Oakland County · Novi
Sell Your Commercial Property In Novi, MI
Skyline Capital Investments buys commercial apartment buildings of 5+ units in Novi and across Oakland County — listed or off-market, stabilized or value-add. Get clear feedback on your deal, typically within 48 hours.
- Clear feedback on your deal, typically within 48 hours
- 5 to 100+ units, stabilized or distressed, listed or off-market
- Owners, agents, and brokers welcome — every conversation is confidential
We buy:Tired landlordsEstate & trust sales1031 exchangesDeferred maintenanceHigh vacancyPartnership splits
Areas We Target: Northville · Wixom · Walled Lake · Commerce Township — Oakland County, MI
The Novi Market
What Drives Rentals In Novi
Novi, Michigan is an Oakland County city of 66,717 residents whose Twelve Oaks Mall and the Grand River Avenue retail corridor anchor a commercial base that also includes automotive-technology offices and the Suburban Collection Showplace exhibition hall. Renters hold 33.7% of Novi's 26,801 occupied homes, ACS 2020–2024, and median household income reaches $110,723, well above Oakland County's $97,760 median. Owners who plan to sell commercial property in Novi, MI should start with this income-anchored, mall-driven market before pricing a building.
Twelve Oaks Mall
Twelve Oaks Mall anchors Novi with more than 170 stores and restaurants, per Simon Property Group's mall page.Suburban Collection Showplace
The Suburban Collection Showplace offers 305,000 square feet of exhibit space across three halls, per its official site.Autoneum North America HQ
Autoneum's North American headquarters in Novi covers 84,000 square feet and employs 175 people, per the company's own announcement.Our Buy Box
What We Buy In Novi
Asset Type
Multifamily, 5+ Units
Apartment buildings and income-producing residential.
Size
5 – 100+ Units
Sweet spot: 15–25 units.
Condition
Stabilized To Distressed
Value-add, mismanaged, and high-vacancy properties welcome.
Deal Types
Listed Or Off-Market
Direct-to-owner, pocket listings, portfolios.
Local Market Data
Novi Apartment Market
Figures gathered October 2026 from public market data.
Who rents in Novi
Renters hold 33.7% of Novi's 26,801 occupied homes, or 9,043 households, ACS 2020–2024, below Oakland County's 27.3% renter share but still a base worth weighing before deciding to sell commercial property in Novi, MI. Just 22.7% of Novi's 28,351 housing units sit in buildings of five or more units, versus Oakland County's 14.9% share, and 26.5% of units predate 1980, with a median year built of 1993.
Rents and affordability in Novi
Novi's median gross rent is $1,747 a month, ACS 2020–2024, above Oakland County's $1,376 and well above Michigan's $1,129 statewide median. Median household income in Novi is $110,723, and 36.0% of Novi renters pay 30% or more of income on housing. Owners weighing whether to sell commercial real estate in Novi, MI should compare these figures against HUD's rents below.
| Unit size | HUD FY2027 FMR |
|---|---|
| Efficiency | $1,047 |
| 1 bedroom | $1,167 |
| 2 bedroom | $1,459 |
| 3 bedroom | $1,777 |
| 4 bedroom | $1,929 |
Property taxes in Oakland County
Novi's 2025 non-homestead rate is 53.1274 mills in the Novi Community Schools tax code, per Oakland County's 2024 Apportionment Report and the city's own May 2025 resolution, which keeps the city's 10.5376-mill portion unchanged. MCL 211.27a uncaps taxable value to 50% of true cash value at a sale, so a $2,000,000 Novi apartment sale would land near a $1,000,000 taxable value and about $53,127 a year in property tax. Transfer tax runs $4.30 per $500 of value, about $17,200 on that sale.
Landlord rules in Novi
Michigan caps security deposits at 1.5 times monthly rent under MCL 554.602, and landlords must return deposits or itemize damages within 30 days under MCL 554.609. Nonpayment notices need 7 days under MCL 554.134, and month-to-month tenancies end on one month's notice under the same law. State law bars local rent control under MCL 123.411, so Novi sets no rent caps of its own.
What this means for a Novi owner
Novi pairs Twelve Oaks Mall's 170-plus stores and restaurants with Autoneum's 84,000-square-foot North American headquarters and the Suburban Collection Showplace's 305,000 square feet of exhibit space, a retail, automotive-technology and hospitality base unlike most Oakland County suburbs. An owner ready to sell commercial property in Novi, MI should price the city's 53.1274-mill tax reset before they sell your apartment building in Novi. Our cap rate calculator and seller page explain how we underwrite Novi buildings.
Seller Notes
What Shapes A Novi Offer
More about selling in Michigan →Investing in Novi? See apartment syndications in Novi →
- Novi's 2025 non-homestead rate is 53.1274 mills, per Oakland County's apportionment report and the city's own resolution.
- Michigan law preempts rent control, so Novi leases follow statewide landlord-tenant statutes instead of a city ordinance.
- Owners should model Novi's tax reset before they sell commercial real estate in Novi, MI.
Seller Guides
Your Situation, Handled — Novi
Learn More
Taxes & Rules For Novi Property
The Michigan rules that shape any deal in Novi: what a sale costs in tax, how buildings are taxed, what landlords must follow, and how to defer gains.
Novi Seller FAQ
Is now a good time to sell commercial property in Novi, MI?
Novi's 33.7% renter share and $1,747 median gross rent, ACS 2020-2024, point to steady renter demand, and Twelve Oaks Mall keeps the retail base strong. Owners weighing whether to sell multifamily property in Novi should still price the tax reset first.
What should I know before I sell commercial real estate in Novi, MI?
Novi's 22.7% share of housing in 5+ unit buildings sits above Oakland County's 14.9% baseline, and the city's 53.1274-mill rate resets at closing under MCL 211.27a. Our cap rate calculator and seller page model both before an owner lists a building.
What is the average rent in Novi, Michigan?
Census ACS 2020-2024 estimates put Novi's median gross rent at $1,747 a month, above Michigan's $1,129 statewide median. HUD's FY2027 fair market rents here run from $1,047 for an efficiency to $1,459 for a two-bedroom unit.
What is the property tax rate on apartment buildings in Novi, MI?
Novi's 2025 non-homestead rate is 53.1274 mills in the Novi Community Schools tax code. Taxable value resets to 50% of true cash value at a sale, so a $2,000,000 building would owe about $53,127 a year in property tax.
Does Novi, Michigan have rent control?
No. Michigan's MCL 123.411 bars local governments from enacting rent control. Novi leases, deposits and eviction notices instead follow statewide landlord-tenant law under MCL 554.602, 554.609 and 554.134, worth knowing before selling commercial property in Novi changes hands.
Do I need to fix up my Novi building before selling?
No. We price in deferred maintenance, vacancy, and below-market rents ourselves, so you can sell the property as it stands.
Can I sell my Novi apartment building off-market?
Yes. We work directly with owners and through listing agents. Off-market conversations are confidential, and we coordinate tours so tenants and staff are not disrupted.
Is it possible to sell rental property in Novi without evicting tenants?
It is. We buy apartment buildings occupied, and tenants stay on their current leases. Skyline Capital Investments is a commercial real estate buyer of 5+ unit buildings, so occupied properties are the norm for us.
What do I need to sell my apartment building in Novi?
An address and unit count are enough to start. A current rent roll and trailing twelve-month statement let us move to a written offer faster.
Submit A Deal
Selling A Building In Novi?
Send the address, unit count, and asking price if you have one. We keep every conversation confidential.
