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Property profile & analytics
OFF-MARKET Estimated value $870,000
Office buildings

24450 Evergreen Rd Southfield, MI 48075-5518

33,600 SF 1.8 ac lot Built 1970
Entity Owned 13-yr Hold Absentee Owner Free & Clear
Property ID
US43-5247227
Property summary
AI-generated overview

This exceptional 33,600 square foot office building, situated on a 5.39-acre lot in Southfield, Michigan, presents a compelling investment opportunity. The property, built in 1971 and renovated in 1995, is classified as Class C and currently operates as a multi-tenant executive office space with a net lease structure. The building offers 5,000 square feet of net rentable space, priced at $80.36 per square foot, with an asking price of $2,700,000. The property boasts ample parking, providing 4.3 spaces per 1,000 square feet. Its (OS) Office Service zoning designation opens doors to diverse redevelopment possibilities. A significant advantage is the inclusion of an undeveloped 3.59-acre parcel adjacent to the existing office building, further enhancing its potential. This owner/user opportunity is ideally located in the heart of Southfield, MI, at 24450 Evergreen Rd, zip code 48075, within Oakland County. The substantial lot size and existing building structure provide a unique blend of immediate income potential and long-term development prospects. This is a rare chance to acquire a significant property in a thriving Michigan market.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1970
Total area 33,600 SF
Lot 1.8 ac (78,539 SF)
Zoning code OS
APN 76-24-26-151-005
UPID US43-5247227
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
  • Rita Banno Dental Office
  • Stines Dental Associates Dental Office Physician
  • Lipton Teo DDS Dental Office
  • Empowered Smiles & Implants Center, Oscar Gagoh, DDS,FDS, RCPS Dental Office
  • Exfinity Home Care Security Service
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$740k
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.01M
Blend (final) Blend
$870k
Owner & transaction history
Chand Professional Prop INC · 13 yrs held
Chand Professional Prop INC
since 2012
5 recorded transactions
2012
$1.5M
2012
Price N/A
2004
$2.1M
1969
Price N/A
1969
Price N/A
Zoning & alternative use
OS · Southfield, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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