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    Property profile & analytics
    OFF-MARKET Estimated value $935,000
    Medical Office Space

    33466 8th Mile Rd, Farmington, MI 48335-5208

    7,807 SF 0.91 ac lot Built 1995
    Entity Owned 4-yr Hold Absentee Owner ~ Est. High Equity
    Property ID
    US43-1047368
    Property summary
    AI-generated overview

    This exceptional 7,807 square foot industrial building is situated on a 0.91-acre lot at 33466 W 8 MILE in Farmington, Michigan. The property boasts a prime location on a busy street, offering excellent visibility and accessibility. The substantial brick structure is exceptionally well-maintained and presents a significant investment opportunity. Currently configured as a single unit, the building's layout allows for flexible adaptation, easily divisible into 3-4 separate units, making it perfect for multiple medical practices or a variety of office uses. A key feature is the inclusion of a dedicated x-ray room complete with lead shielding, catering to medical tenants. Ample parking is available in the large on-site lot. The property's proximity to downtown Farmington further enhances its appeal. The asking price for this turnkey property is $1,199,000. Lease options are also available. This is a rare opportunity to acquire a well-located, versatile industrial building with significant potential for growth and return on investment. The building's size, features, and location make it an attractive prospect for a wide range of businesses.

    Property profile
    Verified
    Property type Medical Office Space
    Use group MEDICAL BUILDING
    Year built 1995
    Total area 7,807 SF
    Lot 0.91 ac (39,770 SF)
    Zoning code BI
    APN 22-23-33-477-023
    UPID US43-1047368
    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
    $940k
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $1.03M
    Blend (final) Blend
    $935k
    Owner & transaction history
    Medrealty LLC · 4 yrs held
    Medrealty LLC
    since 2022
    Last sale
    $887,500
    4 recorded transactions
    2022
    2022
    2022
    $887,500
    1969
    Zoning & alternative use
    BI · Farmington, MI
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Commercial (general) $1.4M +11.6%
    Restaurant $1.4M +9.7%
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