23100 Providence Dr

89,748 SF 100% Leased Office Building Southfield, MI 48075 $1,900,000 ($21/SF)

INVESTMENT HIGHLIGHTS

  • Located in Southfield DDA District.
  • reat opportunity to redevelop into medical, multifamily, mixed-use, etc.
  • Close to Oakland Community College Southfield Campus.
  • 89,748 SF office building on a 3.69-acre site.
  • Across from Henry Ford Providence Southfield Hospital.
  • Near 100-acre, $285M Northland Cty Center Mixed-use Development.

EXECUTIVE SUMMARY

This is an excellent investment opportunity with significant financial upside potential through redevelopment. Current B-3 zoning and potential use flexibility from the City of Southfield should allow for various uses that will maximize the physical and financial potential of the property - including a medical facility, multi-family development, hotel, mixed-use development, etc. Surrounding this property, several new apartment buildings are up and pre-leased which will be the initial anchor for more new mixed-use products to come. The State of Michigan (through the Michigan Economic Development Corporation) has several tax incentive programs that will provide a developer financial assistance
for a re-development.

PROPERTY FACTS

Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Office
Building Size
89,748 SF
Building Class
C
Year Built/Renovated
1969/2000
Price
$1,900,000
Price Per SF
$21
Percent Leased
100%
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
22,437 SF
Slab To Slab
10’
Building FAR
0.52
Lot Size
3.93 AC
Zoning
OS
Parking
644 Spaces (7.18 Spaces per 1,000 SF Leased)

PROPERTY TAXES

  • Listing ID: 34049515

  • Date on Market: 12/2/2024

  • Last Updated:

  • Address: 23100 Providence Dr, Southfield, MI 48075