Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    24381 Orch Lk Rd Farmington Hills, MI 48336-1917
    Back to Search
    Property profile & analytics

    24381 Orch Lk Rd Farmington Hills, MI 48336-1917

    View on Map
    • Office buildings
    • 4,687 SF
    • 1.26 lot acres
    Off-Market
    Last Sale Mar 21, 2025
    $1,100,000
    Property ID
    US43-4817683
    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
    $1,055,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 24381 Orch Lk Rd

    Year built
    1980
    Lot size
    1.26 lot acres
    Property size
    4,687 SF
    Zone code
    BI
    Property type
    Office buildings
    APN
    22-23-22-476-040
    APU
    222322476040

    Description

    This exceptional 10,000-square-foot medical office building, situated on a spacious 1.26-acre lot in Farmington Hills, Michigan, presents a compelling investment opportunity. Built in 2002 and extensively renovated in 2015, the property boasts a single-story design with a fully renovated basement adding approximately 5,000 square feet of usable space. The interior features high-quality finishes including luxury vinyl plank and ceramic tile flooring. The basement includes a kitchen and full bath complete with a jacuzzi tub. The building is equipped with multiple HVAC zones, a comprehensive sprinkler and security system, and a backup generator, ensuring both comfort and safety. Ample parking is provided with 27 spaces. Its prime location along Orchard Lake Road, a high-traffic thoroughfare with over 20,000 cars daily, offers excellent visibility and accessibility. The property is zoned OS-2 (Office Service 2) and features multiple points of entry, making it ideal for a multi-tenant configuration. The asking price is $1,200,000. The property's APN is 23-22-476-040. This well-maintained building offers a peaceful setting, set back from the road, and represents a strong investment in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,000,000
      ML approach
      $1,030,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $655,000
      Market price range: $363k - $655k
      AI Estimate
      $646,000
      Market price range: $222k - $649k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,150,000
      COMMERCIAL (GENERAL)
      $825,000
      MEDICAL BUILDING
      $740,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Farmington Hills
    County
    Oakland
    State
    Michigan
    Longitude
    -83.3581
    Latitude
    42.4722
    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
    $11,914
    $151,190
    $200,420
    $351,610
    -
    $302,380
    $400,840
    $703,220

    Comparable in this City

    • Value Estimation by Request
      938 SF

      33100 Grand Riv Ave

      OFFICE BUILDING • 938 SF
      33100 Grand Riv Ave, Farmington, MI 48336-3120
      View Details
    • Value Estimation by Request
      2,051 SF

      32721 Grand Riv Ave

      OFFICE BUILDING • 2,051 SF
      32721 Grand Riv Ave, Farmington, MI 48336-3113
      View Details
    • Value Estimation
      $510,000
      5,640 SF

      22500 Orch Lk Rd

      OFFICE BUILDING • 5,640 SF
      22500 Orch Lk Rd, Farmington, MI 48336-3242
      View Details
    • Value Estimation
      $980,000
      7,392 SF

      22725 Orch Lk Rd

      OFFICE BUILDING • 7,392 SF
      22725 Orch Lk Rd, Farmington, MI 48336-3228
      View Details
    • Value Estimation by Request
      1,353 SF

      33023 Thomas St

      OFFICE BUILDING • 1,353 SF
      33023 Thomas St, Farmington, MI 48336-2348
      View Details
    • Value Estimation by Request
      4,008 SF

      24283 Middlebelt Rd

      OFFICE BUILDING • 4,008 SF
      24283 Middlebelt Rd, Farmington Hills, MI 48336-2132
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,619 SF

      Farmington Hills Office Building

      3,619 SF office building for sale.
      29250 W 9 Mile Rd, Farmington Hills, MI 48336
      View Details
    • Contact for pricing
      3,619 SF

      Farmington Hills Office Building

      3,619 SF office building in Farmington Hills, Michigan.
      29250 W 9 Mile Rd, Farmington Hills, MI 48336
      View Details
    • Contact for pricing
      3,110 SF

      Versatile Retail/Office Space Available

      Adaptable commercial space suitable for office, medical, or retail use.
      29010 W 8 Mile Rd, Farmington Hills, MI 48336
      View Details
    • Contact for pricing
      3,000 SF

      Office/Retail Building on Eight Mile

      3,000 SF building suitable for office or retail use.
      25710 W 8 Mile Rd, Farmington Hills, MI 48336
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Professional Office Building For Lease

      Professional office building available for lease in Farmington Hills.
      30630 W 12 Mile Rd, Farmington Hills, MI 48336
      View Details
    • Contact for pricing

      Renovated Office Building with Suites

      Completely renovated office building with suites available for lease.
      25882 Orchard Lake Rd, Farmington Hills, MI 48336
      View Details
    • Contact for pricing

      Class A Office Complex

      285,000 SF office complex on over 30 acres for rent.
      27777 Inkster Rd, Farmington Hills, MI 48336
      View Details
    • Contact for pricing

      Industrial Building at Orchard Lake

      Multi-tenant industrial building with warehouse and office space for rent.
      20768 Orchard Lake Rd, Farmington Hills, MI 48336
      View Details
    • Contact for pricing

      Versatile Farmington Hills Medical/Office Space

      12,000 SF office/medical space, easily divisible, high-traffic location.
      28511 Orchard Lake Rd, Farmington Hills, MI 48336
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    24381 Orch Lk Rd
    Farmington Hills, MI 48336-1917
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    24381 Orch Lk Rd, Farmington Hills, MI, 48336
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!