21700 Greenfield RdOak Park, MI 48237

Property Details for 21700 Greenfield Rd

Year built

1968

Lot size

6.15 AC

Property size (Sq ft)

193,136 SF

Zone code

B-2

Property type

Office properties

Property subtype

Office buildings

APN

52-25-31-155-011

APU

522531155011

Description

Greenfield Plaza, located at 21700 Greenfield Rd in Oak Park, MI, offers 198,000 square feet of prime commercial space across a five-story, Class B building constructed in 1968. This single building sits on a 6.14-acre lot and features a variety of flexible floor plans suitable for diverse business needs. Tenants can choose from multiple suites, with a minimum divisible space of 300 square feet and a maximum contiguous space of 8,000 square feet. The building is currently configured for multiple tenants. The property is ideally suited for retail, medical offices, hair salons, schools, general business offices, and specialty businesses. Three elevators service the building, which boasts a ceiling height of 10 feet. Its strategic location across from a new multi-family, retail, and office development ensures high visibility and traffic. Easy access to major thoroughfares and ample parking further enhance its appeal. This vibrant, growing community presents a unique opportunity to establish a presence in a dynamic business hub.

• CAP approach

  CAP return

  Valuation

  6%

  $40,169,468

  6.5%

  $37,079,508

  7%

  $34,430,972

• Comparable approach

  Method

  Valuation

  Relative Method

  $18,065,942

  Geo Method

  $18,065,942

• Alternative Use

  Use

  Valuation

  Residential

  $45,978,592

  Hospitality

  $42,116,144

  Educational

  $35,040,136

  Medical

  $36,245,220

  Retail

  $54,506,880

Location Insight

City

Oak Park

County

Oakland

State

Michigan

Latitude

42.4531

Longitude

-83.1998

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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