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    2350 Franklin Rd Bloomfield Hills, MI 48302
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    Property profile & analytics

    2350 Franklin Rd Bloomfield Hills, MI 48302

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    • Manufacturing properties
    • 21,014 SF
    • 1.49 lot acres
    For Lease
    $18 SF/Yr
    View Listing →
    Bloomfield Hills Office Suites Available For Lease
    $18 SF/Yr
    6,603 SF

    Bloomfield Hills Office Suites Available

    Two-story office building with ample parking and professional management.

    2350 Franklin Road, Bloomfield Hills, MI 48302
    View Listing
    Property ID
    US43-1151633
    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

    • Manufacturing properties

    Property Details for 2350 Franklin Rd

    Year built
    1990
    Lot size
    1.49 lot acres
    Property size
    21,014 SF
    Zone code
    II
    Property type
    Manufacturing properties
    APN
    C -19-05-476-079
    APU
    C1905476079

    Description

    This exceptional two-story office building, located at 2350 Franklin Road in Bloomfield Township, Michigan, offers three available suites ranging from 1,896 to 8,499 square feet. The 18,000-square-foot building boasts a total of 85 parking spaces, ensuring convenient access for employees and clients. Its prime location in Oakland County provides easy access to a wealth of amenities, including numerous retailers and restaurants. The property benefits from its proximity to major thoroughfares such as Telegraph Road, Woodward Avenue, and I-75, offering excellent connectivity throughout the region. The building itself is meticulously maintained and presents a clean, professional image, reflecting a commitment to quality and tenant satisfaction. Professional property management ensures a smooth and efficient operational experience. This is an ideal opportunity for businesses seeking high-quality office space in a desirable and convenient location. The zip code is 48302. This is a multi-tenant building.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,647,000
      Market price range: $1.12M - $2.25M
      AI Estimate
      $1,024,000
      Market price range: $492k - $1.70M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $1,700,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $1,955,000
      Change: +15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Bloomfield Hills
    County
    Oakland
    State
    Michigan
    Longitude
    -83.2882
    Latitude
    42.605
    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
    2023
    $25,191
    $0.00
    $0.00
    $599,340
    -
    $0.00
    $0.00
    $1,198,680

    Comparable in this City

    • Value Estimation
      $705,000
      11,122 SF

      766 Industrial Ct

      MANUFACTURING (LIGHT) • 11,122 SF
      766 Industrial Ct, Bloomfield Hills, MI 48302-0380
      View Details
    • Value Estimation
      $4,280,000
      34,480 SF

      788 Industrial Ct

      MANUFACTURING (LIGHT) • 34,480 SF
      788 Industrial Ct, Bloomfield Hills, MI 48302-0380
      View Details
    • Value Estimation
      $6,355,000
      93,507 SF

      2285 Franklin Rd, Unit 150

      MANUFACTURING (LIGHT) • 93,507 SF
      2285 Franklin Rd, Bloomfield Hills, MI 48302-0364
      View Details
    • Value Estimation
      $2,000,000
      31,125 SF

      281 Enterprise Ct

      MANUFACTURING (LIGHT) • 31,125 SF
      281 Enterprise Ct, Bloomfield Hills, MI 48302-0309
      View Details
    • Value Estimation
      $1,490,000
      22,686 SF

      450 Enterprise Ct, Unit 470

      MANUFACTURING (LIGHT) • 22,686 SF
      450 Enterprise Ct, Bloomfield Hills, MI 48302-0386
      View Details
    • Value Estimation
      $515,000
      8,080 SF

      2244 Franklin Rd

      MANUFACTURING (LIGHT) • 8,080 SF
      2244 Franklin Rd, Bloomfield Hills, MI 48302-0330
      View Details

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      Bloomfield Hills Professional Office Space

      Professional office spaces available for lease in Bloomfield Hills, MI.
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      Professional Offices For Lease

      Professional office spaces available for lease in Bloomfield Hills, MI.
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      View Details
    View Listing
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    Bloomfield Hills, MI 48302
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    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.

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