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Property profile & analytics
FOR SALE
Office buildings

29229 Northwestern Hwy Southfield, MI 48034

7,632 SF 1.01 ac lot Built 1962
Entity Owned 2-yr Hold Free & Clear
Property ID
US43-0061540
Property summary
AI-generated overview

This exceptional 1.01-acre commercial property in Southfield, MI, presents a lucrative investment opportunity. Boasting 7,632 square feet of space across three buildings, this B-3 zoned property offers diverse usage potential, including retail, medical offices, banks, restaurants, and even a medical marijuana provision center (subject to special approval). The property enjoys high visibility and convenient access from Northwestern Highway, near 12 Mile Road. One building is currently leased, generating a consistent monthly income of $2,700. Building A, a two-story structure, features a reception area, administrative space, multiple offices, a conference room, storage, and a finished basement. Building B is also two stories, with offices and storage. Building C, a single-story building, is currently occupied by a tenant. Ample parking is available for customers. Located in a thriving business district, home to numerous Fortune 500 companies, this property offers significant upside potential for investors seeking a strong return in a prime Southfield location. The property's versatile zoning and existing income stream make it an attractive proposition for both immediate returns and long-term growth. Southfield's robust business environment and supportive community further enhance the investment appeal.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1962
Total area 7,632 SF
Lot 1.01 ac (44,083 SF)
Zoning code P
APN 76-24-07-351-018
UPID US43-0061540
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • George W Smith & Co PC Accounting Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$545k
CAP Approach CAP
$430k
Comparable Approach Comparable
$320k
Blend (final) Blend
$530k
Owner & transaction history
Mivan Holding Group LLC · 2 yrs held
Mivan Holding Group LLC
since 2023
Last sale
$535,000
3 recorded transactions
2023
$535,000
2019
Price N/A
2007
$4,408
Zoning & alternative use
P · Southfield, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center $710,000 +17.6%
Industrial (general) $620,000 +2.3%
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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