Troy, Michigan, is an attractive destination for investors seeking to acquire office properties for sale. With a strong business presence, particularly in the automotive and financial sectors, Troy offers a stable and diverse economy. Office properties in Troy can represent a range of investments, from single-tenant buildings to multi-tenant complexes, each with its unique benefits and opportunities. The city's infrastructure, including Oakland-Troy Airport and Interstate 75, provides easy access to major transportation routes, making it an ideal location for businesses. Additionally, Troy's highly educated population, with institutions like Walsh College and University of Phoenix, and its many amenities, such as the Troy Historic Village and Somerset Collection mall, create a desirable environment for companies to operate and grow.
With 17 office properties for sale in Troy, investors have a wide range of options to choose from. The average price per square foot is $214 USD, and the average size of these properties is 45,885 square feet, with the largest property spanning 134,899 square feet. Troy's office properties also offer a competitive average cap rate of 6.97%. In addition to office properties, Troy also offers a range of other commercial real estate options, including commercial buildings, apartment buildings, shopping centers, and hotels. The city's diverse economy and strong infrastructure make it an attractive location for businesses and investors alike, with companies like Altair Engineering, Behr America, and Flagstar Bank already calling Troy home.
What is the average price per square foot for office properties in Troy?
The average price per square foot for office properties in Troy is $214 USD.
What should I know about office property classifications (Class A, B, C)?
When searching for office properties for sale in Troy, it's essential to understand the different classifications, which can impact the property's value, amenities, and overall appeal to tenants.
- Class A office properties are typically high-rise buildings with top-notch amenities, modern infrastructure, and prime locations, often attracting high-end tenants and commanding higher rental rates.
- Class B office properties offer functional space with standard amenities, suitable for a wide range of businesses, and are often priced lower than Class A properties.
- Class C office properties are typically older buildings with limited amenities, often requiring renovation or updating, and are generally the most affordable option.
