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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    29330 12th Mile Rd Farmington Hills, MI 48334-4110

    • Medical offices
    • 3,362 SF
    • 0.62 lot acres
    OFF-MARKET
    Last Sale
    Aug 25, 2023
    $950,000
    Value Estimations
    $915,000
    Show details
    Cap Rate Potential
    4.2%
    Medical offices
    Location Intelligence
    Property ID
    US43-0219962
    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

    • Medical offices

    Property Details for 29330 12th Mile Rd

    Year built
    2004
    Lot size
    0.62 lot acres
    Property size
    3,362 SF
    Zone code
    BI
    Property type
    Medical offices
    Property subtype
    Medical space
    APN
    22-23-12-351-012
    APU
    222312351012

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,090,000
      ML approach
      $1,020,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $760,000
      6.5%
      $700,000
      7%
      $650,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $767,000
      Market price range: $334k - $768k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $785,000
      COMMERCIAL (GENERAL)
      $590,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Farmington Hills
    County
    Oakland
    State
    Michigan
    Longitude
    -83.3381
    Latitude
    42.5003
    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
    $15,053
    $89,010
    $314,430
    $403,440
    -
    $178,020
    $628,860
    $806,880

    Comparable in this City

    • Value Estimation
      $3,995,000
      32,854 SF

      28595 Orch Lk Rd

      MEDICAL BUILDING • 32,854 SF
      28595 Orch Lk Rd, Farmington Hills, MI 48334-2977
      View Details
    • Value Estimation
      $2,095,000
      21,167 SF

      32910 13th Mile Rd

      MEDICAL BUILDING • 21,167 SF
      32910 13th Mile Rd, Farmington Hills, MI 48334-1980
      View Details
    • Value Estimation
      $3,320,000
      30,691 SF

      28800 Orch Lk Rd

      MEDICAL BUILDING • 30,691 SF
      28800 Orch Lk Rd, Farmington Hills, MI 48334-2981
      View Details
    • Value Estimation
      $1,160,000
      8,988 SF

      27555 Middlebelt Rd

      MEDICAL BUILDING • 8,988 SF
      27555 Middlebelt Rd, Farmington Hills, MI 48334-5011
      View Details
    • Value Estimation
      $725,000
      5,858 SF

      30000 Orch Lk Rd

      MEDICAL BUILDING • 5,858 SF
      30000 Orch Lk Rd, Farmington Hills, MI 48334-2268
      View Details
    • Value Estimation
      $2,745,000
      21,106 SF

      28500 Orch Lk Rd

      MEDICAL BUILDING • 21,106 SF
      28500 Orch Lk Rd, Farmington Hills, MI 48334-2936
      View Details

    Similar Nearby for Sale

    • $324,999
      2,655 SF

      Farmington Hills Medical Office Condo

      Prime Medical Office, 2655 SF, $324,999
      30640 12 Mile Rd, Farmington Hills, MI 48334
      View Details
    • $1,350,000
      7,000 SF

      Turnkey Farmington Hills Office Building

      Three-unit office building with renovated medical space and income potential.
      30000 Orchard Lake Rd, Farmington Hills, MI 48334
      View Details
    • Contact for pricing
      20,200 SF

      Farmington Hills Medical Office Complex

      20,200 SF Multi-Tenant Medical Building, 100% Occupied
      32910 13 Mile Rd, Farmington Hills, MI 48334
      View Details
    • $324,999
      2,655 SF

      Office/Medical Condo For Sale

      2,655 SF office/medical condo in desirable Farmington Hills location.
      30640 W 12 Mile Rd, Farmington Hills, MI 48334
      View Details
    • Contact for pricing
      20,200 SF

      Multi-Tenant Office/Medical Complex For Sale

      20,200 SF office/medical complex with 100% occupancy.
      32910 W 13 Mile Rd, Farmington Hills, MI 48334
      View Details
    • $1,596,186
      9,018 SF

      Farmington Hills Office Building For Sale

      Single-story office building with high visibility and direct suite entry.
      30180 Orchard Lake Rd, Farmington Hills, MI 48334
      View Details

    Similar Nearby for Lease

    • New
      $5,900 /Mo
      7,000 SF

      Turnkey Urgent Care Office Building

      Newly renovated medical space with income-generating units in Farmington Hills.
      30000 Orchard Lake Rd, Farmington Hills, MI 48334
      View Details
    • $16 SF/Yr
      10,496 SF

      Parkhill Medical Office Suites

      Modern Medical Office Space Available
      31700 12 Mile Rd, Farmington Hills, MI 48334
      View Details
    • $20 SF/Yr
      5,858 SF

      Farmington Hills Medical Office Space

      Prime Medical Office: 2,500 SF Available
      30000 Orchard Lake Rd, Farmington Hills, MI 48334
      View Details
    • $17 SF/Yr
      45,000 SF

      Forest Park Medical Office Space

      Farmington Hills medical office suites available
      31300-31410 Northwestern Hwy, Farmington Hills, MI 48334
      View Details
    • $12 SF/Yr
      264,022 SF

      Prime Farmington Hills Medical Office Space

      Spacious medical suites, flexible layouts, ample parking.
      27555 Farmington Rd, Farmington Hills, MI 48334
      View Details
    • $18 SF/Yr
      78,000 SF

      Farmington Hills Medical Office Space

      Class A medical office suites available. Excellent location, ample parking.
      31731 Northwestern Hwy, Farmington Hills, MI 48334
      View Details
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    Farmington Hills, MI 48334-4110
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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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