Property profile

21600 Greenfield Rd Oak Park, MI 48237

OFF-MARKET
Retail space
Property ID
US43-1757308
19,754 SF 0.91 ac lot Built 1964
Entity Owned 22-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional mixed-use property at 21600 Greenfield Road in Oak Park, Michigan, presents a compelling investment opportunity. The 19,754 square foot building, constructed in 1964 and extensively renovated in 2020, sits on a 0.91-acre lot and boasts 16 units, currently operating as executive office space. The building is entirely leased on a month-to-month basis, generating a gross monthly lease income exceeding $17,000. The property offers significant upside potential due to its prime location across the street from a major development project. The large parking lot provides ample space for tenants and visitors. There are no restrictive covenants on the property, offering flexibility for future use or redevelopment. The asking price is $995,000, representing a strong return on investment for a discerning buyer. The property's 100% ownership provides complete control and management flexibility. This is a rare opportunity to acquire a high-performing, well-maintained commercial property in a rapidly developing area of Oakland County. The net rentable square footage is 100 square feet. This property is a turnkey operation with immediate cash flow.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1964
Total area 19,754 SF
Lot 0.91 ac (39,640 SF)
Zoning code B-2
APN 52-25-31-301-008
UPID US43-1757308

Cap rate & NOI

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

Location

21600 Greenfield Rd Oak Park, MI 48237-2539
Oak Park metro Census 171500 DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.85M
Blend (final) Blend
$505k

Owner & transaction history

since 2004
3 recorded transactions
2020
Price N/A
2004
Price N/A
1969
Price N/A

Zoning & alternative use

B-2 · Oak Park, MI
Zoning description

business districts. B-2 uses are generally characterized by an integrated or planned cluster of establishments served by a common parking lot. c. O office. The O districts are intended to accommodate uses such as offices…

General category COMMERCIAL

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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