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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5600 Crooks Rd Troy, MI 48098

    • Commercial real estate
    • 95,616 SF
    • 10.98 lot acres
    For Lease
    View listing
    $16 SF/Yr
    Last Sale
    Jan 18, 2024
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0909493
    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

    • Annabel's & Co / Take-out & Catering / Catering Service
    • Commercial Alliance / Financial Advisor
    • Doorstep Nutrition / Take-out & Catering / Catering Service
    • Dr. Jerome V. Ciullo, MD / Physician
    • Federal Bureau-Investigation / Law Firm / Security Service

    Property Details for 5600 Crooks Rd

    Year built
    1970
    Lot size
    10.98 lot acres
    Property size
    95,616 SF
    Zone code
    R-C
    Property type
    Commercial real estate
    APN
    88-20-09-151-003
    APU
    882009151003

    Description

    Northfield Plaza I, a Class B office building in Troy's desirable submarket of Oakland County, offers exceptional executive office space for lease. This multi-tenant property boasts a total of 115,314 square feet, with a significant amount of vacant space currently available, ranging from a minimum of 2,858 square feet to a maximum contiguous space of 16,068 square feet. The building sits on an expansive 11.61-acre lot, providing ample parking with a ratio of 6 spaces per 1,000 square feet. Built in 1973, Northfield Plaza I presents a solid opportunity for businesses seeking flexible and well-located office accommodations. The available space is ideal for companies needing a variety of sizes, from smaller executive suites to larger office footprints. The property's strategic location within the thriving Troy submarket offers easy access to major transportation routes and a wealth of amenities. This is a fantastic chance to secure prime office space in a well-established and convenient location. The building's multi-tenant nature fosters a collaborative and dynamic work environment. Contact us today to learn more about leasing opportunities at Northfield Plaza I.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $12,192,000
      Market price range: $12.2M - $23.4M
      AI Estimate
      $12,192,000
      Market price range: $12.2M - $23.4M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $17,460,000
      Current use
      RESTAURANT
      $16,550,000
      Change: -5% Conversion: Difficult
      RETAIL STORES
      $16,140,000
      Change: -8% Conversion: Easy
      MEDICAL BUILDING
      $15,095,000
      Change: -14% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Troy
    County
    Oakland
    State
    Michigan
    Longitude
    -83.1669
    Latitude
    42.6015
    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
    2022
    $170,643
    $0.00
    $0.00
    $3,319,176
    -
    $0.00
    $0.00
    $6,638,352

    Comparable in this City

    • Value Estimation by Request
      1.01 Acres

      5569 Crooks Rd

      COMMERCIAL (GENERAL) • 1.01 Acres
      5569 Crooks Rd, Troy, MI 48098-2857
      View Details
    • Value Estimation
      $27,820,000
      218,155 SF

      800 Tower Dr

      COMMERCIAL (GENERAL) • 218,155 SF
      800 Tower Dr, Troy, MI 48098-2843
      View Details
    • Value Estimation
      $4,540,000
      31,200 SF

      5800 Crooks Rd

      COMMERCIAL (GENERAL) • 31,200 SF
      5800 Crooks Rd, Troy, MI 48098-2830
      View Details
    • Value Estimation
      $12,605,000
      93,300 SF

      5607 New King Dr

      COMMERCIAL (GENERAL) • 93,300 SF
      5607 New King Dr, Troy, MI 48098-2661
      View Details
    • Value Estimation
      $11,760,000
      92,208 SF

      5750 New King Dr

      COMMERCIAL (GENERAL) • 92,208 SF
      5750 New King Dr, Troy, MI 48098-2605
      View Details
    • Value Estimation
      $9,070,000
      51,582 SF

      4555 Investment Dr

      COMMERCIAL (GENERAL) • 51,582 SF
      4555 Investment Dr, Troy, MI 48098-6338
      View Details

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      Office Building on Crooks Road

      Office building located at 5600 Crooks Rd, Troy, MI 48098.
      5600 Crooks Rd, Troy, MI 48098
      View Details

    Similar Nearby for Lease

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    5600 Crooks Rd
    Troy, MI 48098
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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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