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

    31731 Northwestern Hwy Farmington Hills, MI 48334

    • Office buildings
    • 81,508 SF
    • 4.92 lot acres
    For Lease
    View listing
    $18 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1687258
    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

    • Office buildings

    Property Details for 31731 Northwestern Hwy

    Year built
    1981
    Lot size
    4.92 lot acres
    Property size
    81,508 SF
    Zone code
    BI
    Property type
    Office buildings
    APN
    22-23-02-476-002
    APU
    222302476002

    Description

    This exceptional Class A medical office building, located at 31731 Northwestern Hwy in Farmington Hills, Michigan, offers a prime opportunity for medical professionals seeking flexible and high-quality space. The Carrefour Building boasts a total of 78,000 square feet, with multiple tenancy options available. Suites range from a minimum of 995 square feet to a maximum contiguous space of 17,394 square feet, providing versatility for practices of various sizes. Currently, 48,372 square feet is available for lease. The building sits on a generous 4.92-acre lot and features 220 parking spaces, ensuring ample convenience for patients and staff. Constructed in 1982, the building maintains a high standard of quality, reflecting its Class A designation. The property is zoned BI and its APN is 23-02-476-002, located in Oakland County, Michigan, zip code 48334. This prime location offers excellent visibility and accessibility, making it an ideal setting for a thriving medical practice. The building's modern amenities and convenient features create a welcoming and efficient environment for both patients and staff. Inquire today to learn more about leasing opportunities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,990,000
      6.5%
      $4,605,000
      7%
      $4,275,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,160,000
      Market price range: $6.16M - $11.7M
      AI Estimate
      $3,742,000
      Market price range: $2.44M - $12.3M

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

    Location Insight

    • Map
    • Local Demand
    City
    Farmington Hills
    County
    Oakland
    State
    Michigan
    Longitude
    -83.3412
    Latitude
    42.5186
    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
    $143,916
    $665,270
    $1,987,850
    $2,653,120
    -
    $1,330,540
    $3,975,700
    $5,306,240

    Comparable in this City

    • Value Estimation
      $4,520,000
      69,583 SF

      30445 Northwestern Hwy

      OFFICE BUILDING • 69,583 SF
      30445 Northwestern Hwy, Farmington Hills, MI 48334-3158
      View Details
    • Value Estimation by Request
      491 SF

      31860 Northwestern Hwy, Unit 5

      OFFICE BUILDING • 491 SF
      31860 Northwestern Hwy, Farmington Hills, MI 48334-1628
      View Details
    • Value Estimation
      $13,350,000
      222,440 SF

      27555 Farmington Rd

      OFFICE BUILDING • 222,440 SF
      27555 Farmington Rd, Farmington Hills, MI 48334-3376
      View Details
    • Value Estimation
      $15,145,000
      228,544 SF

      27777 Inkster Rd

      OFFICE BUILDING • 228,544 SF
      27777 Inkster Rd, Farmington Hills, MI 48334-5310
      View Details
    • Value Estimation
      $2,440,000
      39,687 SF

      28555 Orch Lk Rd

      OFFICE BUILDING • 39,687 SF
      28555 Orch Lk Rd, Farmington Hills, MI 48334-2973
      View Details
    • Value Estimation by Request
      3,821 SF

      27750 Middlebelt Rd

      OFFICE BUILDING • 3,821 SF
      27750 Middlebelt Rd, Farmington Hills, MI 48334-5005
      View Details

    Similar Nearby for Sale

    • $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
    • 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
    • $1,350,000
      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
      11,612 SF

      Well-Maintained Office Building For Sale

      One-story office building with suites available, near I-696.
      27950 Orchard Lake Rd, Farmington Hills, MI 48334
      View Details
    • Contact for pricing
      61,244 SF

      Northwestern Highway Office Building

      Office building on Northwestern Highway with upgraded finishes and parking.
      32300 Northwestern Hwy, Farmington Hills, MI 48334
      View Details
    • Contact for pricing
      15,488 SF

      Renovated Office Building For Sale

      Fully renovated office building with move-in ready suites available.
      27655 Middlebelt Rd, Farmington Hills, MI 48334
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      284,000 SF

      Farmington Hills Class A Office

      Class A office complex with up to 188,000 SF available.
      27777 Inkster Rd, Farmington Hills, MI 48334
      View Details
    • Contact for pricing
      46,750 SF

      Modern Office Space Available

      Contemporary office building with ample parking and freeway access.
      30300 Northwestern Hwy, Farmington Hills, MI 48334
      View Details
    • $17 SF/Yr
      1,318 SF

      Northwestern Highway Office Suites

      Office suites available in a professionally managed building.
      31275 Northwestern Hwy, Farmington Hills, MI 48334
      View Details
    • Contact for pricing
      46,468 SF

      Farmington Hills Class B Office

      Class B office building in Farmington Hills for lease.
      31500 13 Mile Rd, Farmington Hills, MI 48334
      View Details
    • Contact for pricing

      Modern Office Building with Atrium

      Contemporary office space with freeway visibility and convenient access.
      27755 Stansbury St, Farmington, MI 48334
      View Details
    • Contact for pricing

      Modern Office Building with Atrium

      Two-story office building with premium finishes and freeway access.
      27725 Stansbury St, Farmington, MI 48334
      View Details
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    Farmington Hills, MI 48334
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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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