Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    37483 Interchange Dr Farmington Hills, MI 48335

    • Manufacturing properties
    • 21,830 SF
    • 1.11 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0217023
    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

    • Manufacturing properties

    Property Details for 37483 Interchange Dr

    Year built
    1981
    Lot size
    1.11 lot acres
    Property size
    21,830 SF
    Zone code
    II
    Property type
    Manufacturing properties
    APN
    22-23-19-252-018
    APU
    222319252018

    Description

    This exceptional 16,284-square-foot industrial property, located at 37483 Interchange Drive in Farmington Hills, Michigan, presents a unique investment or leasing opportunity. The building, constructed in 1981, features a flexible design encompassing warehouse and flex space, ideal for a variety of businesses. The single, two-story building sits on a 1.04-acre lot and boasts a generous 21-foot ceiling height, providing ample storage and operational space. Two loading docks ensure efficient loading and unloading, complemented by 64 total parking spaces for employees and visitors. The property is zoned IRO and enjoys excellent freeway access via I-696, I-96, I-275, and M-5, easily accessible through Halsted Road/Grand River Avenue and 12 Mile Road/M-5 interchanges. Signage opportunities are available on Halsted Road. The current configuration includes approximately two-thirds office space, which is adaptable to tenant needs. Floor plans are available upon request. The lease rate will be determined based on market conditions, tenant improvements, lease term, and creditworthiness. The sale price is also to be determined. The entire 16,284 square feet is currently vacant. This property offers significant potential for businesses seeking a strategic location with excellent accessibility and adaptable space. The zip code is 48335.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,254,000
      Market price range: $1.25M - $2.37M

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

    Location Insight

    • Map
    • Local Demand
    City
    Farmington Hills
    County
    Oakland
    State
    Michigan
    Longitude
    -83.4174
    Latitude
    42.4762
    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
    $7,539
    $72,720
    $415,410
    $488,130
    -
    $145,440
    $830,820
    $976,260

    Comparable in this City

    • Value Estimation
      $6,120,000
      156,380 SF

      24730 Crestview Ct

      MANUFACTURING (LIGHT) • 156,380 SF
      24730 Crestview Ct, Farmington Hills, MI 48335-1506
      View Details
    • Value Estimation
      $6,340,000
      142,798 SF

      23400 Haggerty Rd

      MANUFACTURING (LIGHT) • 142,798 SF
      23400 Haggerty Rd, Farmington Hills, MI 48335-2613
      View Details
    • Value Estimation
      $2,040,000
      41,345 SF

      23409 Industrial Park Ct

      MANUFACTURING (LIGHT) • 41,345 SF
      23409 Industrial Park Ct, Farmington Hills, MI 48335-2849
      View Details
    • Value Estimation
      $595,000
      11,797 SF

      24775 Hathaway St

      MANUFACTURING (LIGHT) • 11,797 SF
      24775 Hathaway St, Farmington Hills, MI 48335-1551
      View Details
    • Value Estimation
      $990,000
      20,093 SF

      24115 Industrial Park Dr

      MANUFACTURING (LIGHT) • 20,093 SF
      24115 Industrial Park Dr, Farmington Hills, MI 48335-2864
      View Details
    • Value Estimation
      $840,000
      15,897 SF

      23035 Commerce Dr

      MANUFACTURING (LIGHT) • 15,897 SF
      23035 Commerce Dr, Farmington Hills, MI 48335-2721
      View Details

    Similar Nearby for Sale

    • $1,704,000
      14,200 SF

      Warehouse with Truckwell For Sale

      Well-maintained 14,200 sq ft warehouse with truckwell in Farmington Hills.
      24380 Indoplex Cir, Farmington Hills, MI 48335
      View Details
    • Contact for pricing
      33,789 SF

      Farmington Industrial Property For Sale

      Industrial property with quick access to major highways.
      37840 Interchange Dr, Farmington, MI 48335
      View Details
    • Contact for pricing
      66,036 SF

      Industrial Building For Sale

      Industrial building with flexible leasing options available in Farmington, MI.
      37849-37879 Interchange Dr, Farmington, MI 48335
      View Details
    • $1,537,500
      12,300 SF

      Farmington Hills Industrial Property

      12,300 SF Office/Warehouse, $1.5M
      24351 Indoplex Cir, Farmington Hills, MI 48335
      View Details
    • $1,537,500
      12,300 SF

      Freestanding Industrial Building For Sale

      12,300 SF industrial building with convenient freeway access.
      24351 Indoplex Cir, Farmington, MI 48335
      View Details
    • Contact for pricing
      16,284 SF

      Farmington Hills Flex Space

      16,284 SF Flex Space, Great Freeway Access
      37483 Interchange Dr, Farmington Hills, MI 48335
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      16,284 SF

      Farmington Hills Industrial Warehouse

      16,284 SF Warehouse/Flex Space Available
      37483 Interchange Dr, Farmington Hills, MI 48335
      View Details
    • Contact for pricing
      12,800 SF

      Freestanding Industrial Building For Rent

      Freestanding industrial building featuring heavy power and air-conditioned shop.
      37720 Interchange Dr, Farmington Hills, MI 48335
      View Details
    • Contact for pricing
      66,036 SF

      Farmington Warehouse Space for Lease

      Warehouse spaces available for lease in Farmington, Michigan.
      37849-37879 Interchange Dr, Farmington, MI 48335
      View Details
    • $8 SF/Yr
      20,265 SF

      Farmington Hills Warehouse Space

      20,265 sq ft warehouse space available for lease.
      23028 Commerce Dr, Farmington Hills, MI 48335
      View Details
    • Contact for pricing
      6,440 SF

      Farmington Hills Flex/Industrial Space

      6,440 SF flex/industrial space available for lease.
      23399 Commerce Dr, Farmington Hills, MI 48335
      View Details
    • $7 SF/Yr
      5,920 SF

      Farmington Hills Warehouse Space Available

      5,920 SF warehouse space with highway visibility and access.
      24120 Haggerty Rd, Farmington Hills, MI 48335
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    37483 Interchange Dr
    Farmington Hills, MI 48335
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.