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Property profile & analytics
FOR LEASE
Office buildings
32901 Middlebelt Rd Farmington Farmington, MI 48334
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-0195688
For Lease
1 / 23
$860,000
32901 Middlebelt Rd,Unit Farmington, Farmington, MI 48334
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1986
Total area
8,867 SF
Lot
0.77 ac (33,411 SF)
Zoning code
KI
APN
22-23-02-226-037
UPID
US43-0195688
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$890k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$858k
Blend (final)
Blend
$860k
Owner & transaction history
Ns Management Group LLC · 3 yrs held
Ns Management Group LLC
since 2022
Last sale
$837,500
7 recorded transactions
Zoning & alternative use
KI · Farmington Hills, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.4M
+35.1%
Auto repair, garage
$1.1M
+4.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Farmington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Farmington submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$870,000
ML approach
$890,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,035,000
Current use
MEDICAL BUILDING
$1,400,000
Change: +35% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,085,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$860k
Range $774k – $946k · ±10% · vs last sale $838k (Oct 10 2022)
Last sale anchor
$838k
Oct 10 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$97 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$22,697
Tax year 2023
Assessed value
$397,090
Assessed 2024
Previous assessed
$374,690
+6.0% YoY
Effective rate
5.72%
On assessed value
Assessed land
$91,890
Assessed improvement
$305,200
Land market value
$183,780
Improvement market value
$610,400
Total market value
$794,180
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1986
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Total area
8,867 SF
Lot
0.77 ac (33,411 SF)
Zoning code
KI
APN
22-23-02-226-037
UPID
US43-0195688
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
KI · Farmington Hills, MI
Zoning KI · permitted uses
KI · Farmington Hills, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Farmington Hills. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.1M
OFFICE BUILDING Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1986
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
0.77 ac
Current owner
From public records · entity-resolved
Ns Management Group LLC
Entity
Mailing address
2954 INTERLAKEN ST, WEST BLOOMFIELD, MI 48323-1817
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 11, 2025
—
Ns Management Group LLC
—
Deed
related
$360,000 · Genisys Cu
Oct 10, 2022
$837,500
Ns Management Group LLC
Kkr LLC
Warranty Deed
$670,000 · Genisys Cu
Oct 6, 2022
—
Kkr LLC
J Raftery
Quit Claim Deed
related
—
Oct 18, 2016
—
Raftery,james J Trust
Raftery,james J
Quit Claim Deed
related
—
Sep 29, 2003
—
Kkr LLC
M D Placement LLC
Grant Deed
$1,100,000 · Standard Federal Bank
Jun 6, 2000
$706,000
M D Placement Ltd
Canadian M D Placement Ltd
Grant Deed
related
—
—
—
Kkr LLC
—
Deed Of Trust
related
$630,000 · Bank Of Ann Arbor
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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