Technical
Financial
Distress signals
Property profile

24245 Karim Blvd Novi, MI 48375

FOR LEASE
Commercial real estate
Property ID
US43-0905759
18,370 SF 2.11 ac lot Built 1988
Entity Owned 2-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

This exceptional 18,350 square foot single-story office building, located at 24245 Karim Boulevard in Novi, Michigan, presents a fantastic opportunity. Currently classified as Class C, this property underwent a complete renovation in 2022, offering modern amenities within a convenient location. The building boasts 8,850 square feet of immediately available space, perfect for a variety of executive office or flex uses. With ample parking for 75 vehicles, client and employee convenience is ensured. The property is zoned OS-1 Office Service District within Oakland County (APN 22-24-476-019), providing flexibility for various business operations. Built in 1988, this building benefits from recent upgrades, combining the character of established infrastructure with contemporary functionality. The available space is part of a multi-tenant building, offering a collaborative environment. The property's address is 24245 Karim Boulevard, Novi, MI 48375. This prime location offers easy access to major roadways, enhancing accessibility for both employees and clients. The 8,850 square feet of vacant space provides a significant opportunity for businesses seeking expansion or relocation in a well-maintained and updated building. This is an ideal opportunity to secure a prominent presence in a thriving Oakland County business community.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1988
Total area 18,370 SF
Lot 2.11 ac (91,912 SF)
Zoning code OS-1
APN 50-22-24-476-019
UPID US43-0905759

Cap rate & NOI

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

Current use

Occupant on record · Public records
  • Physician Medical Clinic
  • Physician Medical Clinic
  • Spa & Massage Center Alternative Medicine Practice
  • Training Center Tutoring Service

Location

24245 Karim Blvd Novi, MI 48375
Novi metro Census 136601 DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$3.03M
Blend (final) Blend
$705k

Owner & transaction history

since 2024
5 recorded transactions
2024
Price N/A
2024
Price N/A
2024
Price N/A
2021
$975,000
2013
Price N/A

Zoning & alternative use

OS-1 · Novi, MI
Zoning description

3-112 1003A.6 ...Off-street parking a vehicular... 89 - - - Text no longer required - Covered under Section 3.1.15.D, Development Standards on pg 3-34 and Selected References 1003A.7 Building Design 89 3 3.25.2.G 3-113 O…

General category UNKNOWN
Top alternative use upside
Restaurant $3.2M +28.0%
Retail stores $3.1M +24.8%
Medical building $2.9M +16.7%

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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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