13650 8 Mile RdOak Park, MI 48237

For Sale
$330,000

Prime 8 Mile Rd location, high cap rate.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional 3,867 square foot executive office building, located at 13650 West Eight Mile Road in Oak Park, Michigan, presents a compelling investment opportunity. Built in 1957 and completely renovated in 2010, the property boasts a prime location on Eight Mile Road, ensuring high visibility and accessibility. The building is currently occupied by a single tenant under a five-year lease, commencing November 1, 2022, with built-in annual rent escalations. This single-tenant investment offers a strong 8.50% capitalization rate, minimizing landlord responsibilities. The property's strategic location near major freeways provides convenient access for employees and clients. The asking price is $330,000. The tenant has a history of seven years in the building, demonstrating stability and commitment. This is a rare opportunity to acquire a well-maintained, high-traffic, executive office building in a desirable location with a secure, long-term lease. The property's zip code is 48237, and it is situated in Oakland County.

Highlights

  • 8.5% Cap Rate, Single-Tenant Investment.
  • Long-term tenant (7-year history) with a new 5-year lease commencing November 1, 2022.
  • High-traffic location with prime frontage on Eight Mile Road.
  • Excellent access to major freeways.
  • High commercial visibility.
  • Annual rent escalations built into the lease.

Property Details for 13650 8 Mile Rd

Property type
Other office properties, Office properties
Square Feet
3,867 SF
Year Built/Renovated
1957/2010

Location Insight

City
Oak Park
County
Oakland
State
Michigan
Latitude
42.4457039
Longitude
-83.1819404
13650 8 Mile Rd, Oak Park, Michigan

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13650 8 Mile Rd
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