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    41000 W 7 Mile Rd Northville, MI 48167
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    Property profile & analytics

    41000 W 7 Mile Rd Northville, MI 48167

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    • Office buildings
    • 27,052 SF
    • 0.84 lot acres
    For Lease
    $4,140,000
    View Listing →
    Office Space For Lease For Lease
    $4,140,000

    Office Space For Lease

    Office property available for lease in Northville, Michigan.

    41000 W 7 Mile Road, Northville, MI 48167
    View Listing
    Property ID
    US43-1442854
    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

    • Remerica Integrity II: Melissa Walker / Real Estate Agency
    • Carrico Maldegen Insurance Agency / Insurance Agency
    • Thompson Stewart, PC / Law Firm
    • Kim Millen, The Millen Team ~ ReMax Dream Properties / Real Estate Agency

    Property Details for 41000 W 7 Mile Rd

    Year built
    1984
    Lot size
    0.84 lot acres
    Property size
    27,052 SF
    Zone code
    OS
    Property type
    Office buildings
    APN
    77 003 01 0051 000
    APU
    77003010051000

    Description

    This exceptional 26,000 square foot executive office building, located at 41000 W 7 Mile Road in Northville, Michigan, presents a rare opportunity. Constructed in 1984 and extensively renovated in 2005, the property boasts a modern and efficient layout ideal for multiple tenants. The building sits on a sizable 0.84-acre lot and offers ample parking with 120 spaces available for tenants and guests. Currently, the building is fully occupied, reflecting its high demand and desirable location. The property is zoned OS and features two APNs: 77-003-01-0051-000 and 77-003-01-0052-000, spanning across Oakland and Wayne counties. Its strategic location in Northville, Michigan, zip code 48167, provides easy access to major transportation routes and amenities. This turnkey investment is perfect for those seeking a stable, high-performing asset in a thriving market. The property's modern design and substantial parking make it an attractive option for a variety of businesses. Interested parties should inquire for further details regarding this exceptional opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,140,000
      Market price range: $1.28M - $4.14M
      AI Estimate
      $4,140,000
      Market price range: $1.28M - $4.14M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,625,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $6,175,000
      Change: +135% Conversion: Easy
      COMMERCIAL (GENERAL)
      $2,970,000
      Change: +13% Conversion: Easy
      RESTAURANT
      $2,800,000
      Change: +7% Conversion: Moderate
      MEDICAL BUILDING
      $2,545,000
      Change: -3% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Northville
    County
    Wayne
    State
    Michigan
    Longitude
    -83.4498
    Latitude
    42.4245
    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
    $73,262
    $0.00
    $0.00
    $2,009,400
    -
    $0.00
    $0.00
    $4,018,800

    Comparable in this City

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    • Value Estimation
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      311 Main St

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    • Value Estimation by Request
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      19265 Gerald St

      OFFICE BUILDING • 586 SF
      19265 Gerald St, Northville, MI 48167-2520
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    • Value Estimation by Request
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      114 Rayson St

      OFFICE BUILDING • 3,013 SF
      114 Rayson St, Northville, MI 48167-1289
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    • Value Estimation
      $2,900,000
      29,875 SF

      770 Thayer Blvd

      OFFICE BUILDING • 29,875 SF
      770 Thayer Blvd, Northville, MI 48167-1365
      View Details
    • Value Estimation by Request
      1,275 SF

      43320 7th Mile Rd

      OFFICE BUILDING • 1,275 SF
      43320 7th Mile Rd, Northville, MI 48167-2280
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      12,000 SF

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      Newly constructed retail/office/medical building in affluent Northville, Michigan.
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      View Details
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      Downtown Northville Office Building

      4,826 SF office building with parking in downtown Northville.
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      Traditions Drive Commercial Property

      Commercial property available for sale on Traditions Drive.
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      2.00 Acres

      Prime 2-Acre Building Site

      2-acre building site in Lyon Township, Northville Schools.
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      95 SF

      Horse Track Redevelopment Opportunity

      95-acre horse track, excellent redevelopment site on Seven Mile.
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    Similar Nearby for Lease

    • $3,500 /Mo
      700 SF

      Northville Office Space Available

      Office space for rent in Northville, Michigan.
      104 W Main St, Northville, MI 48167
      View Details
    • $30 SF/Yr
      4,144 SF

      Northville Executive Office Suite

      Modern Office, Prime Location, 2,135 SF
      342 Main St, Northville, MI 48167
      View Details
    • $5,500 /Mo
      6,232 SF

      Northville Office Space For Rent

      Former chiropractic office suitable for healthcare or professional services.
      41074 7 Mile Rd, Northville, MI 48167
      View Details
    • Contact for pricing

      Northville Office Spaces Available

      Office spaces for rent, ranging from 900 to 4,045 sq. ft.
      22260 Haggerty Rd, Northville, MI 48167
      View Details
    • Contact for pricing
      3,259 SF

      Downtown Northville Office Suite

      6,517 SF office suite in downtown Northville.
      311 E Main St, Northville, MI 48167
      View Details
    View Listing
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    Northville, MI 48167
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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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