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    Property profile & analytics

    37655 Interchange Dr Farmington Hills, MI 48335

    • Industrial properties
    • 27,664 SF
    • 2.52 lot acres
    For Sale
    View listing
    Last Sale
    Jul 06, 2022
    $1,387,500
    Value Estimations
    Cap Rate Potential
    9.3%
    Industrial properties
    Location Intelligence
    Property ID
    US43-4242638
    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

    • Industrial properties

    Property Details for 37655 Interchange Dr

    Year built
    1984
    Lot size
    2.52 lot acres
    Property size
    27,664 SF
    Property type
    Industrial properties
    APN
    22-23-19-252-024
    APU
    222319252024

    Description

    This exceptional 9,800-square-foot freestanding flex building in Farmington Hills, Michigan, presents a unique opportunity. Situated on a 2-acre lot at 37655 Interchange Dr, 48335, this single-story, 1986-built property offers a versatile layout ideal for various businesses. The building boasts 54% office space, thoughtfully designed with open work areas, two private offices, a large conference room, and two smaller conference rooms. The shop area is air-conditioned and features a 16-foot ceiling height, perfect for efficient operations. Loading is facilitated by one 12' x 14' grade-level door. Ample parking is available with 43 spaces. The property is zoned IRO, providing flexibility for a range of uses. Its prime location offers excellent freeway access via I-696, I-96, I-275, and M-5, easily reached through several major roadways. Signage opportunities on Halsted Road are also available. This property is ready for immediate occupancy and presents a compelling investment opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,470,000
      ML approach
      $1,435,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,285,000
      6.5%
      $2,110,000
      7%
      $1,960,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,095,000
      Market price range: $1.59M - $3.01M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $2,270,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Farmington Hills
    County
    Oakland
    State
    Michigan
    Longitude
    -83.4201
    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
    $37,597
    $161,070
    $760,710
    $921,780
    -
    $322,140
    $1,521,420
    $1,843,560

    Comparable in this City

    • Value Estimation by Request
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      23933-23975 Research Dr Unit

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    • Value Estimation
      $800,000
      72,750 SF

      22630 Haggerty Rd

      INDUSTRIAL (GENERAL) • 72,750 SF
      22630 Haggerty Rd, Farmington Hills, MI 48335-2649
      View Details
    • Value Estimation
      $790,000
      80,315 SF

      24175 Research Dr

      INDUSTRIAL (GENERAL) • 80,315 SF
      24175 Research Dr, Farmington Hills, MI 48335-2634
      View Details
    • Value Estimation
      $1,020,000
      54,838 SF

      24775 Crestview Ct

      INDUSTRIAL (GENERAL) • 54,838 SF
      24775 Crestview Ct, Farmington Hills, MI 48335-1507
      View Details
    • Value Estimation
      $765,000
      124,800 SF

      24120 Haggerty Rd

      INDUSTRIAL (GENERAL) • 124,800 SF
      24120 Haggerty Rd, Farmington Hills, MI 48335-2645
      View Details
    • Value Estimation
      $440,000
      20,089 SF

      38900 10th Mile Rd

      INDUSTRIAL (GENERAL) • 20,089 SF
      38900 10th Mile Rd, Farmington, MI 48335-2636
      View Details

    Similar Nearby for Sale

    • $1,537,500
      12,300 SF

      Farmington Hills Industrial Property

      12,300 SF Office/Warehouse, $1.5M
      24351 Indoplex Cir, Farmington Hills, MI 48335
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      16,284 SF

      Farmington Hills Flex Space

      16,284 SF Flex Space, Great Freeway Access
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      33,789 SF

      Halsted Commerce Park: Farmington Hills Flex Space

      1-Story Flex Space, 15,132 SF, Excellent Location
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      9,800 SF

      Farmington Hills Flex Space

      9,800 SF Flex Building, IRO Zoning
      37655 Interchange Dr, Farmington Hills, MI 48335
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      66,036 SF

      Farmington Hills Industrial Flex Space

      66,036 SF Multi-Tenant Industrial Building
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    • $1,150,000
      15,170 SF

      Farmington Hills Flex Space For Sale

      15,170 SF Flex Building, $1.15M
      24435 Halsted Rd, Farmington Hills, MI 48335
      View Details

    Similar Nearby for Lease

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      4,500 SF

      Industrial Space in Farmington Hills

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      4,500 SF

      Industrial Warehouse Space For Rent

      Industrial warehouse space available for rent in Farmington Hills.
      24758 Crestview Ct, Farmington Hills, MI 48335
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      9,800 SF

      Freestanding Flex Building For Lease

      Freestanding flex building with office and shop space available.
      37655 Interchange Dr, Farmington Hills, MI 48335
      View Details
    • $12 SF/Yr
      3,000 SF

      Industrial Space Available For Rent

      Office and warehouse space available in Farmington Hills, Michigan.
      23192 Commerce Dr, Farmington Hills, MI 48335
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    • Contact for pricing
      16,284 SF

      Farmington Hills Flex Space Available

      Flex space with great freeway access and signage opportunities.
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      View Details
    • Contact for pricing
      6,440 SF

      Farmington Hills Flex/Industrial Space

      6,440 SF flex/industrial space available for lease.
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      View Details
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    Farmington Hills, MI 48335
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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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