31519 W 12 Mile Rd Farmington Hills, MI 48334
Property profile & analytics
31519 W 12 Mile Rd Farmington Hills, MI 48334
- Turn key restaurants
- 4,054 SF
- 0.57 lot acres
Property ID
US43-0264329
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.
Location Intelligence
Current Use by Public Records
- Turn key restaurants
Property Details for 31519 W 12 Mile Rd
- Year built
- 1995
- Lot size
- 0.57 lot acres
- Property size
- 4,054 SF
- Zone code
- BI
- Property type
- Turn key restaurants
- APN
- 22-23-15-201-271
- APU
- 222315201271
Description
This exceptional investment opportunity presents a beautifully renovated, freestanding Class A restaurant building in Farmington Hills, Michigan. Located at 31519 W 12 Mile Rd, this 8,108 square foot, two-story property sits on a 24,742 square foot lot and boasts prominent monument signage on a high-traffic road, just west of Orchard Lake Road and across from a Starbucks. The building, originally constructed in 1995 and completely renovated in 2022, features an elevator and an outdoor patio. Currently occupied by a high-end Chinese restaurant operating at 100% occupancy, the property is offered as a net lease investment with a sale price of $3,500,000 ($431.67 per square foot). The single-tenant building is zoned for commercial use and benefits from excellent freeway access and proximity to numerous amenities, including other restaurants and banks. The current tenant is seeking a new long-term lease with the new owner, providing a stable income stream for the investor. The property's APN is 2315201271. This is a turnkey opportunity to acquire a high-quality, well-located restaurant property in a thriving market. The property's previous name was Tribute Restaurant.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,155,000
- ML approach
- $1,050,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $861,000
Market price range: $403k - $963k -
Alternative Use
- Use
- Estimation
- RESTAURANT
- $700,000 Current use
- RETAIL STORES
- $945,000 Change: +35% Conversion: Easy
- COMMERCIAL (GENERAL)
- $715,000 Change: +2% Conversion: Easy
- MEDICAL BUILDING
- $640,000 Change: -9% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Farmington Hills
- County
- Oakland
- State
- Michigan
- Longitude
- -83.3597
- Latitude
- 42.4988
- 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
$27,996
$86,630
$414,350
$500,980
-
$173,260
$828,700
$1,001,960
