20180 12 Mile RdSouthfield, MI 48076

Property Details for 20180 12 Mile Rd

Year built

1965

Lot size

0.97 AC

Property size (Sq ft)

9,052 SF

Zone code

OS

Property type

Medical offices

Property subtype

Medical centers

APN

76-24-10-479-056

APU

762410479056

Description

This exceptional 9,052-square-foot medical office building, located at 20180 W Twelve Mile Road in Southfield, Michigan, presents a compelling investment opportunity. Built in 1973 and extensively renovated in 2013, the property boasts a strong net operating income (NOI) of $155,000. The building is situated on a 0.97-acre lot and features ample parking, providing a 7:1,000 sq ft ratio. The property is currently leased under a triple-net (NNN) lease to multiple tenants. The asking price is $2,000,000, translating to a price per square foot of $220.94. Its prime location offers convenient access to I-696 and Evergreen Road, ensuring high visibility and accessibility for patients and staff. The building benefits from prominent exterior monument signage on Twelve Mile Road. Its proximity to Corewell Health Royal Oak and local retail amenities further enhances its appeal. This well-maintained property represents a stable and attractive investment in a thriving medical market. The property's 9,052 square feet of net rentable space makes it an ideal investment for those seeking a strong return in the Southfield, Oakland County area (zip code 48076).

• CAP approach

  CAP return

  Valuation

  6%

  $1,549,593

  6.5%

  $1,430,394

  7%

  $1,328,223

• Comparable approach

  Method

  Valuation

  Relative Method

  $846,724

  Geo Method

  $846,724

• Alternative Use

  Use

  Valuation

  Residential

  $1,773,688

  Hospitality

  $1,624,689

  Educational

  $1,351,722

  Medical

  $1,398,210

  Retail

  $2,102,679

Location Insight

City

Southfield

County

Oakland

State

Michigan

Latitude

42.5024

Longitude

-83.2434

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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