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33505 State St 4,560 SF 95% Leased Office Building Farmington Hills, MI 48335 $550,000 ($120.61/SF) 7.20% Cap Rate
Investment Highlights
- Multi-tenant office investment opportunity
- All major building systems have been replaced
- Easy to lease & manage for new or experienced investors
- NOI of $40,0000 | 7.27% Cap Rate | 95% occupied
- Recently updated throughout including restrooms
- Great location in walkable Farmington
Executive Summary
Multi-tenant office building located in the heart of walkable Downtown Farmington. The property features smaller, fully leased suites that are easy to
manage and consistently in demand. Boasting a strong NOI of $40,0000 and an impressive 7.27% Cap Rate, the property enjoys a remarkable 95% occupancy.
Built in 1973 and recently renovated in 2024, ownership has invested in significant capital improvements, including replacement of all major building systems and
updated restrooms, ensuring a seamless investment for both new and experienced investors.
The building benefits from a highly favorable parking arrangement with the City of Farmington. An adjacent parcel provides public parking, and the city
maintains the on-site lot to the same standard—handling cleaning, snow removal, salting, lighting, striping as needed, and general maintenance.
Excellent location in desirable downtown Farmington. With a vibrant business community and strong local economy, the area provides a compelling environment for commercial real estate investment.
manage and consistently in demand. Boasting a strong NOI of $40,0000 and an impressive 7.27% Cap Rate, the property enjoys a remarkable 95% occupancy.
Built in 1973 and recently renovated in 2024, ownership has invested in significant capital improvements, including replacement of all major building systems and
updated restrooms, ensuring a seamless investment for both new and experienced investors.
The building benefits from a highly favorable parking arrangement with the City of Farmington. An adjacent parcel provides public parking, and the city
maintains the on-site lot to the same standard—handling cleaning, snow removal, salting, lighting, striping as needed, and general maintenance.
Excellent location in desirable downtown Farmington. With a vibrant business community and strong local economy, the area provides a compelling environment for commercial real estate investment.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
4,560 SF
Building Class
C
Year Built/Renovated
1973/2024
Price
$550,000
Price Per SF
$120.61
Cap Rate
7.20%
NOI
$39,600
Percent Leased
95%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
2,280 SF
Building FAR
0.35
Lot Size
0.30 AC
Zoning
OS - Office Service
Parking
25 Spaces (4.39 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Wheelchair Accessible
- Monument Signage
- Air Conditioning
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Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 23-28-280-004 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $250,410 |
Property Taxes
Parcel Number
23-28-280-004
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$250,410
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33505 State St
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