Southfield Office is a two story, ±13,770 SF office building located at 24209 Northwestern Highway in Southfield, Michigan. Built in 1972 and renovated in 2000, the Property is ±53% occupied, providing for a significant value-add opportunity buoyed by a stream of cash flow.
24209 Northwestern Highway has flexible lease terms, making it an ideal purchase for either an owner/user looking to occupy the building, or a value-add investor seeking to reposition the asset. Additionally, the second floor of the building can also be configured to suit a single tenant, if desired. The Property's Northwestern Highway frontage allows for superb signage visibility along M-10, one of Metro-Detroit's highest traffic thoroughfares (±128,000 VPD). In 2011, the Property's front entryway was renovated, adding both floor-to-ceiling glass doors and a marble walkway. 24209 Northwestern Highway is also outfitted with high-speed fiber cabling and a high-end security system, inclusive of keypad access and camera monitoring. Situated on ±0.86 AC, the building offers abundant parking with 61 free surface spaces equating to a ratio of 4.42 spaces per 1,000 square feet.
The Property offers both tenants and users a central location within the Southfield submarket. A Southfield address will allow occupants the ability to situate themselves within one of Metro-Detroit’s most desirable business environments as it relates to both size and employer base. The location delivers premiere access to Metro Detroit’s corporate network, with numerous Fortune 500 companies having a major presence within the submarket. Located just south of 10 Mile Road and 1-696 on Northwestern Highway (M-10), 24209 Northwestern Highway also provides convenient access to Metro-Detroit's extensive highway infrastructure. The location is centrally positioned within the greater region providing short travel times to other strong area submarkets such as Royal Oak, Birmingham, Troy, Auburn Hills, Rochester Hills, Bloomfield Township, and West Bloomfield Township. Tenants situated in Southfield can additionally capitalize on ready access to an educated and skilled workforce, with easy commutes from Metro-Detroit’s most densely populated communities. Additionally, the Property has approximately ±335,529 individuals residing within a five-mile radius of the property and an average HH income of ±$69,002. according to recent demographic studies, ±54% of households within 1 mile of the Property choose to rent versus own.
24209 Northwestern Highway offers investors an excellent opportunity to acquire an office building positioned within one of Metro-Detroit’s most desirable submarkets with significant value add through lease up and market rate increases.
TenX RE, Inc. Lee Leslie RE Brkr 6502410347