24381 Orchard Lake RdFarmington Hills, MI 48336

Property Details for 24381 Orchard Lake Rd

Year built

1980

Lot size

1.26 AC

Property size (Sq ft)

4,687 SF

Zone code

BI

Property type

Office buildings

APN

22-23-22-476-040

APU

222322476040

Description

This exceptional 10,000-square-foot medical office building, situated on a spacious 1.26-acre lot in Farmington Hills, Michigan, presents a compelling investment opportunity. Built in 2002 and extensively renovated in 2015, the property boasts a single-story design with a fully renovated basement adding approximately 5,000 square feet of usable space. The interior features high-quality finishes including luxury vinyl plank and ceramic tile flooring. The basement includes a kitchen and full bath complete with a jacuzzi tub. The building is equipped with multiple HVAC zones, a comprehensive sprinkler and security system, and a backup generator, ensuring both comfort and safety. Ample parking is provided with 27 spaces. Its prime location along Orchard Lake Road, a high-traffic thoroughfare with over 20,000 cars daily, offers excellent visibility and accessibility. The property is zoned OS-2 (Office Service 2) and features multiple points of entry, making it ideal for a multi-tenant configuration. The asking price is $1,200,000. The property's APN is 23-22-476-040. This well-maintained building offers a peaceful setting, set back from the road, and represents a strong investment in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $802,358

  6.5%

  $740,638

  7%

  $687,735

• Comparable approach

  Method

  Valuation

  Relative Method

  $438,422

  Geo Method

  $438,422

• Alternative Use

  Use

  Valuation

  Residential

  $918,391

  Hospitality

  $841,241

  Educational

  $699,903

  Medical

  $723,974

  Retail

  $1,088,738

Location Insight

City

Farmington Hills

County

Oakland

State

Michigan

Latitude

42.4722

Longitude

-83.3581

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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