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47350 Grand Riv Ave Novi, MI 48374-1332

OFF-MARKET Commercial real estate Google Maps
3,916 SF 1.29 ac lot Built 2007
Entity Owned 9-yr Hold Absentee Owner Free & Clear
Estimated value (blended)
$2.94M
Range $2.64M – $3.23M (±10%)
Property ID US43-0676772

Property summary

AI-generated overview

This exceptional opportunity presents a proposed 160,000-square-foot medical office building in Novi, Michigan. Located at 47350 Grand River Ave, this single-tenant property offers a blank canvas for a large-scale medical practice or healthcare facility. The building is classified as Class C and sits on a substantial lot, encompassing APN numbers 22-16-176-017, 026, 028, 031, and 036 within Oakland County. The entire 160,000 square feet is currently vacant, providing unparalleled flexibility for a build-to-suit design tailored to specific operational needs. The property's zoning, OST - Office Service Technology, ensures compatibility with a wide range of medical uses. This prime location in Novi, MI (zip code 48374), offers excellent accessibility and visibility along Grand River Avenue. The coordinates are 42.4901773 latitude and -83.5148918 longitude. This is a unique chance to establish a significant presence in a thriving medical market. The scale of this project allows for a comprehensive and customized medical facility, catering to a broad spectrum of healthcare services. Contact us today to explore the possibilities of developing this substantial medical office space.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 2007
Total area 3,916 SF
Lot 1.29 ac (56,192 SF)
Zoning code OST
APN 50-22-16-176-034
UPID US43-0676772

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Loan Service Bank
  • Bank Loan Service
  • Atm
  • Atm
  • Loan Service Bank

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$831k
Blend (final) Blend
$2.94M

Owner & transaction history

since 2017
4 recorded transactions
2017
$3.0M
2012
Price N/A
2010
$1.7M
2010
Price N/A

Zoning & alternative use

OST · Novi, MI
Zoning description

OST Planned Office Service Technology District 149 - - - Found in multiple Articles and Sections 2300A Intent 149 3 3.1.23.A 3-52 2301A Principal Uses Permitted 149 3 3.1.23.B 3-52 Intro text no longer required 2301A.4 R…

General category UNKNOWN
Top alternative use upside
Retail stores $660,000 +14.1%
Medical building $620,000 +6.7%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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