21500 Northwestern HwySouthfield, MI 48075

Property Details for 21500 Northwestern Hwy

Year built

1998

Lot size

9.10 AC

Property size (Sq ft)

125,071 SF

Zone code

RS

Property type

Commercial real estate

APN

76-24-36-476-040

APU

762436476040

Description

This exceptional 100,000 square foot medical office opportunity is located within the revitalized Northland City Center in Southfield, Michigan. Situated on a 100-acre lot, this 2022-built property offers flexible spaces ranging from 2,000 to 100,000 contiguous square feet, currently entirely vacant. The building is part of a larger mixed-use development, transforming a former landmark shopping center into a vibrant urban center. The project includes residential units, landscaped areas, and parking facilities, creating a dynamic and desirable location for medical practices. The property's prime location at 21500 Northwestern Highway, Southfield, MI 48075, in Oakland County, ensures high visibility and accessibility. This redevelopment project respects the historical significance of the original 1954 Northland Center while creating a modern, state-of-the-art environment. The inclusion of a planned regional attraction further enhances the property's appeal and potential for success. This is a unique chance to establish a medical practice in a thriving, newly developed community. The entire 100,000 square feet is available for lease.

• CAP approach

  CAP return

  Valuation

  6%

  $28,409,100

  6.5%

  $26,223,800

  7%

  $24,350,600

• Comparable approach

  Method

  Valuation

  Relative Method

  $11,699,100

  Geo Method

  $11,699,100

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $49,716,900

  Retail / Commercial

  $25,868,800

  Mixed-Use / Specialty

  $26,071,500

  Hospitality / Lodging

  $19,511,800

  Office

  $26,223,800

  Institutional / Educational

  $27,209,300

  Residential Income

  $31,834,800

  Multifamily

  $36,546,100

  Automotive / Energy

  $23,322,200

  Parking / Income-Based Land

  $7,756,850

  Restaurant / Food Service

  $14,189,400

  Healthcare / Senior Housing

  $26,433,400

Location Insight

City

Southfield

County

Oakland

State

Michigan

Latitude

42.4536

Longitude

-83.2085

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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