32969 Hamilton CtFarmington Hills, MI 48334

Property Details for 32969 Hamilton Ct

Year built

1972

Lot size

2.42 AC

Property size (Sq ft)

40,768 SF

Zone code

BI

Property type

Office buildings

APN

22-23-15-101-018

APU

222315101018

Description

Quakertown Plaza presents a compelling value-add opportunity in Farmington Hills, Michigan. This two-building office complex, totaling 63,807 square feet, sits on a 2.42-acre lot and offers 177 parking spaces. The property, built in 1975, features three stories per building and is currently 60% occupied, presenting a significant opportunity for a new owner to reposition and rebrand the space. The buildings are zoned OS-4 | Office Research District, providing flexibility for future use. Recent capital improvements include new heating and cooling systems (boilers, air conditioning units, and furnaces) in both buildings. The asking price is $3,000,000, translating to $47 per square foot—significantly below replacement cost. The property boasts prominent 12 Mile Road monument signage, enhancing visibility and accessibility. With a current Net Operating Income (NOI) of $97,412, this property is ideal for investors seeking undervalued office product in a high-quality area or a user requiring 10,000+ square feet of space. The substantial parking and prime location make this a highly attractive investment.

• CAP approach

  CAP return

  Valuation

  6%

  $6,978,990

  6.5%

  $6,442,144

  7%

  $5,981,992

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,813,439

  Geo Method

  $3,813,439

• Alternative Use

  Use

  Valuation

  Residential

  $7,988,260

  Hospitality

  $7,317,202

  Educational

  $6,087,826

  Medical

  $6,297,196

  Retail

  $9,469,953

Location Insight

City

Farmington Hills

County

Oakland

State

Michigan

Latitude

42.4974

Longitude

-83.3742

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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