Southfield, Michigan, offers a unique investment opportunity in Multi-Family Properties, with a diverse range of options available for purchase. With a population of approximately 80,000 residents, Southfield provides a stable and growing market for multi-family investments. Multi-Family Properties in Southfield can represent a variety of investment types, including apartment complexes, condominiums, and townhouses. These properties offer a range of amenities, including proximity to major employers, educational institutions, and recreational facilities. For example, Lawrence Technological University and Oakland Community College are both located in Southfield, providing a steady stream of potential tenants. The city's infrastructure, including the Southfield City Centre and the area around the former Northland Center shopping mall, also offers a range of amenities and services for residents. Additionally, Southfield's location, approximately 15 miles northwest of downtown Detroit, provides easy access to major transportation hubs and employment centers.
Currently, there are 1 Multi-Family Properties available for sale in Southfield, offering a range of options for investors. The average price per square foot for these properties is $70 USD, with an average size of 38,753 square feet. The largest property available is 50,198 square feet. In addition to Multi-Family Properties, Southfield also offers a range of other property types, including Retail Space, with options available along major commercial corridors like Telegraph Road and 12 Mile Road. Shopping Centers, such as the Southfield City Centre, offer a range of retail and dining options. Residential Income Homes, including single-family homes and condominiums, are also available throughout the city. Office Properties, including those in the Southfield City Centre, offer a range of options for businesses and entrepreneurs. Overall, Southfield provides a diverse and growing market for real estate investments, with a range of options available to suit different needs and goals.
What is the average cap rate for multi-family properties in the Southfield market?
Investors seeking multi-family properties in Southfield, Michigan, can expect an average cap rate of , which is a key metric to consider when evaluating potential investments. To better understand the significance of cap rate, it's essential to know what is a cap rate and how it impacts your investment decisions, especially in a market with 1 available listings of multi-family properties.
What should I know about financing options for buying an apartment building in Southfield?
When considering financing options for buying an apartment building in Southfield, it's essential to understand the local market and available financing options, including CRE loans, which can provide the necessary funds to secure your investment.
- With 1 available listings of multi-family properties in Southfield, you'll want to research and compare financing options to find the best fit for your investment goals, considering factors such as average price per square foot ($70 USD), average size in square feet (38,753 square feet), and average cap rate ().
- Southfield's strong commercial and business sectors, with over 27,000,000 square feet of office space and numerous Fortune 500 companies, can provide a stable source of rental income, making it an attractive location for apartment building investors.
- For more information on CRE loans and commercial real estate financing, check out our article at commercial real estate loans, which provides valuable insights and guidance on navigating the financing process.
