Property profile

31500 13 Mile Rd Farmington Hills, MI 48334

FOR SALE
Office buildings
Property ID
US43-1110307
45,838 SF 4.11 ac lot Built 1929
Entity Owned 3-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 46,468 square foot executive office building, located at 31500 13 Mile Road in Farmington Hills, Michigan (zip code 48334), presents a rare opportunity for owner-users or value-add investors. The property boasts a multi-tenant configuration, offering suites ranging in size from 315 square feet to 12,191 square feet, providing flexibility for various business needs. Its prime location in Oakland County offers convenient access to major freeways, ensuring easy commutes for employees and clients. The building features ample parking, smooth ingress and egress, and the potential for prominent monument signage on 13 Mile Road, enhancing visibility and brand recognition. Recent improvements significantly enhance the property's value and appeal, including a resurfaced parking lot, updated building exterior, a new roof on half of the building, upgraded mechanical systems, and fresh landscaping. The property's strong cash flow and significant upside potential make it an attractive investment prospect. This is a truly unique opportunity to acquire a well-maintained, strategically located office building in a thriving Michigan market. The building's excellent condition and recent upgrades minimize immediate capital expenditure needs, allowing for a smooth transition and immediate occupancy or lease-up. This is a turnkey solution for businesses seeking a high-quality office space or investors looking for a strong return on investment.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1929
Total area 45,838 SF
Lot 4.11 ac (179,249 SF)
Zoning code BI
APN 22-23-03-476-042
UPID US43-1110307

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Oil & Natural Gas Company
  • Factory Industrial Manufacturer
  • (Bike/Boat/Book/etc) Store Corporate Office
  • Accounting Firm
  • Home Health Care Service

Location

31500 13 Mile Rd Farmington Hills, MI 48334
Farmington Hills metro Census 166100 DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$2.21M
CAP Approach CAP
$2.59M
Comparable Approach Comparable
$1.37M
Blend (final) Blend
$1.90M

Owner & transaction history

since 2023
Last sale
$2.0M
7 recorded transactions
2023
Price N/A
2020
Price N/A
2018
Price N/A
2015
Price N/A
1969
Price N/A
1969
Price N/A
1969
Price N/A

Zoning & alternative use

BI · Farmington Hills, MI

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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More about this property
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