New search
Property profile & analytics
OFF-MARKET
Estimated value
$595,000
Office buildings
24225 9th Mile Rd, Southfield, MI 48033-3962
Entity Owned
6-yr Hold
Free & Clear
Property ID
US43-1734434
Property summary
AI-generated overview
This exceptional Southfield, MI office property at 24225 W Nine Mile Rd (cross streets: 9 Mile and Telegraph Rd), offers a variety of flexible lease options in a newly renovated building. The 18,000 square foot, two-story building, constructed in 1970 and completely renovated in 2023, features multiple tenancy options ranging from 350 to 850 square feet. Available spaces include single offices and suites, all boasting new flooring and fresh paint. The building is conveniently located in Southfield, MI, 48033, providing easy access for employees and clients alike. While there are no elevators, the building offers 24/7 access for tenants and staff. Professional tenants only
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1972
Total area
16,758 SF
Lot
1.14 ac (49,484 SF)
Zoning code
OS
APN
76-24-32-226-027
UPID
US43-1734434
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$385k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$741k
Blend (final)
Blend
$595k
Owner & transaction history
24225 Place LLC · 6 yrs held
24225 Place LLC
since 2020
2 recorded transactions
Zoning & alternative use
OS · Southfield, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Southfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Southfield submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$385,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$595k
Range $536k – $655k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$36 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$9,387
Tax year 2022
Assessed value
$164,670
Assessed 2022
Previous assessed
$164,670
+0.0% YoY
Effective rate
5.70%
On assessed value
Assessed land
$50,000
Assessed improvement
$114,670
Land market value
$100,000
Improvement market value
$229,340
Total market value
$329,340
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1972
Heating
FORCED AIR
Cooling
YES
Stories
2
Units
1
Total area
16,758 SF
Lot
1.14 ac (49,484 SF)
Zoning code
OS
APN
76-24-32-226-027
UPID
US43-1734434
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
OS · Southfield, MI
Zoning OS · permitted uses
OS · Southfield, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Southfield. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1972
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
1
Lot
1.14 ac
Current owner
From public records · entity-resolved
24225 Place LLC
Entity
Free & Clear · 6 yrs held
Mailing address
24225 W 9TH MILE RD STE #135, SOUTHFIELD, MI 48033-3990
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 19, 2022
—
24225 Place LLC
—
Deed
related
$1,755,000 · Horizon Bank
Feb 4, 2020
—
24225 Place LLC
Thomas H Griesen
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 24225 9th Mile Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
