Property profile

24735 Crestview Ct Farmington Hills, MI 48335

OFF-MARKET
Manufacturing properties
Property ID
US43-1701393
13,307 SF 2.31 ac lot Built 1978
Entity Owned 1-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

This freestanding industrial building, situated on a 2.3-acre lot in Farmington Hills, Michigan, presents a compelling investment opportunity. The 13,307-square-foot structure, built in 1978 and zoned for light industrial use, boasts a 14'6" ceiling height, ideal for various manufacturing and warehousing needs. The property includes 1,500 square feet of air-conditioned office space, enhancing its functionality. Access is provided by one dock-high door and two grade-level doors. Significant power is available with 1200 amps, 240 volts, and 3-phase power. The building is further equipped with one 1-ton and one ½-ton crane, adding to its operational capabilities. The partially paved and fenced yard is currently partially leased for RV/boat storage, offering potential for additional income. The existing tenant will be vacating, providing immediate occupancy for a new owner. This property is priced at $1,625,000 and offers a rare combination of size, features, and location within the desirable Farmington Hills market. The property's zoning and ample power supply make it suitable for a wide range of industrial uses. The existing infrastructure, including cranes and ample power, minimizes upfront capital expenditures for a new owner. The partially leased yard provides an immediate revenue stream and potential for future development. This is a turnkey opportunity for an investor or business seeking a well-equipped industrial space in a prime location.

Property profile

Verified
Property type Manufacturing properties
Use group MANUFACTURING (LIGHT)
Year built 1978
Total area 13,307 SF
Lot 2.31 ac (100,406 SF)
Zoning code II
APN 22-23-19-326-044
UPID US43-1701393

Cap rate & NOI

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

Location

24735 Crestview Ct Farmington Hills, MI 48335-1507
Farmington Hills metro Census 168400 DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$1.05M
CAP Approach CAP
$1.02M
Comparable Approach Comparable
$1.04M
Blend (final) Blend
$945k

Owner & transaction history

since 2024
Last sale
$1.4M
2 recorded transactions
2024
$1.4M
2021
$900,000

Zoning & alternative use

II · Farmington Hills, MI
Top alternative use upside
Auto repair, garage $1.6M +51.4%
Office building $1.6M +44.9%
Neighborhood: shopping center $1.2M +14.9%

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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