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    28100 Cabot Dr Novi, MI 48377
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    Property profile & analytics

    28100 Cabot Dr, Novi, MI 48377

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    • Commercial real estate
    • 58,430 SF
    • 5.88 lot acres
    For Lease
    $14 SF/Yr
    View Listing →
    Office Space for Lease For Lease
    $14 SF/Yr

    Office Space for Lease

    Office space available for lease in Novi, Michigan.

    28100 Cabot Dr, Novi, MI 48377
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    Property ID
    US43-1486268
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • ChargePoint Charging Station / Electric Vehicle Charging Station
    • Micron Semiconductor Products Inc. / Computer Hardware Manufacturer
    • Microchip Technology Inc / Industrial Manufacturer / Production Facility
    • Federal APD Federal Signal Technologies / Security Service
    • ProTrans Regional Office (Novi) / Logistics Company / Freight Service

    Property Details for 28100 Cabot Dr

    Year built
    2001
    Lot size
    5.88 lot acres
    Zone code
    OST
    Property type
    Commercial real estate
    APN
    50-22-12-400-065
    APU
    502212400065

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 3, 2015 — Haggerty Corridor Office Centr Haggerty Corridor Partners LLC Quit Claim Deed · related $6M · Flagstar Bk

    Description

    Haggerty Corporate Office Centre III, a Class A office building located at 28100 Cabot Drive in Novi, Michigan, offers ±22,000 square feet of immediately available executive office space. This multi-tenant building totals 58,430 square feet and sits on a 3.9-acre lot. Built in 2003, the property boasts ample parking with 244 spaces available for tenants and their guests. The building is zoned OST and its Oakland County APN is 22-12-400-065. The available space is ideal for a business seeking a prestigious location in Novi, offering immediate occupancy of a significant footprint. The building's prime location provides easy access to major roadways and amenities. This is an exceptional opportunity to secure high-quality office space in a thriving business community. The property features a modern design and is well-maintained. Interested parties should inquire about specific lease terms and conditions. The available space is approximately 22,000 square feet. The zip code is 48377.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $11,396,000
      Market price range: $5.84M - $12.4M
      AI Estimate
      $10,191,000
      Market price range: $4.90M - $11.3M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $8,645,000
      Current use
      RESTAURANT
      $10,115,000
      Change: +17% Conversion: Difficult
      RETAIL STORES
      $9,860,000
      Change: +14% Conversion: Easy
      MEDICAL BUILDING
      $9,225,000
      Change: +7% Conversion: Easy
      AUTO REPAIR, GARAGE
      $7,160,000
      Change: -17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Novi
    County
    Oakland
    State
    Michigan
    Longitude
    -83.4394
    Latitude
    42.4991
    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
    $143,726
    $0.00
    $0.00
    $4,608,850
    -
    $0.00
    $0.00
    $9,217,700

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      40333 14th Mile Rd

      COMMERCIAL (GENERAL)
      40333 14th Mile Rd, Novi, MI 48377-1609
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      76,252 SF

      31120 Beck Rd

      COMMERCIAL (GENERAL)
      31120 Beck Rd, Novi, MI 48377-1020
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      $5,415,000
      44,792 SF

      46855 Magellan Dr

      COMMERCIAL (GENERAL)
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      View Details

    Similar Nearby for Sale

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      5-acre commercial land suitable for various development projects.
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      Haggerty Road Land For Sale

      Prime land available on Haggerty Rd, Novi, MI.
      27175 Haggerty Rd, Novi, MI 48377
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      Land For Sale

      Land available for sale.
      46735 W Twelve Mile Rd, Novi, MI 48377
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      176,160 SF

      Multi-Tenant Flex/R&D Park Investment

      Class A flex/R&D park in Novi, Michigan for sale.
      27175 Haggerty Rd, Novi, MI 48377
      View Details
    • $325,000
      0.17 Acres

      Residential Land in Novi, MI

      Residential lot with sunset views, close to amenities.
      2094 Austin Dr, Novi, MI 48377
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    Similar Nearby for Lease

    • Contact for pricing

      Office and Medical Suites Available

      Move-in ready office and medical suites in desirable location.
      42450 Twelve Mile Rd, Novi, MI 48377
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      1,623 SF

      Novi Office Space For Lease

      Office suites available in Novi, Michigan, up to 6,000 SF.
      39475 Thirteen Mile Rd, Novi, MI 48377
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    • Contact for pricing
      5,000 SF

      Novi Retail Space Available

      Retail space available for lease in Novi, Michigan.
      30900-30990 Beck Rd, Novi, MI 48377
      View Details
    • Contact for pricing
      10,250 SF

      Novi R&D Park Suites

      R&D park suites available with frontage on Haggerty Road.
      27275 Haggerty Rd, Novi, MI 48377
      View Details
    • Contact for pricing

      Retail Space for Lease

      Retail space available for lease in Novi, Michigan.
      31202 Beck Rd, Novi, MI 48377
      View Details
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    Novi, MI 48377
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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.

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