Property profile

24555 Hallwood Ct Farmington Hills, MI 48331

FOR LEASE
Industrial properties
Property ID
US43-5167108
13,101 SF 1.06 ac lot Built 1986
Entity Owned 1-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 13,101 square foot medical office building, located at 24555 Hallwood Ct in Farmington Hills, Michigan, presents a unique investment opportunity. The property, situated on a one-acre lot (43,560 square feet), is a single-story, Class B building constructed in 1989. Currently undergoing renovations, the building offers multiple suites, with a minimum divisible space of 600 square feet and a maximum contiguous space of 2,000 square feet. A significant 2,000 square feet of vacant space is immediately available. The zoning is specifically designated for medical offices, making it ideal for a variety of healthcare practices. The building's location within the Farmington/Farm Hills submarket of Oakland County, Michigan (zip code 48331), provides excellent access to a thriving patient base. The existing tenant, a Diagnostic and Therapeutic Imaging practice, suggests potential synergies for practices such as Occupational Therapy, Physical Therapy, Sports Medicine, or Rehabilitation Services, with the possibility of shared imaging equipment. This is a rare opportunity to secure space in a well-located, renovated medical office building in a high-demand area. The property is zoned for medical office use and offers a flexible layout to accommodate various healthcare needs. Don't miss this chance to establish or expand your practice in this desirable location.

Property profile

Verified
Property type Industrial properties
Use group INDUSTRIAL (GENERAL)
Year built 1986
Total area 13,101 SF
Lot 1.06 ac (46,174 SF)
Zoning code II
APN 22-23-19-426-034
UPID US43-5167108

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
  • Medical Group
  • Physician Medical Clinic
  • Physician Medical Clinic
  • Physician
  • Physician Medical Clinic

Location

24555 Hallwood Ct Farmington Hills, MI 48331
Farmington Hills metro Census 168700 DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$1.00M
Comparable Approach Comparable
by Request
Blend (final) Blend
$420k

Owner & transaction history

since 2024
4 recorded transactions
2024
Price N/A
2015
$680,000
2004
$1.2M
1969
Price N/A

Zoning & alternative use

II · Farmington Hills, MI
Top alternative use upside
Neighborhood: shopping center $1.2M +13.4%

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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