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Property profile & analytics
FOR LEASE
Commercial real estate

24245 Karim Blvd Novi, MI 48375

18,370 SF 2.11 ac lot Built 1988
Entity Owned 2-yr Hold Absentee Owner Free & Clear
Property ID
US43-0905759
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
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Ellen Ozolins MD Physician Medical Clinic
  • Gregory E. Lakin, MD Physician Medical Clinic
  • Illuum Cosmetic Surgery Spa & Massage Center Alternative Medicine Practice
  • GEMS Training Center Tutoring Service
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$3.03M
Blend (final) Blend
$2.93M
Owner & transaction history
5p Gl Karim Properites LLC · 2 yrs held
5p Gl Karim Properites LLC
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
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant $3.2M +28.0%
Retail stores $3.1M +24.8%
Medical building $2.9M +16.7%
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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