Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    23300 Farmington Rd Farmington, MI 48336
    Property profile & analytics

    23300 Farmington Rd Farmington, MI 48336

    View on Map
    • Commercial real estate
    Off-Market
    Property ID
    US43-1229359
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Fresh Thyme Market / Bakery / Specialty Food Shop

    Property Details for 23300 Farmington Rd

    Property type
    Commercial real estate

    Description

    Downtown Farmington Center is a 100% leased grocery-anchored shopping center located at the heart of the affluent northwest suburban Detroit community of Farmington, Michigan.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Farmington
    County
    Oakland
    State
    Michigan
    Longitude
    -83.3748216
    Latitude
    42.4626766

    Comparable in this City

    • Contact for pricing
      3,110 SF

      Versatile Retail/Office Space Available

      Adaptable commercial space suitable for office, medical, or retail use.
      29010 W 8 Mile Rd, Farmington Hills, MI 48336
      View Details
    • Contact for pricing
      3,000 SF

      Office/Retail Building on Eight Mile

      3,000 SF building suitable for office or retail use.
      25710 W 8 Mile Rd, Farmington Hills, MI 48336
      View Details
    • $775,000

      Farmington Hills Specialty Property

      Specialty property available for sale in Farmington Hills, Michigan.
      24020 Orchard Lake Rd, Farmington Hills, MI 48336
      View Details
    • Contact for pricing
      9,388 SF

      Mixed-Use Building with Commercial Space

      Mixed-use building with apartments and commercial space for sale.
      29222 Grand River Ave, Farmington Hills, MI 48336
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,005 SF

      Farmington Hills Redevelopment Opportunity

      Redevelopment site at Middlebelt and 9 Mile Road.
      22412 Middlebelt Rd, Farmington Hills, MI 48336
      View Details
    • Contact for pricing
      28,148 SF

      Manufacturing Property with Modern Amenities

      Two buildings on 2.75 acres, ideal for manufacturing.
      31666 W Eight Mile Rd, Farmington, MI 48336
      View Details
    • Contact for pricing

      Commercial Land For Sale

      Development parcel for mixed-use or commercial with drive-thru potential.
      29033 Grand River Ave, Farmington Hills, MI 48336
      View Details
    • Contact for pricing
      2,280 SF

      Turnkey Dry Cleaner Near Downtown

      Freestanding retail building near downtown Farmington, Michigan.
      32065 Grand River Ave, Farmington, MI 48336
      View Details

    Similar Nearby for Lease

    • $867 /Mo
      8,287 SF

      Farmington Hills Commercial/Industrial Space

      Office, medical, dental space in Farmington Hills, close to 696.
      24380 Orchard Lake Rd, Farmington Hills, MI 48336
      View Details
    • Contact for pricing

      Office/Retail Building on Eight Mile

      3,000 SF office/retail building, divisible, near major routes.
      27510 8 Mile Rd W, Farmington Hills, MI 48336
      View Details
    • Contact for pricing

      Commercial Space Available for Lease

      Commercial property available for lease in Farmington Hills, Michigan.
      28625 Grand River Ave, Farmington Hills, MI 48336
      View Details
    • $11 SF/Yr
      1,200 SF

      Centrally Located Office Suite

      1,200 SF office suite with private entry.
      23332 Orchard Lake Rd, Farmington Hills, MI 48336
      View Details
    • $15 SF/Yr

      Industrial/Retail Space on 8 Mile

      Centrally located industrial/retail space in Metro Detroit with high ceilings.
      32210 W 8 Mile Rd, Farmington Hills, MI 48336
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    23300 Farmington Rd
    Farmington, MI 48336
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    23300 Farmington Rd, Farmington, MI, 48336
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!