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    3232 Orchard Lake Rd West Bloomfield Township, MI 48324
    Property profile & analytics

    3232 Orchard Lake Rd West Bloomfield Township, MI 48324

    View on Map
    • Super regional malls
    • 52,454 SF
    • 7.12 lot acres
    For Lease
    $2,565,000
    View Listing →
    Retail Space For Lease For Lease
    $2,565,000

    Retail Space For Lease

    Retail space available for lease in West Bloomfield Township.

    3232 Orchard Lake Rd, West, Bloomfield Township, MI 48324
    View Listing
    Property ID
    US43-4937535
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Super regional malls

    Property Details for 3232 Orchard Lake Rd West

    Year built
    1963
    Lot size
    7.12 lot acres
    Property size
    52,454 SF
    Zone code
    ZONE 6
    Property type
    Super regional malls
    Property subtype
    Shopping centers
    APN
    56-18-02-451-017
    APU
    561802451017

    Description

    This exceptional retail opportunity is located at 3232 Orchard Lake Road in the vibrant Orchard Lake Village, West Bloomfield Township, Oakland County, Michigan, 48324. The property, known as Orchard Lake Commons, offers a total of 51,012 square feet of retail space within a multi-tenant building. Currently, there are two suites available, providing flexible space options for prospective tenants. The minimum divisible space is 1,335 square feet, while the maximum contiguous space available is 2,500 square feet. A total of 3,835 square feet is currently vacant and ready for immediate occupancy. This prime location offers excellent visibility and accessibility, making it an ideal space for a variety of retail businesses. The property is situated in Oakland County, a thriving area with a strong local economy and high consumer traffic. This presents a unique chance to establish or expand your retail presence in a desirable and high-traffic location. The property's address is easily accessible and benefits from ample parking. Serious inquiries are encouraged to explore this exceptional retail leasing opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,434,000
      Market price range: $2.93M - $7.28M
      AI Estimate
      $1,690,000
      Market price range: $1.23M - $3.72M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $4,245,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Orchard Lake
    County
    Oakland
    State
    Michigan
    Longitude
    -83.3499
    Latitude
    42.603
    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
    $59,013
    $0.00
    $0.00
    $1,636,210
    -
    $0.00
    $0.00
    $3,272,420

    Comparable in this City

    • Value Estimation by Request
      1,200 SF

      6555 Commerce Rd

      SHOPPING CENTER, STRIP CENTER • 1,200 SF
      6555 Commerce Rd, West Bloomfield, MI 48324-2715
      View Details
    • Value Estimation
      $805,000
      7,680 SF

      7275 Cooley Lk Rd

      SHOPPING CENTER, STRIP CENTER • 7,680 SF
      7275 Cooley Lk Rd, West Bloomfield, MI 48324-3825
      View Details
    • Value Estimation
      $685,000
      8,508 SF

      2065 Hiller Rd

      SHOPPING CENTER, STRIP CENTER • 8,508 SF
      2065 Hiller Rd, West Bloomfield, MI 48324-1136
      View Details
    • Value Estimation by Request
      4,992 SF

      6585 Commerce Rd

      SHOPPING CENTER, STRIP CENTER • 4,992 SF
      6585 Commerce Rd, West Bloomfield, MI 48324-2715
      View Details
    • Value Estimation
      $535,000
      4,827 SF

      7875 Cooley Lk Rd

      FINANCIAL BUILDING • 4,827 SF
      7875 Cooley Lk Rd, West Bloomfield, MI 48324-3505
      View Details
    • Value Estimation by Request
      4,408 SF

      7215 Cooley Lk Rd

      AUTO REPAIR, GARAGE • 4,408 SF
      7215 Cooley Lk Rd, West Bloomfield, MI 48324-3813
      View Details

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    Similar Nearby for Lease

    • Contact for pricing

      West Bloomfield Commercial Space Available

      Commercial property available for rent in West Bloomfield, Michigan.
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      Retail Space For Lease

      Retail space available for lease in West Bloomfield Township.
      3232 Orchard Lake Rd West, Bloomfield Township, MI 48324
      View Details
    • $16 SF/Yr
      1,058 SF

      Freestanding Building with Retail Space

      8,500 SF building with retail and office space available.
      2065 Hiller Rd, West Bloomfield, MI 48324
      View Details
    • $32 SF/Yr
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      West Bloomfield Retail Space Available

      Freestanding retail space in West Bloomfield, ideal for personal services.
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      View Details
    View Listing
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    Bloomfield Township, MI 48324
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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.

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