23332 Orchard Lake RdFarmington Hills, MI 48336

Property Details for 23332 Orchard Lake Rd

Year built

1990

Lot size

0.45 AC

Property size (Sq ft)

4,298 SF

Property type

Office buildings

APN

22-23-26-153-028

APU

222326153028

Description

This exceptional Farmington Hills, MI office condominium complex, known as Twin Orchard Plaza, presents a unique investment opportunity. The property, situated on 1.16 acres at 23332 Orchard Lake Rd, 48336, comprises two units totaling 6,389 square feet of rentable space. Unit 2, a spacious 5,291 square feet, features four entry doors and is currently owner-occupied, with the seller vacating upon closing. Unit 4, measuring 1,098 square feet, has one entry door and is currently occupied by a short-term tenant. Both units can be purchased individually or together. The property boasts a recently replaced roof and asphalt parking lot, ensuring low maintenance costs. Each unit has access to a prominent monument sign at the Orchard Lake entrance. Built in 1991 and renovated in 1999, the property is zoned OS-1 Office, offering ground floor entry and easy parking and access. The asking price for Unit 2 is $600,000, while Unit 4 is priced at $150,000. All common area expenses are shared between the two units. This is an ideal opportunity for owner-occupancy or investment, offering a prime location and excellent value in the thriving Farmington Hills market.

• CAP approach

  CAP return

  Valuation

  6%

  $735,766

  6.5%

  $679,168

  7%

  $630,656

• Comparable approach

  Method

  Valuation

  Relative Method

  $402,035

  Geo Method

  $402,035

• Alternative Use

  Use

  Valuation

  Residential

  $842,169

  Hospitality

  $771,422

  Educational

  $641,814

  Medical

  $663,887

  Retail

  $998,378

Location Insight

City

Farmington Hills

County

Oakland

State

Michigan

Latitude

42.4635

Longitude

-83.356

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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