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22960 Venture Dr Novi, MI 48375-4128

OFF-MARKET Commercial real estate Google Maps
16,800 SF 1.86 ac lot Built 2000
Entity Owned 10-yr Hold ~ Est. High Equity
Estimated value (blended)
$965k
Range $869k – $1.06M (±10%)
Property ID US43-0098332

Property summary

AI-generated overview

This exceptional 16,880-square-foot industrial property, located at 22960 Venture Drive in Novi, Michigan, presents a compelling investment opportunity. Built in 2000, this single-tenant building sits on a 1.86-acre lot within Oakland County and offers a versatile layout ideal for distribution or warehouse operations. The high ceilings, measuring 16 feet, provide ample vertical space for storage and efficient workflow. The property includes one dock-high door, offering convenient loading and unloading capabilities. Currently, there is 5,030 square feet of existing office space available for lease, with the potential to expand this to 6,405 square feet to meet specific business needs. Access to a loading dock is also a possibility. The building's adaptability makes it easily convertible into a flex/warehouse suite, catering to a wide range of business requirements. The property boasts substantial power capacity, with 800 amps available. This prime location in Novi, Michigan, offers excellent access to major transportation routes, ensuring seamless logistics and distribution. This property is an ideal choice for businesses seeking a functional, well-located, and adaptable industrial space. The combination of ample square footage, high ceilings, and potential for office expansion makes this a truly unique opportunity.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 2000
Total area 16,800 SF
Lot 1.86 ac (81,022 SF)
Zoning code I-1
APN 50-22-26-401-039
UPID US43-0098332

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
  • Big Box & Wholesale Store

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.68M
Blend (final) Blend
$965k

Owner & transaction history

since 2015
3 recorded transactions
2015
$925,000
2006
$1.3M
2003
Price N/A

Zoning & alternative use

I-1 · Novi, MI
Zoning description

I-1 Light Industrial District 129 - - - Found in multiple Articles and Sections 1900 Intent 129 3 3.1.18.A 3-40 1901 Principal Uses Permitted 129 3 3.1.18.B 3-41 Intro text no longer required 1901.4 Public or private hea…

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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