Property profile

24050 9th Mile Rd Southfield, MI 48033

OFF-MARKET
Strip malls
Property ID
US43-0983898
4,875 SF 0.74 ac lot Built 1970
Entity Owned Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional investment opportunity presents a 4,875 square foot industrial flex property situated on a 0.73-acre lot at 24050-24070 W 9 Mile, Southfield, MI. Currently 100% occupied by long-term tenants, this property offers a stable and predictable income stream. Recent improvements include a brand new roof and HVAC system, ensuring efficient and cost-effective operation. The parking lot has recently been restriped, providing ample parking for tenants and visitors. Low property taxes further enhance the profitability of this investment. Each unit features separate storage space in its subdivided basement, adding significant value and utility. The property boasts a prime location with convenient access to major roads and freeways, ensuring excellent accessibility for tenants and customers. This is a turnkey investment opportunity ideal for those seeking a stable, high-return property with minimal immediate capital expenditure requirements. The property's strong tenant base and recent upgrades make it a compelling investment prospect in the thriving Southfield market. The combination of low taxes, excellent location, and recent capital improvements positions this property for continued strong performance.

Property profile

Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1970
Total area 4,875 SF
Lot 0.74 ac (32,017 SF)
Zoning code I-1
APN 76-24-29-476-025
UPID US43-0983898

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

24050 9th Mile Rd Southfield, MI 48033-3904
Southfield metro Census 161700 DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$345k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$375k

Owner & transaction history

since 2025
5 recorded transactions
2025
Price N/A
2025
Price N/A
2023
Price N/A
1969
Price N/A
1969
Price N/A

Zoning & alternative use

I-1 · Southfield, MI
Zoning description

The intent of this zone is to promote industrial uses

General category INDUSTRIAL

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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