Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    38505 Woodward Ave Bloomfield Hills, MI 48304
    Property profile & analytics

    38505 Woodward Ave Bloomfield Hills, MI 48304

    View on Map
    • Commercial land
    • 0.75 lot acres
    For Lease
    View Listing →
    Bloomfield Hills Class A Office For Lease
    Contact for pricing

    Bloomfield Hills Class A Office

    Class A office building in prestigious Bloomfield Hills location.

    38505 Woodward Ave, Bloomfield Hills, MI 48304
    View Listing
    Property ID
    US43-1191665
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 38505 Woodward Ave

    Lot size
    0.75 lot acres
    Zone code
    BV
    Property type
    Commercial land
    APN
    12-19-23-401-029
    APU
    121923401029

    Description

    This exceptional Class A office building, located at 38505 Woodward Avenue in Bloomfield Hills, Michigan, offers a unique blend of executive office, coworking, and creative office spaces. Boasting a total of 82,781 square feet, the property sits on a generous 3.85-acre lot and is zoned O-2 for office use. Built in 1982 and extensively renovated in 2017, the building presents a modern and functional workspace. Currently, there is 688 square feet of vacant space immediately available for lease, perfect for a small business or expanding team. The property's multiple tenancy structure allows for flexibility and diverse occupancy. Its prime location in Bloomfield Hills, Oakland County, offers easy access to major roadways and amenities. The property's APN is 19-23-401-029 and 19-23-401-033. This is an excellent opportunity to secure high-quality office space in a desirable location. The building's modern amenities and strategic location make it an ideal choice for businesses seeking a prestigious and functional workspace. Contact us today to learn more about this exceptional leasing opportunity in the heart of Bloomfield Hills. The zip code is 48304.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Bloomfield Hills
    County
    Oakland
    State
    Michigan
    Longitude
    -83.2303
    Latitude
    42.5666
    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
    $11,377
    $0.00
    $0.00
    $288,150
    -
    $0.00
    $0.00
    $576,300

    Comparable in this City

    • Value Estimation by Request
      0.40 Acres

      40700 Woodward Ave Ste, Unit 250

      VACANT COMMERCIAL LAND • 0.40 Acres
      40700 Woodward Ave Ste, Bloomfield Hills, MI 48304-5111
      View Details
    • Value Estimation by Request
      1.43 Acres

      Bloomfield Hills, MI 48304

      VACANT COMMERCIAL LAND • 1.43 Acres
      Bloomfield Hills, MI 48304
      View Details
    • Value Estimation by Request
      2.13 Acres

      Bloomfield Hills, MI 48304

      VACANT COMMERCIAL LAND • 2.13 Acres
      Bloomfield Hills, MI 48304
      View Details
    • Value Estimation by Request
      0.30 Acres

      33 Bloomfield Hls Pkwy

      VACANT COMMERCIAL LAND • 0.30 Acres
      33 Bloomfield Hls Pkwy, Bloomfield Hills, MI 48304-2944
      View Details
    • Value Estimation by Request
      0.28 Acres

      70 Long Lk Rd

      VACANT COMMERCIAL LAND • 0.28 Acres
      70 Long Lk Rd, Bloomfield Hills, MI 48304-2356
      View Details
    • Value Estimation
      $3,000,000
      0.33 Acres

      39515 Woodward Ave

      VACANT COMMERCIAL LAND • 0.33 Acres
      39515 Woodward Ave, Bloomfield Hills, MI 48304-5022
      View Details

    Similar Nearby for Sale

    • $3,500,000

      Usable Land Parcel For Sale

      23.58 acres of usable commercial land with all utilities.
      Franklin Rd, Bloomfield Twp, MI 48304
      View Details
    • $1,350,000

      Vacant Parcel on North Woodward

      Last remaining vacant commercial land parcel on North Woodward Avenue.
      43572 Woodward Ave, Bloomfield Twp, MI 48304
      View Details
    • $1,150,000
      2.32 Acres

      Bloomfield Hills Estate Building Opportunity

      2.32-acre parcel for custom estate in prime location.
      1355 Orchard Ridge Rd, Bloomfield Twp, MI 48304
      View Details
    • $1,495,000
      3.01 Acres

      Bloomfield Hills Building Site

      Prime residential land in prestigious Bloomfield Hills neighborhood.
      Brookdale Rd, Bloomfield Hills, MI 48304
      View Details
    • $770,000
      3.40 Acres

      Bloomfield Hills Building Site

      3.4 acre residential land parcel in Bloomfield Hills, Michigan.
      E Long Lake Rd, Bloomfield Hills, MI 48304
      View Details
    • Contact for pricing
      46,678 SF

      Bloomfield Hills Office Building

      46,678 SqFt office building for sale.
      36800 Woodward Ave, Bloomfield Hills, MI 48304
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Class A Bloomfield Hills Office

      Class A office complex in Bloomfield Hills with recent renovations.
      40900 Woodward Ave, Bloomfield Hills, MI 48304
      View Details
    • $25 SF/Yr

      Bloomfield Hills Office Building

      Owner-occupied office building with renovated common areas in Bloomfield Hills.
      39520 Woodward Ave, Bloomfield Hills, MI 48304
      View Details
    • Contact for pricing

      Bloomfield Hills Class A Office

      Class A office space available in Bloomfield Hills.
      39533 Woodward Ave, Bloomfield Hills, MI 48304
      View Details
    • Contact for pricing

      Bloomfield Hills

      Discover many ways to work your way in Bloomfield Hills
      41000 Woodward Ave, Birmingham, MI 48304
      View Details
    • Contact for pricing

      Bloomfield Hills Office Space

      Office space available for lease in Bloomfield Hills, Michigan.
      40700 Woodward Ave, Bloomfield Hills, MI 48304
      View Details
    View Listing
    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.
    38505 Woodward Ave
    Bloomfield Hills, MI 48304
    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

    Thank You for Inquiry
    38505 Woodward Ave, Bloomfield Hills, MI, 48304
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!