40820 7 Mile Rd 11,746 SF Office Building Northville, MI 48167 $4,800,000 ($408.65/SF) 4.79% Cap Rate

40820 W 7 Mile Road, a newly constructed (2023) 11,746-square-foot multi-tenant retail/office/medical building located in Northville, Michigan, one of Metro Detroit’s most affluent and rapidly expanding suburban markets. The property is 76% occupied by three reputable healthcare tenants - Maybury Dental Spa, Athletico Physical Therapy, and Best Life N of 1. Each is secured under long-term NNN leases with two five-year renewal options, providing investors with stable, predictable income and minimal landlord responsibilities.
The remaining 2,810-square-foot suite offers significant value-add potential, with the ability to increase projected annual income from $230,158 (in-place) to $303,219 (fully leased) by 2026. Built with modern architectural design and high-quality construction, the property sits on 1.68 acres zoned OS (Office Service), offering flexibility for medical, office, or professional service tenants.
Located along the highly visible 7 Mile Road corridor, the asset provides excellent access to major freeways, strong daily traffic counts, and proximity to Northville Park Place, a 275,000 SF shopping & dining destination with national retailers including Trader Joe’s, Granite City Food & Brewery, Jimmy Johns, and Orangetheory Fitness. The surrounding area features an average household income of $133,409 within three miles, underscoring the strength and stability of the local demographic base.
With its combination of new construction, long-term NNN leases, and strong market fundamentals, 40820 W 7 Mile Road represents a turnkey, low-maintenance investment positioned for steady cash flow and long-term appreciation in one of southeast Michigan’s most desirable submarkets.