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Financial
Distress signals
Property profile

28400 Northwestern Hwy Southfield, MI 48034

FOR LEASE
Office buildings
View Listing
Property ID
US43-1242098
60,164 SF 3.79 ac lot Built 1986
Last sale Sep 2024
Entity Owned Owner of record is a legal entity (LLC / corporation). 2-yr Hold Held for 2 years. Absentee Owner Owner mailing address differs from the property address. ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
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Property summary

AI-generated overview

Essex Centre, located at 28400 Northwestern Hwy in Southfield, Michigan, 48034, offers a prime opportunity for businesses seeking office space in a convenient location. This four-story, Class B office building boasts a total of 60,000 square feet and features multiple tenancy options. Currently, five spaces are available, ranging in size from 2,551 square feet to 41,403 square feet, providing flexibility for businesses of various sizes. The building offers both executive and traditional…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2022

What does the county charge?
$111k
Tax billed · 2022
Assessed value$2.36M
Assessed land$238k
Assessed improvement$2.12M
Effective rate4.70%

Value estimate

· Oct 2026
$2.80M
$2.52M – $3.08M
CAP approach$3.40M
Submarket $/SF estimate$1.81M
NOI build-up
Gross scheduled income$360k
Vacancy & credit loss−$85k
Operating expenses−$69k
NOI · 2,075,879.40% cap applied$207k

Realmo valuation models over county records.

Recently sold

What actually traded nearby?
$79/SF
Submarket average, outlier-cleaned · 64 recorded sales of this use type
Observed band · Q1–Q3$44 – $114

Cap rate analysis

How does the asset earn?
2,075,879.40%
$207k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
RC
The Regional Center District is intended to provide for the combining of high riseoffice, high rise multiple-family, and hotels and motel...
General categoryPLANNED_DEVELOPMENT
JurisdictionOAKLAND

Location intelligence

Which uses thrive at this corner?
Best fit: Parking Facility
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Parking Facility12.5
Daycare Center12.2
Building Supply12.1

Location

28400 Northwestern Hwy Southfield, MI 48034
County assessor Recorded deeds · 4 transfers Qualifying comp sales · not on file Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 18 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
27400 Northwestern, Southfield, MI 48034-4724 $2,200,000 Nov 2022 125,000 SF
29792 Telegraph, Southfield, MI 48034-7670 $717,500 May 2021 8,912 SF
28819 Franklin, Southfield, MI 48034-5520 $3,200,000 Apr 2019 32,416 SF
28444 Franklin, Southfield, MI 48034-5504 $560,000 Feb 2019 7,200 SF
28382 Franklin, Southfield, MI 48034-5503 $600,000 Dec 2018 7,200 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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