21850 Greenfield RdOak Park, MI 48237

Property Details for 21850 Greenfield Rd

Year built

1963

Lot size

0.60 AC

Property size (Sq ft)

9,808 SF

Zone code

O

Property type

Office properties

Property subtype

Office buildings

APN

52-25-31-155-001

APU

522531155001

Description

This 10,000-square-foot single-tenant office building in Oak Park, MI, is available for lease starting April 1, 2024. Located at 21850 Greenfield Rd (APN 67534586545604781), this Class C building boasts a 15-foot ceiling height and ample parking (50 spaces). Built in 1963 and renovated in 2010, the property features an ADA-compliant entrance, a large bullpen area, twenty private exterior offices, two conference rooms, and three restrooms (one executive). The 0.5-acre lot is zoned for office/retail use, offering excellent signage opportunities. Its prime location across from the new Costco Business Center, near M-10 (Lodge) and I-696 freeways, Providence Hospital Southfield, and just 15 minutes from Downtown Detroit, provides easy access to major transportation routes and amenities. Nearby restaurants and shopping centers add to the convenience. The property is situated near new apartment construction, indicating a growing and vibrant area. This is an exceptional opportunity for a business seeking a well-maintained, conveniently located office space.

• CAP approach

  CAP return

  Valuation

  6%

  $2,039,921

  6.5%

  $1,883,004

  7%

  $1,748,504

• Comparable approach

  Method

  Valuation

  Relative Method

  $917,440

  Geo Method

  $917,440

• Alternative Use

  Use

  Valuation

  Residential

  $2,334,925

  Hospitality

  $2,138,778

  Educational

  $1,779,439

  Medical

  $1,840,636

  Retail

  $2,768,016

Location Insight

City

Oak Park

County

Oakland

State

Michigan

Latitude

42.4554

Longitude

-83.2005

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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