Property profile

23227 Commerce Dr Farmington Hills, MI 48335

FOR LEASE
Manufacturing properties
Property ID
US43-1159146
59,565 SF 5.04 ac lot Built 1998
Entity Owned 3-yr Hold Free & Clear
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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

Location

23227 Commerce Dr Farmington Hills, MI 48335
Farmington Hills metro Census 168400 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
$4.54M
Comparable Approach Comparable
by Request
Blend (final) Blend
$3.40M

Owner & transaction history

since 2023
1 recorded transaction
2023
Price N/A

Zoning & alternative use

II · Farmington Hills, MI
Top alternative use upside
Neighborhood: shopping center $5.5M +14.9%

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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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