Entity Owned
No photos on file
For Sale
$520,000
33515 State St, Farmington, MI 48335
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Property summary
AI-generated overview
This exceptional 2,000 square foot executive office building presents a rare owner-user opportunity in desirable Farmington, Michigan. Located at 33515 State St, this two-story property, built in 1920, sits on a 0.28-acre lot (APN 23-28-280-002) and is zoned OS - Office Service. The asking price is $520,000, translating to $260 per square foot. The building offers convenient on-site parking and is within easy walking distance of Downtown Farmington's vibrant array of dining, entertainment, and retail establishments. Additional municipal parking is also readily available nearby. City water and sewer services are connected to the property. This presents a unique chance to acquire a well-situated, established office space in a thriving community. The building's classic architecture and prime location combine to offer a compelling investment for an owner-occupier seeking a blend of convenience and prestige. This is a truly exceptional opportunity to establish a business presence in a highly sought-after area. Don't miss this chance to own a piece of Farmington's commercial landscape.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1920
Total area
3,048 SF
Lot
0.28 ac (12,197 SF)
Zoning code
OS
APN
20-23-28-280-002
UPID
US43-0262842
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Advertising Agency Marketing & Advertising
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$325k
Owner & transaction history
since 2025
Last sale
$475,000
2 recorded transactions
Zoning & alternative use
OS · Farmington, MI
General category
UNKNOWN
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 5 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$325k
Value range
$293k – $358k
±10% around blend
Estimated value / SF
$107 / SF
Confidence
High
5 county-verified comps
Property data
100
Market benchmarks
67
Comparable evidence
50
Income certainty
100
$293k
blend $325k
$358k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
3,048 SF
Lot area
0.28 ac
Year built
1920
Stories
1
APN
20-23-28-280-002
Zoning
OS
Assessed value
$187,690
Annual tax
$8,389
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$8,389
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$421k
Weighted, 5 comps · high confidence
Evidence
5 found · 5 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
7.5 mi away · 2,933 SF
8.7 mi away · 3,636 SF
9.3 mi away · 2,421 SF
9.7 mi away · 3,303 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$325k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 65 sales
$120
-11%
County 427 sales
$117
-9%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $107/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 5 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$98k
Move the market yield to see immediate price impact.
Value / SF
$32
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$6k
$124k
$89k
$69k
$7k
$138k
$98k
$77k
$8k
$151k
$108k
$84k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
5 found
High confidence · county-verified
Closest comparable
$734k
4.9 mi · Oct 2025 · $247/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$8,389
Tax year 2023
Assessed value
$187,690
Assessed 2024
Previous assessed
$181,370
+3.5% YoY
Effective rate
4.47%
On assessed value
Total market value
$375,380
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1920
Heating
ZONE
Cooling
YES
Buildings
2
Stories
1
Units
1
Total area
3,048 SF
Lot
0.28 ac (12,197 SF)
Zoning code
OS
APN
20-23-28-280-002
UPID
US43-0262842
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
OS · Farmington, MIZoning OS · permitted uses
OS · Farmington, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
General category
UNKNOWN
Building & site characteristics
From public records
Year built
1920
Heating
ZONE
Cooling
Yes
Stories
1
Buildings
2
Units
1
Lot
0.28 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
OS
UNKNOWN
Jurisdiction
Farmington, MI
Recorded code
OS
Official district
OS
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for OS in Farmington, MI.
What opens after registration
Zoning profile
District factsZone name, category and district area
Official documentVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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