31500 13 Mile RdFarmington Hills, MI 48334

Property Details for 31500 13 Mile Rd

Year built

1929

Lot size

4.11 AC

Property size (Sq ft)

45,838 SF

Zone code

BI

Property type

Office buildings

APN

22-23-03-476-042

APU

222303476042

Description

This exceptional 46,468 square foot executive office building, located at 31500 13 Mile Road in Farmington Hills, Michigan (zip code 48334), presents a rare opportunity for owner-users or value-add investors. The property boasts a multi-tenant configuration, offering suites ranging in size from 315 square feet to 12,191 square feet, providing flexibility for various business needs. Its prime location in Oakland County offers convenient access to major freeways, ensuring easy commutes for employees and clients. The building features ample parking, smooth ingress and egress, and the potential for prominent monument signage on 13 Mile Road, enhancing visibility and brand recognition. Recent improvements significantly enhance the property's value and appeal, including a resurfaced parking lot, updated building exterior, a new roof on half of the building, upgraded mechanical systems, and fresh landscaping. The property's strong cash flow and significant upside potential make it an attractive investment prospect. This is a truly unique opportunity to acquire a well-maintained, strategically located office building in a thriving Michigan market. The building's excellent condition and recent upgrades minimize immediate capital expenditure needs, allowing for a smooth transition and immediate occupancy or lease-up. This is a turnkey solution for businesses seeking a high-quality office space or investors looking for a strong return on investment.

• CAP approach

  CAP return

  Valuation

  6%

  $7,846,913

  6.5%

  $7,243,304

  7%

  $6,725,926

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,287,686

  Geo Method

  $4,287,686

• Alternative Use

  Use

  Valuation

  Residential

  $8,981,697

  Hospitality

  $8,227,186

  Educational

  $6,844,922

  Medical

  $7,080,330

  Retail

  $10,647,657

Location Insight

City

Farmington Hills

County

Oakland

State

Michigan

Latitude

42.5146

Longitude

-83.3613

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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