23100 Providence Dr
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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.
for a re-development.
Property Facts
Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Office
Property Subtype
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
Land Acres
3.93 AC
Zoning
OS
Parking
644 Spaces (7.18 Spaces per 1,000 SF Leased)
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PROPERTY TAXES
| Parcel Number | 24-25-476-085 | Improvements Assessment | $394,500 |
| Land Assessment | $231,460 | Total Assessment | $625,960 |
PROPERTY TAXES
Parcel Number
24-25-476-085
Land Assessment
$231,460
Improvements Assessment
$394,500
Total Assessment
$625,960
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Matt Schiffman -
Mike Gunn -
P.A. Commercial, LLC
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23100 Providence Dr
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