23077 Greenfield RdSouthfield, MI 48075

Property Details for 23077 Greenfield Rd

Year built

1969

Lot size

8.14 AC

Property size (Sq ft)

240,520 SF

Zone code

B-3

Property type

Office properties

Property subtype

Office buildings

APN

76-24-25-476-009

APU

762425476009

Description

This exceptional 288,000 square foot multi-tenant medical office building, located in Oakland County, offers a variety of lease options. Spaces range from a minimum of 461 square feet to a maximum contiguous space of 45,000 square feet, with 58,249 square feet currently vacant. The building underwent extensive renovations in 2022, ensuring modern and efficient spaces for tenants. The property boasts a convenient 5.6 parking spaces per 1,000 square feet ratio, combining deck and surface parking. Its Office/Medical zoning makes it ideal for a wide range of healthcare and professional services. The building is professionally managed and includes amenities such as an on-site café and convenient access to major roadways including I-696, the Lodge Freeway, and Northwestern Highway. High-speed internet access is available via fiber optics and cable. Its central location within the metro area and proximity to Ascension Providence Hospital further enhance its desirability. A three-year lease term is available. This is a full-service building with extended service hours and a vibrant mix of medical, office, and retail tenants.

• CAP approach

  CAP return

  Valuation

  6%

  $50,024,648

  6.5%

  $46,176,600

  7%

  $42,878,272

• Comparable approach

  Method

  Valuation

  Relative Method

  $22,498,240

  Geo Method

  $22,498,240

• Alternative Use

  Use

  Valuation

  Residential

  $57,258,984

  Hospitality

  $52,448,920

  Educational

  $43,636,884

  Medical

  $45,137,624

  Retail

  $67,879,600

Location Insight

City

Southfield

County

Oakland

State

Michigan

Latitude

42.4603

Longitude

-83.2024

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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