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

    32500 Northwestern Hwy Farmington Hills, MI 48334

    • Strip malls
    • 17,692 SF
    • 1.86 lot acres
    For Lease
    View listing
    $15 SF/Yr
    Value Estimations
    $740,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1375041
    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

    • Strip malls

    Property Details for 32500 Northwestern Hwy

    Year built
    1958
    Lot size
    1.86 lot acres
    Property size
    17,692 SF
    Zone code
    BI
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    22-23-02-126-127
    APU
    222302126127

    Description

    This exceptional retail opportunity is located at 32500 Northwestern Hwy, Farmington Hills, MI 48334. The Courtyard Shopping Center offers a total of 10,000 square feet of space, with multiple tenancies available. Currently, there are 5,471 square feet of vacant space available for lease, divisible into units as small as 2,281 square feet and offering contiguous space up to a maximum of 3,190 square feet. The property is ideally suited for a variety of retail or office uses. High visibility is ensured by signage opportunities facing the heavily trafficked Northwestern Highway. The center boasts ample parking for customers and employees, providing convenient access for all. This prime location in Farmington Hills offers excellent exposure and accessibility, making it an attractive option for businesses seeking a thriving retail environment. The flexible space options allow for customization to meet individual tenant needs. Don't miss this chance to secure your space in this well-situated shopping center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $490,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $451,000
      Market price range: $357k - $794k

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

    Location Insight

    • Map
    • Local Demand
    City
    Farmington Hills
    County
    Oakland
    State
    Michigan
    Longitude
    -83.3512
    Latitude
    42.5261
    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
    $32,285
    $283,170
    $381,760
    $664,930
    -
    $566,340
    $763,520
    $1,329,860

    Comparable in this City

    • Value Estimation
      $850,000
      15,200 SF

      29304 Orch Lk Rd

      SHOPPING CENTER, STRIP CENTER • 15,200 SF
      29304 Orch Lk Rd, Farmington, MI 48334
      View Details
    • Value Estimation
      $1,240,000
      12,024 SF

      29413 12th Mile Rd

      SHOPPING CENTER, STRIP CENTER • 12,024 SF
      29413 12th Mile Rd, Farmington Hills, MI 48334-4113
      View Details
    • Value Estimation
      $1,155,000
      11,150 SF

      30693 12th Mile Rd

      SHOPPING CENTER, STRIP CENTER • 11,150 SF
      30693 12th Mile Rd, Farmington Hills, MI 48334-3812
      View Details
    • Value Estimation
      $2,495,000
      63,858 SF

      27614 Middlebelt Rd

      SHOPPING CENTER, STRIP CENTER • 63,858 SF
      27614 Middlebelt Rd, Farmington, MI 48334
      View Details
    • Value Estimation
      $5,775,000
      62,914 SF

      27839 Orch Lk Rd

      SHOPPING CENTER, STRIP CENTER • 62,914 SF
      27839 Orch Lk Rd, Farmington, MI 48334
      View Details
    • Value Estimation
      $1,410,000
      13,254 SF

      32395 Northwestern Hwy

      SHOPPING CENTER, STRIP CENTER • 13,254 SF
      32395 Northwestern Hwy, Farmington Hills, MI 48334-1535
      View Details

    Similar Nearby for Sale

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      Farmington Hills Restaurant - $975K

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    Similar Nearby for Lease

    • Contact for pricing
      3,400 SF

      Retail Space in Orchard 12 Plaza

      Retail space available in a busy Farmington Hills plaza.
      27853-27909 Orchard Lake Rd, Farmington Hills, MI 48334
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    • $20 SF/Yr
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      Kendallwood Shopping Center: Farmington Hills

      Retail space available, prime location.
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      View Details
    • $15 SF/Yr
      10,000 SF

      Courtyard Shopping Center - Farmington Hills

      Retail Space Available, Farmington Hills, MI
      32500 Northwestern Hwy, Farmington Hills, MI 48334
      View Details
    • $12 SF/Yr
      20,095 SF

      Bella Vino Plaza: Farmington Hills

      Prime Retail/Restaurant Space Available
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    • $5,500 /Mo

      Restaurant Space in Amira Plaza

      Second generation restaurant space in high-traffic Farmington Hills location.
      29402 Orchard Lake Rd, Farmington Hills, MI 48334
      View Details
    • $25 SF/Yr
      2,173 SF

      Freestanding Restaurant Property For Lease

      Former restaurant with high visibility and traffic exposure available for lease.
      27701 Orchard Lake Rd, Farmington Hills, 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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