300 Galleria OfficentreSouthfield, MI 48034

Property Details for 300 Galleria Officentre

Year built

1985

Lot size

14.60 AC

Property size (Sq ft)

306,250 SF

Zone code

RC

Property type

Office properties

Property subtype

Office buildings

APN

76-24-17-126-049

APU

762417126049

Description

This exceptional investment opportunity presents two adjacent outlots totaling approximately two acres, ideally situated in Southfield, Michigan's thriving office submarket. The property, identified by APN 24-17-126-044, is zoned RC and offers unparalleled visibility along 12 Mile Road. Plans are in place for a 5,000 square foot building, suitable for retail, office, or medical use, perfectly aligning with the area's demand. The site boasts ample parking with 50 spaces available, ensuring convenient access for patients, clients, and staff. Located at 300 Galleria Officentre, Southfield, MI 48034 (42.4985442, -83.2922384), this property presents a rare chance to acquire prime real estate in a high-demand location. The individual outlots are each approximately one acre, providing flexibility for development or future expansion. This is a turnkey opportunity for investors seeking a strong return in a stable and growing market. The property's strategic location within Oakland County ensures easy access to major transportation routes and a robust local economy. This is an exceptional opportunity to acquire a high-visibility property with significant potential for growth and profitability. The proposed building's versatile design caters to a wide range of potential tenants, minimizing vacancy risk and maximizing rental income.

• CAP approach

  CAP return

  Valuation

  6%

  $52,426,308

  6.5%

  $48,393,512

  7%

  $44,936,836

• Comparable approach

  Method

  Valuation

  Relative Method

  $28,646,626

  Geo Method

  $28,646,626

• Alternative Use

  Use

  Valuation

  Residential

  $60,007,956

  Hospitality

  $54,966,968

  Educational

  $45,731,872

  Medical

  $47,304,660

  Retail

  $71,138,464

Location Insight

City

Southfield

County

Oakland

State

Michigan

Latitude

42.4981

Longitude

-83.292

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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