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    23629 Liberty St Farmington, MI 48335-3568
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    Property profile & analytics

    23629 Liberty St Farmington, MI 48335-3568

    View on Map
    • Office buildings
    • 4,320 SF
    • 0.27 lot acres
    Off-Market
    Last Sale Dec 19, 2025
    $735,000
    Property ID
    US43-5198435
    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
    $685,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Pascaris Law Firm, PLLC / Law Firm
    • Infomatics Technologies Inc / (Bike/Boat/Book/etc) Store / Corporate Office
    • Barbas & Pascaris Insurance Agency- Farm Bureau Insurance / Insurance Agency
    • Aho & Potti, LLP / Law Firm

    Property Details for 23629 Liberty St

    Year built
    1969
    Lot size
    0.27 lot acres
    Property size
    4,320 SF
    Zone code
    OS
    Property type
    Office buildings
    APN
    20-23-28-276-011
    APU
    202328276011

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $581,000
      Market price range: $399k - $654k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $515,000
      Current use
      RETAIL STORES
      $1,010,000
      Change: +95% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $760,000
      Change: +47% Conversion: Easy
      MEDICAL BUILDING
      $680,000
      Change: +32% Conversion: Easy
      AUTO REPAIR, GARAGE
      $530,000
      Change: +3% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Farmington
    County
    Oakland
    State
    Michigan
    Longitude
    -83.3789
    Latitude
    42.4651
    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
    $12,520
    $0.00
    $0.00
    $235,170
    -
    $0.00
    $0.00
    $470,340

    Comparable in this City

    • Value Estimation
      $5,595,000
      114,345 SF

      39000 Grand Riv Ave

      OFFICE BUILDING • 114,345 SF
      39000 Grand Riv Ave, Farmington, MI 48335-1500
      View Details
    • Value Estimation by Request
      8,660 SF

      24543 Indoplex Cir

      OFFICE BUILDING • 8,660 SF
      24543 Indoplex Cir, Farmington Hills, MI 48335-2529
      View Details
    • Value Estimation by Request
      1,992 SF

      33443 9th Mile Rd

      OFFICE BUILDING • 1,992 SF
      33443 9th Mile Rd, Farmington, MI 48335-4702
      View Details
    • Value Estimation
      $615,000
      4,354 SF

      33425 Grand Riv Ave

      OFFICE BUILDING • 4,354 SF
      33425 Grand Riv Ave, Farmington, MI 48335-3567
      View Details
    • Value Estimation
      $755,000
      6,351 SF

      24100 Drake Rd

      OFFICE BUILDING • 6,351 SF
      24100 Drake Rd, Farmington Hills, MI 48335-3155
      View Details
    • Value Estimation
      $1,005,000
      19,348 SF

      24288 Indoplex Cir

      OFFICE BUILDING • 19,348 SF
      24288 Indoplex Cir, Farmington Hills, MI 48335-2522
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      20,968 SF

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      Industrial property featuring renovated office space and warehouse upgrades.
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      Showroom and Office Space

      Well-located building with showroom and office space available for sale.
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      Flex space with office configuration, freeway access, signage available.
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      Farmington Hills Flex/Industrial Space

      Flex/industrial space with quick highway access in Farmington Hills.
      37840 Interchange Dr, Farmington Hills, MI 48335
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    Similar Nearby for Lease

    • $80 SF/Yr

      Farmington Hills Professional Office Building

      Professional office building in Farmington Hills with flexible spaces.
      22710 Haggerty Rd, Farmington Hills, MI 48335
      View Details
    • Contact for pricing

      Grand River Office Building

      Modern office building with style, accessibility, and comfort.
      37000 Grand River Ave, Farmington Hills, MI 48335
      View Details
    • Contact for pricing

      Class A Mixed-Use Building

      Class A mixed-use building with retail and office space.
      37085 Grand River Ave, Farmington, MI 48335
      View Details
    • Contact for pricing

      Office and Retail Space Available

      Office and retail spaces with prominent signage and private entrances.
      Farmington, MI 48335
      View Details
    • $80 SF/Yr
      100 SF

      Professional Office Building in Farmington Hills

      Premium office spaces available in Farmington Hills, near major freeway.
      22710 Haggerty Rd, Farmington Hills, MI 48335
      View Details
    • Contact for pricing
      16,845 SF

      Office and R&D Space

      Office and R&D space available for lease or purchase.
      22670 Haggerty Rd, Farmington Hills, MI 48335
      View Details
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    Farmington, MI 48335-3568
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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.

    More about this property
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    23629 Liberty St, Farmington, MI, 48335
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