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24450 Evergreen Rd
Southfield, MI 48075
Evergreen Office Building · Office Property For Sale


Investment Highlights
- 33,600 SF Multi-Tenant Office Building on 1.80 Acres -adjacent 3.59-acre parcel is also for sale, providing expansion potential
- NOI of USD $272,388.15 | Attractive 8.01% CAP Rate
- A diverse mix of professional, medical, and service-oriented tenants provides income stability
- 88% Occupied: Strong In-Place Income with Upside Potential
- Recent capital improvements include a new roof in 2022 and high-efficiency HVAC system in 2025
- Strategically Located in Southfield’s Core Business Corridor
Executive Summary
A rare opportunity to acquire a 33,600 SF office property in the heart of Michigan’s premier business hub - stabilized income today with clear upside tomorrow.
Positioned in one of metro Detroit’s most established office corridors, the 33,600 SF multi-tenant office building at 24450 Evergreen Road presents a stabilized investment opportunity with meaningful upside. The property is 88% occupied by a diverse mix of professional, medical, and service-oriented tenants, generating strong in-place income with the ability to enhance returns through lease-up and strategic repositioning.
The asset has benefited from significant recent capital improvements totaling approximately $600,000, including a full roof replacement in 2022 and the installation of a high-efficiency HVAC system with air balancing and digital controls in 2025. These upgrades materially reduce near-term capital expenditure risk while improving operational efficiency and tenant comfort— key drivers of long-term occupancy and retention.
Situated on a 1.80-acre site, the building offers flexible suite configurations that appeal to a broad tenant base, supported by abundant natural light, efficient
layouts, and professional on-site management. In addition to the existing income stream, investors have the rare opportunity to acquire the adjacent 3.59-acre parcel, providing future expansion or redevelopment potential in a high-demand submarket.
Supported by over 147,000 daytime employees within a five-mile radius and immediate access to major thoroughfares, this offering combines stability, scalability, and long-term growth potential through lease-up and strategic repositioning.
Positioned in one of metro Detroit’s most established office corridors, the 33,600 SF multi-tenant office building at 24450 Evergreen Road presents a stabilized investment opportunity with meaningful upside. The property is 88% occupied by a diverse mix of professional, medical, and service-oriented tenants, generating strong in-place income with the ability to enhance returns through lease-up and strategic repositioning.
The asset has benefited from significant recent capital improvements totaling approximately $600,000, including a full roof replacement in 2022 and the installation of a high-efficiency HVAC system with air balancing and digital controls in 2025. These upgrades materially reduce near-term capital expenditure risk while improving operational efficiency and tenant comfort— key drivers of long-term occupancy and retention.
Situated on a 1.80-acre site, the building offers flexible suite configurations that appeal to a broad tenant base, supported by abundant natural light, efficient
layouts, and professional on-site management. In addition to the existing income stream, investors have the rare opportunity to acquire the adjacent 3.59-acre parcel, providing future expansion or redevelopment potential in a high-demand submarket.
Supported by over 147,000 daytime employees within a five-mile radius and immediate access to major thoroughfares, this offering combines stability, scalability, and long-term growth potential through lease-up and strategic repositioning.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
33,600 SF
Building Class
C
Year Built
1971
Price
$4,648,140 CAD
Price Per SF
$138.34 CAD
Cap Rate
8.01%
NOI
$372,316 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
24,000 SF
Building FAR
0.14
Lot Size
5.39 AC
Zoning
OS
Parking
188 Spaces (5.5 Spaces per 1,000 SF Leased)
Amenities
- Property Manager on Site
Property Taxes
| Parcel Number | 24-26-151-005 | Improvements Assessment | $575,125 CAD |
| Land Assessment | $187,922 CAD | Total Assessment | $763,047 CAD |
Property Taxes
Parcel Number
24-26-151-005
Land Assessment
$187,922 CAD
Improvements Assessment
$575,125 CAD
Total Assessment
$763,047 CAD
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