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    Property profile & analytics
    OFF-MARKET Estimated value $3,400,000
    Manufacturing properties

    23227 Commerce Dr, Farmington Hills, MI 48335-2705

    59,565 SF 5.04 ac lot Built 1998
    Entity Owned 3-yr Hold Free & Clear
    Property ID
    US43-1159146
    Property summary
    AI-generated overview

    This exceptional 59,564-square-foot flex building, situated on a 5.04-acre lot in the Farmington/Farm Hills submarket of Oakland County, presents a unique investment opportunity. Built in 1998, this single-story structure boasts a 20-foot clear height warehouse, perfectly suited for a variety of industrial uses. The warehouse area is fully air-conditioned, equipped with 480-volt power, buss duct, and ample skylights for natural illumination. Two grade-level doors and two truckwells ensure efficient loading and unloading. The building also includes 25,838 square feet of office space, adaptable to lab, assembly, or additional warehouse needs. With 98 total parking spaces and convenient access via Commerce Drive and 10 Mile Road, this property is strategically located within an industrial/manufacturing zoned area. The building's attractive design and well-maintained condition make it an ideal choice for businesses seeking a functional and versatile space. The asking price is $6,250,000, translating to $104.93 per square foot. This property offers significant potential for growth and return on investment. The building features two dock-high doors. Electrical service is 1000 amps, 480 volts.

    Property profile
    Verified
    Property type Manufacturing properties
    Use group MANUFACTURING (LIGHT)
    Year built 1998
    Total area 59,565 SF
    Lot 5.04 ac (219,455 SF)
    Zoning code II
    APN 22-23-30-328-013
    UPID US43-1159146
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    $4.54M
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    $3.40M
    Owner & transaction history
    City Of Farmington Hills · 3 yrs held
    City Of Farmington Hills
    since 2023
    1 recorded transaction
    2023
    Zoning & alternative use
    II · Farmington Hills, MI
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Neighborhood: shopping center $5.5M +14.9%
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