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Grand Place Commons

Off-Market

40020 Grand River Avenue, Novi, MI 48375

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  • Property Type Office - Flex - Office
  • Property Size 39,396 SF
  • Lot Size 4.23 Acre
  • Parking Spaces Avail. 145
  • Parking Ratio 3.70 / 1,000 SF
  • Property Tenancy Multi-Tenant
  • Building Class C
  • Year Built 1998

Location

  • Walk Score ® Somewhat Walkable (55)
  • Bike Score ® Somewhat Bikeable (41)
Powered by Walk Score ®
  • City Novi, MI
  • Neighborhood Novi
  • Zip Code 48375
  • Market Detroit

Points of Interest

Sunoco

1.04 miles

2 stations

4.29 miles

Sunoco

4.81 miles

BP

5.32 miles

Mobil

5.51 miles

BP

6.02 miles

Shell

6.57 miles

Sunoco

7.10 miles

eVgo

7.92 miles

Livonia, MI Supercharger

8.71 miles

Lot 6

3.67 miles

Michigan Air Line Trailhead Parking Lot

4.89 miles

Parking Lot - Central Convent

6.27 miles

Parking Lot - South

6.60 miles

Real Green Systems

6.85 miles

OHM Advisors Parking Lot

7.98 miles

Huron River Fishing Site Parking

9.12 miles

bus parking

9.20 miles

Parking Lot A

9.76 miles

Parking Lot G

9.84 miles

Motel 6

0.92 miles

Motel 6

0.93 miles

Knights Inn Farmington Hill

1.36 miles

Four Points by Sheraton Detroit Novi

2.17 miles

Hampton

2.52 miles

TownePlace Suites Detroit Commerce

3.82 miles

Detroit Marriott Livonia

4.42 miles

Extended Stay America

4.73 miles

Park Motel of Farmington

4.89 miles

SpringHill Suites

5.11 miles

Tony Sacco's Coal Oven Pizza

1.49 miles

Lifestyle Cafés

1.84 miles

Red Lobster

2.04 miles

McDonald's

2.37 miles

Chili's

2.43 miles

Five Guys

2.55 miles

Leo's Coney Island

3.78 miles

Kabuki

4.54 miles

Red Robin

4.60 miles

Library Sports Pub & Grill

4.83 miles

South University

1.67 miles

CoinCoach

2.48 miles

Oakland Community College at Orchard Ridge

3.94 miles

Schoolcraft College

3.96 miles

Forest Elementary School

4.14 miles

School of Rock

4.51 miles

Madonna University

5.99 miles

Madonna University

6.43 miles

Ridge Wood Elementary School

6.68 miles

Oakley Park Elementary School

6.85 miles

KinderCare Learning Center

2.77 miles

Minto's Casa

3.80 miles

Tutor Time

4.34 miles

KinderCare

4.42 miles

Little Hearts Learning Home - Child Care and Pre-School

5.14 miles

Everbrook Academy of West Bloomfield

5.94 miles

Montessori Center of Our Lady

6.22 miles

Livonia Little Tots

6.47 miles

Lakes Area Montesorri

7.13 miles

Learning Tree

8.25 miles

Contacts

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Owner

  • True Owner

Brokers

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Documents

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Sales

  • Purchase Date 21 Nov, 2016
  • 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
CAM
$3.54/SF/YR
Insurance
$0.59/SF/YR
Taxes
$9.52/SF/YR
Utilities
$1.76/SF/YR
Management Fees
$1.3/SF/YR
Total Rent
$61/SF/YR
Unlock on CommercialEdge
Occupancy & Leasing Activity
Occupancy
83.5%
Lease Spread
-20.5%
Unlock on CommercialEdge

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
View more Novi market trends

Tax

  • Market Value* $2,630,740
  • Assessed Value $2,630,740

Find more tax info, including assessment history and abatements, on CommercialEdge

*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 Grand Place Commons?

Grand Place Commons totals 39,396 square feet.

When was this property built?

Grand Place Commons was built in 1998.

When was Grand Place Commons last sold?

Grand Place Commons was last sold on 21 Nov, 2016.

What is the market value for Grand Place Commons?

The market value* for Grand Place Commons in 2022 was $2,630,740.
*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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