Two-Building Office Complex Value Add 2 Office Properties Offered at $2,750,000 in Farmington Hills, MI

INVESTMENT HIGHLIGHTS

  • Two office buildings totaling 63,807 SF - Priced at only $43.10 per SF
  • Fantastic location in between 12 Mile Rd and I-696
  • New boilers in both buildings, new air conditioning units, and new furnaces
  • Value-add opportunity: 60% occupied
  • Walking distance from many restaurants and amenities
  • 2.42 acre site with abundant parking

EXECUTIVE SUMMARY

Quakertown Plaza is an excellent value-add investment opportunity consisting of two (2) three story office buildings totaling 63,807 SF. Importantly, these buildings are priced at less than 25% of replacement value. This offering is suitable for investors seeking undervalued office product in a high quality area or a user needing 10,000+ SF. Additionally, these buildings offer an opportunity to re-position and create a new identity on 12 Mile Rd.
Current tenants currently occupy 60% of the office spaces providing an excellent opportunity for a new owner to re-brand and occupy a significant amount of space. Current ownership has recently upgraded the heating/cooling system and other cosmetic improvements to the office complex.
The property is ideally situated just off W 12 Mile Rd, east of Farmington Rd in Farmington Hills, a high-traffic office corridor with easy access to I-696. The Quakertown Plaza buildings, priced as a value alternative, offer potential for upgrades or repositioning.
Adjacent to Level One Bank Headquarters, Residence Inn by Marriott, and Courtyard by Marriott, the property is also within walking distance of various restaurants and local amenities.
For buyers seeking their own office building, this location provides excellent visibility on 12 Mile Road and access to a shared monument sign at the signaled boulevard entrance.

PROPERTY FACTS

Price $2,750,000
Price / SF $49.79 / SF
Cap Rate 3.54%
Sale Type Investment
Status Active
Number of Properties 2
Individually For Sale 0
Total Building Size 55,227 SF
Total Land Area 4.84 AC

PROPERTIES

PROPERTY NAME / ADDRESS PROPERTY TYPE SIZE YEAR BUILT INDIVIDUAL PRICE
Quakertown Plaza I
32969 Hamilton Ct, Farmington Hills, MI 48334
Office 25,227 SF 1975 -
Quakertown Plaza II
32985 Hamilton Ct, Farmington Hills, MI 48334
Office 30,000 SF 1975 -
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  • Listing ID: 33271787

  • Date on Market: 9/23/2024

  • Last Updated:

  • Address: Two-Building Office Complex Value Add, Farmington Hills, MI