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    32901 Middlebelt Rd, Unit Farmington Farmington, MI 48334
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    Property profile & analytics

    32901 Middlebelt Rd, Unit Farmington, Farmington, MI 48334

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    • Office buildings
    • 8,867 SF
    • 0.77 lot acres
    For Lease
    $860,000
    View Listing →
    Office Space For Rent For Lease
    $860,000

    Office Space For Rent

    Office space available for lease in Farmington Hills, Michigan.

    32901 Middlebelt Rd, Farmington, MI 48334
    View Listing
    Property ID
    US43-0195688
    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
    $860,000
    Cap Rate Potential
    3.7%
    Office buildings
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 32901 Middlebelt Rd

    Year built
    1986
    Lot size
    0.77 lot acres
    Zone code
    KI
    Property type
    Office buildings
    APN
    22-23-02-226-037
    APU
    222302226037

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $870,000
      ML approach
      $890,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $857,000
      Market price range: $670k - $1.28M
      AI Estimate
      $560,000
      Market price range: $266k - $1.34M

    • 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

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

    Location Insight

    • Map
    • Local Demand
    City
    Farmington Hills
    County
    Oakland
    State
    Michigan
    Longitude
    -83.3413
    Latitude
    42.5275
    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
    $22,697
    $91,890
    $305,200
    $397,090
    -
    $183,780
    $610,400
    $794,180

    Comparable in this City

    • Value Estimation
      $2,860,000
      46,887 SF

      31800 Northwestern Hwy Ste, Unit 205

      OFFICE BUILDING
      31800 Northwestern Hwy Ste, Farmington Hills, MI 48334-1664
      View Details
    • Value Estimation
      $6,485,000
      124,498 SF

      32605 12th Mile Rd

      OFFICE BUILDING
      32605 12th Mile Rd, Farmington Hills, MI 48334-3337
      View Details
    • Value Estimation
      $10,255,000
      102,093 SF

      31500 Northwestern Hwy

      OFFICE BUILDING
      31500 Northwestern Hwy, Farmington Hills, MI 48334-2567
      View Details
    • Value Estimation
      $5,495,000
      97,331 SF

      30833 Northwestern Hwy

      OFFICE BUILDING
      30833 Northwestern Hwy, Farmington Hills, MI 48334-2551
      View Details
    • Value Estimation by Request
      477 SF

      31868 Northwestern Hwy, Unit 7

      OFFICE BUILDING
      31868 Northwestern Hwy, Farmington Hills, MI 48334-1628
      View Details
    • Value Estimation
      $2,045,000
      32,015 SF

      28580 Orch Lk Rd

      OFFICE BUILDING
      28580 Orch Lk Rd, Farmington Hills, MI 48334-2976
      View Details

    Similar Nearby for Sale

    • $1,250,000

      Farmington Hills Three-Unit Office Building

      Turnkey three-unit office building with immediate cash flow potential.
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      Northwestern Highway Office Building

      Office building on Northwestern Highway with upgraded finishes and parking.
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      20,200 SF

      Multi-Tenant Office/Medical Complex

      20,200 SF multi-tenant office/medical complex available for sale.
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      Upgraded Office Space Available

      Well-maintained office building with competitive rates and monument signage.
      30665 Northwestern Hwy, Farmington Hills, MI 48334
      View Details
    • Contact for pricing

      Professional Office Building For Sale

      Two-story office building with suites available in Farmington Hills, MI.
      31275 Northwestern Hwy, Farmington Hills, MI 48334
      View Details
    • Contact for pricing

      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

    • Contact for pricing

      Modern Office Building with Atrium

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

      Modern Office Building with Atrium

      Two-story office building with premium finishes and freeway access.
      27725 Stansbury St, Farmington Hills, MI 48334
      View Details
    • $25 SF/Yr
      2,200 SF

      Medical Office Space Available

      Medical office space available for lease in Farmington Hills.
      22750 Middlebelt Rd, Farmington Hills, MI 48334
      View Details
    • Contact for pricing

      Classic Farmington Hills Office Building

      Three-story office building with I-696 exposure near Grand River.
      32605 W 12 Mile Rd, Farmington Hills, MI 48334
      View Details
    • Contact for pricing

      Farmington Hills Class B Office

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

      Contemporary Office Space Available

      Two-story office building with premium finishes and freeway visibility.
      27755 Stansbury Blvd, Farmington Hills, MI 48334
      View Details
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    Farmington, 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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