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    26699 12th Mile Rd Southfield, MI 48034-1578
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    Property profile & analytics

    26699 12th Mile Rd Southfield, MI 48034-1578

    View on Map
    • Medical Office Space
    • 23,984 SF
    • 1.66 lot acres
    Off-Market
    Property ID
    US43-0098903
    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
    $4,560,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Medical Office Space

    Property Details for 26699 12th Mile Rd

    Year built
    1986
    Lot size
    1.66 lot acres
    Property size
    23,984 SF
    Zone code
    OS
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    76-24-18-127-003
    APU
    762418127003

    Description

    This exceptional Southfield office building, located at 26699 W 12 Mile Rd, offers a prime opportunity for businesses seeking flexible and modern workspace. The two-story, Class C building, totaling 23,984 square feet, underwent renovations in 2019, ensuring contemporary amenities and functionality. Multiple tenancy options are available, with spaces ranging from a minimum of 853 square feet to a maximum contiguous space of 1,290 square feet. Currently, 2,143 square feet of space is vacant and ready for immediate occupancy. The building boasts ample parking with 105 spaces available for tenants and their clients. Built in 1986 and strategically zoned OS (Office Services) in Oakland County, Michigan, this property provides easy access to major thoroughfares and is ideally situated in the thriving Southfield business district. The property's address is 26699 W 12 Mile Rd, Southfield, MI 48034, with the APN 24-18-127-003. This is an excellent opportunity to establish or expand your business in a well-maintained and conveniently located office setting. Contact us today to schedule a viewing and explore the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,410,000
      6.5%
      $4,995,000
      7%
      $4,635,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Southfield
    County
    Oakland
    State
    Michigan
    Longitude
    -83.3111
    Latitude
    42.4997
    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
    2022
    $63,306
    $104,130
    $1,518,930
    $1,623,060
    -
    $208,260
    $3,037,860
    $3,246,120

    Comparable in this City

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      27211 Lahser Rd

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    • Value Estimation
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    • Value Estimation
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      26206 12th Mile Rd

      MEDICAL BUILDING • 26,259 SF
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      View Details
    • Value Estimation
      $4,450,000
      27,465 SF

      29255 Northwestern Hwy

      MEDICAL BUILDING • 27,465 SF
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      View Details

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      Southfield Flex/Industrial/Office Space For Sale

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      Southfield Office Building For Sale

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      10,400 SF

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      Versatile property with high traffic, development potential, and diverse zoning.
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    • $1,200,000
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      Well-Maintained Office Building For Sale

      Corporate-owned office building suitable for owner-occupant with easy freeway access.
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    Similar Nearby for Lease

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      Southfield Wellness Building For Rent

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    • $2,000 /Mo

      Freestanding Medical Building For Lease

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      Medical Office Condos For Lease

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      View Details
    • Contact for pricing

      Medical Office Space Available

      Institutionally owned medical office building near major hospitals.
      26400 W Twelve Mile Rd, Southfield, MI 48034
      View Details
    Request Owner's contact information
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    26699 12th Mile Rd
    Southfield, MI 48034-1578
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    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
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