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    Property profile & analytics

    23055 Telegraph Rd Southfield, MI 48033-4105

    • Banks
    • 4,242 SF
    • 1.66 lot acres
    OFF-MARKET
    Value Estimation
    $485,000
    Last Sale
    Oct 09, 2024
    Location Intelligence
    Property ID
    US43-0289504
    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

    • Banks

    Property Details for 23055 Telegraph Rd

    Year built
    1989
    Lot size
    1.66 lot acres
    Property size
    4,242 SF
    Zone code
    I-1
    Property type
    Banks
    APN
    76-24-29-476-024
    APU
    762429476024

    Description

    This exceptional 4,438 square foot retail property, formerly a Bank of America branch, presents a unique investment opportunity in Southfield, Michigan. Located at 23055 Telegraph Rd, this 1.66-acre site boasts a highly desirable B-3 zoning classification and has already received site plan approval for a car wash, significantly streamlining the development process. The asking price is $1,995,000, translating to $449.53 per square foot. The property's prime location on Telegraph Road, just north of 9 Mile Road, ensures high visibility and accessibility, making it ideal for a variety of commercial uses beyond the approved car wash. Given its strategic location and existing approvals, this property offers significant potential for immediate development or a lucrative ground lease arrangement. The property's history as a well-established financial institution adds to its appeal, providing a solid foundation for future success. Detailed site plans and zoning information are readily available. This is a rare opportunity to acquire a turnkey property in a thriving commercial corridor. Serious inquiries are encouraged.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $490,000

    • CAP approach

      CAP return
      Estimation
      6%
      $490,000
      6.5%
      $475,000
      7%
      $445,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $460,000
      Geo Method
      $460,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $500,000
      Retail
      $440,000
      Mixed-Use
      $410,000
      Hospitality
      $465,000
      Educational
      $505,000
      Residential Income
      $400,000
      Energy
      $450,000
      Income-Based Land
      $440,000
      Food Service
      $410,000

    Location Insight

    • Map
    • Local Demand
    City
    Southfield
    County
    Oakland
    State
    Michigan
    Longitude
    -83.2797
    Latitude
    42.4582
    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
    2022
    $42,726
    $307,790
    $345,260
    $653,050
    -
    $615,580
    $690,520
    $1,306,100

    Comparable in this City

    • Value Estimation by Request
      22,940 SF

      24333 Lahser Rd

      FINANCIAL BUILDING • 22,940 SF
      24333 Lahser Rd, Southfield, MI 48033-6041
      View Details
    • Value Estimation by Request
      22,474 SF

      24333 Lahser Rd

      FINANCIAL BUILDING • 22,474 SF
      24333 Lahser Rd, Southfield, MI 48033-6041
      View Details
    • Value Estimation
      $525,000
      5,723 SF

      24770 Telegraph Rd

      FINANCIAL BUILDING • 5,723 SF
      24770 Telegraph Rd, Southfield, MI 48033-3016
      View Details
    • Value Estimation
      $350,000
      0.87 Acres

      Berg Rd

      FINANCIAL BUILDING • 0.87 Acres
      Berg Rd, Southfield, MI 48033
      View Details
    • Value Estimation
      $210,000
      1,340 SF

      24070 10th Mile Rd

      BARBER, HAIR SALON • 1,340 SF
      24070 10th Mile Rd, Southfield, MI 48033-3006
      View Details
    • Value Estimation
      $570,000
      14,860 SF

      20901 Lahser Rd, Unit 1

      RETAIL STORES (PERSONAL SERVICES) • 14,860 SF
      20901 Lahser Rd, Southfield, MI 48033-4432
      View Details

    Similar Nearby for Sale

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      Profitable smoothie and wrap business inside Meijer for sale.
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      Profitable pizza franchise for sale in Southfield, Michigan.
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    Similar Nearby for Lease

    • New
      $2,200 /Mo
      1,340 SF

      Southfield Commercial Property For Lease

      Commercial property in a high-traffic location, ideal for business.
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      View Details
    • $1,100,000
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      View Details
    • $15 SF/Yr
      6,000 SF

      Hays Market Plaza Retail Space

      High-traffic Telegraph Road retail space available.
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    • $5,000 /Mo
      3,059 SF

      Southfield Restaurant/Bar Opportunity

      Former restaurant/bar with high visibility and private parking.
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    • $20 SF/Yr
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      TEL-Ex Plaza Retail Space Available

      Southfield Shopping Center: 7,326 SF Available
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      View Details
    • Contact for pricing

      Telegraph Road Commercial Space

      Commercial space available for rent on Telegraph Road.
      23262 Telegraph Rd, Southfield, MI 48033
      View Details
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    23055 Telegraph Rd
    Southfield, MI 48033-4105
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    Realmo Value Estimation

    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.

    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.

    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
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