuss your leasing options.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,100,000
      6.5%
      $2,860,000
      7%
      $2,655,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,460,000
      Market price range: $1.58M - $6.94M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $5,940,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Northville
    County
    Oakland
    State
    Michigan
    Longitude
    -83.433
    Latitude
    42.4474
    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
    $76,582
    $314,670
    $2,269,780
    $2,584,450
    -
    $629,340
    $4,539,560
    $5,168,900

    Comparable in this City

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      $885,000
      7,760 SF

      131 Cady St

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    • Value Estimation
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      311 Main St

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    • Value Estimation by Request
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    • Value Estimation by Request
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      114 Rayson St

      OFFICE BUILDING • 3,013 SF
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    • Value Estimation
      $2,900,000
      29,875 SF

      770 Thayer Blvd

      OFFICE BUILDING • 29,875 SF
      770 Thayer Blvd, Northville, MI 48167-1365
      View Details
    • Value Estimation by Request
      1,275 SF

      43320 7th Mile Rd

      OFFICE BUILDING • 1,275 SF
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      View Details

    Similar Nearby for Sale

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      12,000 SF

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      Downtown Northville Office Building

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      Traditions Drive Commercial Property

      Commercial property available for sale on Traditions Drive.
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      Prime 2-Acre Building Site

      2-acre building site in Lyon Township, Northville Schools.
      Simcheck, Northville, MI 48167
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      95 SF

      Horse Track Redevelopment Opportunity

      95-acre horse track, excellent redevelopment site on Seven Mile.
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    Similar Nearby for Lease

    • $3,500 /Mo
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      Northville Office Space Available

      Office space for rent in Northville, Michigan.
      104 W Main St, Northville, MI 48167
      View Details
    • $30 SF/Yr
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      Northville Executive Office Suite

      Modern Office, Prime Location, 2,135 SF
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      6,232 SF

      Northville Office Space For Rent

      Former chiropractic office suitable for healthcare or professional services.
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      View Details
    • Contact for pricing

      Northville Office Spaces Available

      Office spaces for rent, ranging from 900 to 4,045 sq. ft.
      22260 Haggerty Rd, Northville, MI 48167
      View Details
    • Contact for pricing
      3,259 SF

      Downtown Northville Office Suite

      6,517 SF office suite in downtown Northville.
      311 E Main St, Northville, MI 48167
      View Details
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    Northville, MI 48167-8990
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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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