26440 Southfield RdLathrup Village, MI 48076

Property Details for 26440 Southfield Rd

Year built

1966

Lot size

0.28 AC

Property size (Sq ft)

5,920 SF

Zone code

BI

Property type

Office buildings

APN

40-24-24-151-014

APU

402424151014

Description

This exceptional 1,500-square-foot creative office suite is located at 26440 Southfield Road, Suite 6, Lathrup Village, Michigan, in Oakland County. Situated south of Southfield Road and west of 11 Mile Road, this single-tenant space boasts recently updated features including fresh white paint, attractive millwork, elegant French doors, and modern 2x2 ceiling panels with recessed lighting in the reception area. The suite includes two private lavatories and a built-in reception area featuring a granite countertop. The versatile layout offers approximately six private offices and at least three open-plan areas, all benefiting from abundant natural light thanks to large slider windows facing west. The suite has its own separate electric and gas meters, along with individual HVAC control. Water is included in the lease. The building offers added security with surveillance cameras covering the common areas and parking lot, which is illuminated by dusk-to-dawn lighting. Weekly common area cleaning, snow removal, and lawn maintenance are provided. Tenants are responsible for obtaining and maintaining current business licenses with the City of Lathrup Village. The owner prefers office use and will give priority to applicants seeking such use. Personal care service businesses are not preferred. Rent concessions may be available for pre-approved tenant improvements. The total building size is 5,920 square feet, and the property is zoned Commercial, Multiple, Office.

• CAP approach

  CAP return

  Valuation

  6%

  $1,013,433

  6.5%

  $935,476

  7%

  $868,656

• Comparable approach

  Method

  Valuation

  Relative Method

  $553,757

  Geo Method

  $553,757

• Alternative Use

  Use

  Valuation

  Residential

  $1,159,990

  Hospitality

  $1,062,545

  Educational

  $884,025

  Medical

  $914,428

  Retail

  $1,375,150

Location Insight

City

Lathrup Village

County

Oakland

State

Michigan

Latitude

42.4844

Longitude

-83.2211

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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