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

    35055 12th Mile Rd Farmington Hills, MI 48331-3208

    • Office buildings
    • 70,802 SF
    • 3.85 lot acres
    OFF-MARKET
    Last Sale
    Apr 02, 2021
    $6,852,700
    Value Estimations
    $6,745,000
    Show details
    Cap Rate Potential
    3.9%
    Office buildings
    Location Intelligence
    Property ID
    US43-1550928
    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

    • Office buildings

    Property Details for 35055 12th Mile Rd

    Year built
    1984
    Lot size
    3.85 lot acres
    Property size
    70,802 SF
    Zone code
    BI
    Property type
    Office buildings
    APN
    22-23-16-101-006
    APU
    222316101006

    Description

    Drake Pointe Office Building, located at 35055 W Twelve Mile Road in Farmington Hills, Michigan, presents a prime opportunity for businesses seeking executive office space. This Class B building, totaling 70,000 square feet, offers 15,011 square feet of immediately available space within a multi-tenant environment. Constructed in 1985 and renovated in 1996, the building is situated on a generous 3.85-acre lot. The property's location within the Farmington Hills submarket of Oakland County provides excellent access to major transportation routes and amenities. The available space is ideal for a variety of businesses seeking a well-maintained and established office environment. The building's executive office subtype caters to businesses requiring a professional and sophisticated setting. This is a rare opportunity to secure significant space in a desirable location. The property's size and location make it suitable for a range of business needs, from small to medium-sized enterprises. Interested parties are encouraged to inquire about lease terms and availability. The zip code for this property is 48331. This listing presents a chance to establish a presence in a thriving business community. The building's history and recent renovations ensure a functional and updated workspace. The ample lot size provides ample parking and potential for future expansion.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,700,000
      ML approach
      $6,975,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,334,000
      Market price range: $5.05M - $11.8M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $8,305,000
      Current use
      MEDICAL BUILDING
      $11,175,000
      Change: +35% Conversion: Easy
      AUTO REPAIR, GARAGE
      $8,680,000
      Change: +5% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Farmington Hills
    County
    Oakland
    State
    Michigan
    Longitude
    -83.3966
    Latitude
    42.4974
    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
    $164,675
    $526,370
    $2,982,710
    $3,509,080
    -
    $1,052,740
    $5,965,420
    $7,018,160

    Comparable in this City

    • Value Estimation
      $4,400,000
      83,839 SF

      34115 12th Mile Rd, Unit 1

      OFFICE BUILDING • 83,839 SF
      34115 12th Mile Rd, Farmington Hills, MI 48331-3368
      View Details
    • Value Estimation by Request
      2,275 SF

      33505 14th Mile Rd, Unit 1

      OFFICE BUILDING • 2,275 SF
      33505 14th Mile Rd, Farmington Hills, MI 48331-1588
      View Details
    • Value Estimation by Request
      4,454 SF

      33493 14th Mile Rd, Unit 10

      OFFICE BUILDING • 4,454 SF
      33493 14th Mile Rd, Farmington Hills, MI 48331-1587
      View Details
    • Value Estimation
      $725,000
      12,914 SF

      37400 Hls Tech Dr

      OFFICE BUILDING • 12,914 SF
      37400 Hls Tech Dr, Farmington Hills, MI 48331-3414
      View Details
    • Value Estimation by Request
      3,510 SF

      33450 12th Mile Rd

      OFFICE BUILDING • 3,510 SF
      33450 12th Mile Rd, Farmington Hills, MI 48331-3350
      View Details
    • Value Estimation
      $7,170,000
      143,992 SF

      34505 12th Mile Rd

      OFFICE BUILDING • 143,992 SF
      34505 12th Mile Rd, Farmington Hills, MI 48331-3258
      View Details

    Similar Nearby for Sale

    • $17,950,000
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      Prime Farmington Hills Office Building

      125,195 SF Executive Office for Sale
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      View Details
    • $1,300,000
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      Prime Farmington Hills Medical Office Condo

      11,090 SF Medical Office Condo - $1.3M
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    • Contact for pricing
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      Farmington Hills Industrial R&D Facility

      Industrial R&D facility in automotive technology hub, Farmington Hills.
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    • $349,900
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      Farmington Hills Condo Near Golf

      Three-bedroom condo with finished basement and golf course proximity.
      38360 Churchill Ln, Farmington Hills, MI 48331
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    • $259,900
      4.16 Acres

      Residential Land in Farmington Hills

      4.16 acres of wooded land in Farmington Hills, MI.
      36300 Howard Rd, Farmington Hills, MI 48331
      View Details
    • $150,000
      0.79 Acres

      Residential Land in Farmington Hills

      Vacant land perfect for building a dream home.
      00000 13 Mile Rd, Farmington Hills, MI 48331
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      125,195 SF

      First-Class Office Building For Lease

      Prestigious office building with cafe, conference center, and fitness center.
      36500 Corporate Dr, Farmington Hills, MI 48331
      View Details
    • $16 SF/Yr
      35,365 SF

      Professionally Managed Office Space Available

      Two-story office building with flexible space and convenient location.
      38275 W 12 Mile Rd, Farmington Hills, MI 48331
      View Details
    • $22 SF/Yr
      182,280 SF

      Farmington Hills Executive Office Space

      Class A Office Suites, 1,552-12,182 SF
      27555 Executive Dr, Farmington Hills, MI 48331-3554
      View Details
    • $14 SF/Yr
      47,903 SF

      Haggerty Pointe Executive Suites

      Farmington Hills Office Space Available
      39300 12 Mile Rd, Farmington Hills, MI 48331
      View Details
    • $12 SF/Yr
      46,047 SF

      Farmington Hills Executive Office Suites

      Prime Office Space, Flexible Layouts Available
      39303 Country Club Dr, Farmington Hills, MI 48331
      View Details
    • $19 SF/Yr
      13,101 SF

      Farmington Hills Medical Office Space

      Prime Medical Office Suites Available Now
      24555 Hallwood Ct, Farmington Hills, MI 48331
      View Details
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    35055 12th Mile Rd
    Farmington Hills, MI 48331-3208
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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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