30020 Cabot Drive, Novi, MI

Property Type Office - General Office
Property Size 180,000 SF
Lot Size 11.68 Acre
Parking Spaces Avail. 198
Parking Ratio 1.10/ 1,000 SF
Property Tenancy Single Tenant
Building Class A
Year Built 2016

Location

Map
Street

City Novi, MI
Neighborhood Novi
Zip Code 48377
Market Detroit

Contacts

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Owner

True Owner

Tenants

Suite Name	Tenant	Leased Space	Rent Price	Lease Type	Space Type	Lease Term
370 17th Street #5500	MERRILL, (303) 446-5500	23,824 SF	$23/SF/YR	Modified Gross	General Office	11/01/2014- N/A
370 17th Street #6000	Morrison & Foerster, (303) 592-1500	10,710 SF	$26/SF/YR	Full Service	General Office	08/01/2013- 07/31/2023

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Documents

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Sales

Purchase Date 14 Apr, 2021
Purchase Price
Arm's Length True
Buyer Name

Mortgages

Current Lender
Loan Amount
Loan Origination Date
Loan Maturity Date

Market Trends

Average Actual Rents in Novi

Average rents use actual signed leases, aggregated for your specific search area and asset type with Yardi Market Insight. Be confident your price is competitive, with CommercialEdge.

Current Average Rent

Net Rent

$44.3/SF/YR

Recoverables Show detailsHide details

$16.7/SF/YR

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Occupancy & Leasing Activity

Occupancy

83.5%

Lease Spread

-20.5%

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Asking Rents in Novi Office Market

Office rental rates are based on aggregated data of asking rates.

2020 Avg. Asking Rent $23.25
2020 Office Vacancy Rate 14.25%
2020 Office Completions (SF) 269,869

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Tax

Market Value* $2,747,400
Assessed Value $2,747,400

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*The displayed market value represents the assessed value determined by the appropriate local tax/financial authority. It is not the property’s latest sale price or a current market value based on recent area sales.

Frequently Asked Questions

What is the total square footage of 30020 Cabot Drive?

30020 Cabot Drive totals 180,000 square feet.

When was this property built?

30020 Cabot Drive was built in 2016.

When was 30020 Cabot Drive last sold?

30020 Cabot Drive was last sold on 14 Apr, 2021.

What is the market value for 30020 Cabot Drive?

The market value* for 30020 Cabot Drive in 2021 was $2,747,400.
*This represents the market value determined by the appropriate local tax/financial authority, and not the latest sale price or current market value based on recent sales.

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