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    Property profile & analytics

    28650 Telegraph Rd Southfield, MI 48034-1934

    • Outlet malls
    • 141,980 SF
    • 10.98 lot acres
    OFF-MARKET
    Last Sale
    May 07, 2021
    Value Estimations
    $10,090,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1695394
    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.

    Current Use by Public Records

    • Installation Services / General Contractor
    • Primo Water Exchange / Big Box & Wholesale Store
    • Lowe's Home Improvement / Building Supply / Hardware & Home Improvement
    • Lowe's ProServices / Building Supply / Industrial Manufacturer
    • KeyExpress Locksmiths / Locksmith / (Bike/Boat/Book/etc) Store

    Property Details for 28650 Telegraph Rd

    Year built
    2002
    Lot size
    10.98 lot acres
    Property size
    141,980 SF
    Zone code
    RS
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    76-24-17-226-011
    APU
    762417226011

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $10,861,000
      Market price range: $10.9M - $43.6M

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

    Location Insight

    • Map
    • Local Demand
    City
    Southfield
    County
    Oakland
    State
    Michigan
    Longitude
    -83.2826
    Latitude
    42.4984
    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
    $232,328
    $1,554,440
    $1,995,060
    $3,549,500
    -
    $3,108,880
    $3,990,120
    $7,099,000

    Comparable in this City

    • Value Estimation
      $3,465,000
      46,513 SF

      27000 Telegraph Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 46,513 SF
      27000 Telegraph Rd, Southfield, MI 48034-1901
      View Details
    • Value Estimation
      $1,920,000
      16,000 SF

      24520 12th Mile Rd

      SHOPPING CENTER, STRIP CENTER • 16,000 SF
      24520 12th Mile Rd, Southfield, MI 48034-1207
      View Details
    • Value Estimation
      $2,190,000
      13,950 SF

      29504 Northwestern Hwy

      SHOPPING CENTER, STRIP CENTER • 13,950 SF
      29504 Northwestern Hwy, Southfield, MI 48034
      View Details
    • Value Estimation
      $750,000
      12,952 SF

      28637 Northwestern Hwy

      SHOPPING CENTER, STRIP CENTER • 12,952 SF
      28637 Northwestern Hwy, Southfield, MI 48034-1825
      View Details
    • Value Estimation by Request
      10,043 SF

      27566 Northwestern Hwy

      SHOPPING CENTER, STRIP CENTER • 10,043 SF
      27566 Northwestern Hwy, Southfield, MI 48034-4723
      View Details
    • Value Estimation
      $925,000
      7,040 SF

      28610 Northwestern Hwy

      SHOPPING CENTER, STRIP CENTER • 7,040 SF
      28610 Northwestern Hwy, Southfield, MI 48034-1829
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      10,400 SF

      High-Visibility Retail/Office Investment Opportunity

      Versatile property with high traffic, development potential, and diverse zoning.
      29229 Northwestern Hwy, Southfield, MI 48034
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      1,874 SF

      Established Gas Station on Hard Corner

      Gas station with high traffic location and established customer base.
      29150 Northwestern Hwy, Southfield, MI 48034
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      183,389 SF

      Single-Tenant Industrial Asset For Sale

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      20,164 SF

      Southfield Office Building For Sale

      Office building with 20164 square feet available for sale.
      26776 W Twelve Mile Rd, Southfield, MI 48034
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      Commercial Outlots on Northwestern Highway

      Two commercial outlots available on Northwestern Highway in Southfield.
      27400 Northwestern Hwy, Southfield, MI 48034
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    • $625,000
      15,580 SF

      Southfield Office Building For Sale

      Well-maintained office building with recent upgrades and easy freeway access.
      24700 West 11 Mile Rd, Southfield, MI 48034
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      3,470 SF

      Retail Space on Northwestern Highway

      Retail spaces available on high-traffic Northwestern Highway.
      28661 Northwestern Hwy, Southfield, MI 48034
      View Details
    • Contact for pricing

      Retail Center on Northwestern Highway

      Well-maintained retail center in Southfield with high visibility.
      28637 Northwestern Hwy, Southfield, MI 48034
      View Details
    • $17 SF/Yr
      5,929 SF

      Southfield Retail/Office Space For Lease

      Prime Southfield location, flexible suites available.
      29688 Telegraph Rd, Southfield, MI 48034
      View Details
    • Contact for pricing

      Retail Space at High-Traffic Intersection

      Retail space available in Southfield, MI at 12 Mile and Telegraph.
      24540-24555 W Twelve Mile Rd, Southfield, MI 48034
      View Details
    • Contact for pricing
      19,307 SF

      Southfield Retail Space For Lease

      Retail space available in high-traffic Southfield location.
      29649 Northwestern Hwy, Southfield, MI 48034
      View Details
    • Contact for pricing

      Office Space For Lease

      Office space available for lease in Southfield, Michigan.
      29777 Telegraph Rd, Southfield, MI 48034
      View Details

    Property Visit Statistics

    • Visits by month
      41.2k
    • Visitors by month
      29.8k
    • Avg Time on site
      25 min
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    28650 Telegraph Rd
    Southfield, MI 48034-1934
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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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