Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Versatile Commercial Property in Livonia Title is generated by Realmo AI

    28980 Joy Road, Livonia, MI 48150

    View on Map
    Claim this Listing
    For Sale
    $1,250,000

    Real Estate Only - Livonia, MI

    Property size:
    11,800 SF
    Lot size:
    2.27 Acres
    Price / SF:
    $105/SF
    Added:
    Mar 25, 2026
    Days on Market:
    54
    Last Refresh:
    May 17 at 12:06 am

    Property Features for 28980 Joy Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial,Office
    Exterior features
    Garage
    Standard status
    Active
    APN
    46143010054000
    Size
    11,800 SF
    Lot size
    2.27 Acres

    Taxes and HOA fees

    Tax Annual Amount
    8339

    Building Details

    Year built
    1987
    Building materials
    Block
    Roof type
    Asphalt
    Architectural style
    Other
    Additional Structures
    Garage(s)

    We can help!

    Listing Contact
    Ali M Abdallah
    Ali M Abdallah

    Listing agent Ali M Abdallah

    Listing office RE/MAX Leading Edge 25050 Ford Road, Dearborn Heights, MI

    Listing date Mar 25, 2026

    MLS# 20261019356 Listing URL

    Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Nearly 11,000 sq ft of customizable commercial space.
    • Strategically located near Livonia, Dearborn Heights, Westland, and Redford.
    • Approximately 60 parking spaces with room for expansion.
    • Spacious warehouse for storage, operations, or distribution.
    • Freshly painted office area with two full bathrooms.
    • 3 new HVAC units for the office and 2 for the warehouse.

    Overview

    This versatile commercial property offers nearly 11,000 square feet of customizable space, suitable for a wide range of business uses. The property is strategically located near the intersection of Livonia, Dearborn Heights, Westland, and Redford, providing accessibility and visibility. The property features a freshly painted office area, complete with two full bathrooms, along with a spacious warehouse suitable for storage, operations, or distribution. The lot size is 2.27 acres and includes approximately 60 existing parking spaces, with room for expansion. Comfort and efficiency are provided by 3 new HVAC units servicing the office area and 2 additional HVAC units dedicated to the warehouse. The property is located in Livonia, Michigan, with a zoning designation of Commercial and Office.

    Financial Insights

    Value Estimation Calculated for Flex RnD

    Conservative
    $827.3K
    NOI $74,453 @ 9.00% cap · cautious / downside scenario
    Moderate
    $1.06M
    NOI $74,453 @ 7.00% cap · market / base-case scenario
    Aggressive
    $1.49M
    NOI $74,453 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.
         Calculated for Flex RnD

    Component $ $/SF
    Gross rent $118.9k $10.08
    − Vacancy −$4.4k −$0.37
    EGI $114.5k $9.71
    − OpEx −$40.1k −$3.40
    NOI $74.5k $6.31
    11,800 SF · lease $10.08/SF/yr · vacancy 3.70% · expense 35.00%

    Alternative Use Scenarios

    Best Use
    Flex RnD
    $1.06M
    $930.7K – $1.24M (±1% cap)
    NOI $74,453 @ 7.0% cap · market cap 5.96%
    Second Best
    Warehouse
    $1.06M
    $927.3K – $1.24M (±1% cap)
    NOI $74,180 @ 7.0% cap · market cap 5.93%
    Theoretical Best
    Specialty Retail
    $2.18M
    $1.91M – $2.55M (±1% cap)
    NOI $152,928 @ 7.0% cap · market cap 12.23%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Pranam GlobalTech, Inc. Construction Company

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Livonia
    County
    Wayne
    State
    Michigan
    Longitude
    -83.3280612
    Latitude
    42.3554046

    Nearby Similar for Sale

    • $1,500,000
      3,620 SF

      Livonia Commercial Building for Sale

      Turnkey commercial building in prime Livonia location.
      30737 7 Mile Road, Livonia, MI 48152
      View Details
    • $399,000
      3,000 SF

      Freestanding Retail Building on Middlebelt

      3,000 SF commercial building with prime frontage and open layout.
      15282 Middlebelt Rd, Livonia, MI 48154
      View Details
    • $339,000
      3,300 SF

      Commercial Building on Middlebelt Road

      3,300 SF commercial building with high traffic and parking.
      15210 Middlebelt Rd, Livonia, MI 48154
      View Details
    • $525,000
      2,761 SF

      Downtown Livonia Medical Office Building

      2,761 sq ft medical office building in downtown Livonia.
      15357 Farmington Rd, Livonia, MI 48154
      View Details
    • $1,986,500
      13,905 SF

      Established Walgreens Location for Sale

      Long-term Walgreens with low rent in a dense retail area.
      29200 Six Mile Rd, Livonia, MI, 48152
      View Details
    • $1,500,000

      Turnkey Medical Office For Sale

      Recently renovated medical office in prime location, ready for business.
      30737 7 Mile Rd, Livonia, MI 48152
      View Details
    • $950,000
      20,000 SF

      Livonia Commercial Property For Sale

      Commercial property with banquet hall, bar, and restaurant.
      31117 PLYMOUTH Road, Livonia, MI 48150
      View Details
    • $1,516,666
      11,440 SF

      Freestanding Store with New Lease

      Freestanding store with a new 10-year double net lease.
      27401 W. 6 Mile Road | Livonia, MI 48152
      View Details
    • $500,000
      8,875 SF

      Livonia Activity Hall with Parking

      Large hall with remodeled kitchen and ample parking.
      27531 GRAND RIVER Street, Livonia City, MI 48152
      View Details
    • $16
      19,210 SF

      Renovated Office/Medical Building For Sale

      Renovated office/medical building with direct suite entrances and tenant-controlled HVAC.
      34441 W 8 Mile Rd, Livonia, MI 48152
      View Details
    • $369,000
      3,584 SF

      Freestanding Building on Plymouth Road

      3,584 SF building with C-2 zoning and main road exposure.
      29175 Plymouth Rd, Livonia, MI 48150
      View Details
    • Contact for pricing
      57,007 SF

      Flex Building in Tech Park

      Flex building with office, lab, and tech space available.
      12075 Tech Center Dr, Livonia, MI 48150
      View Details

    FAQs

    What type of property is this?
    Flex space - Customizable commercial space with warehouse and ample parking.
    Where is this flex space located?
    The property is located at 28980 Joy Road Livonia, MI.
    What is the asking price?
    The asking price for this property is $1,250,000.
    What are key features of this property?
    This property features: Nearly 11,000 sq ft of customizable commercial space.; Strategically located near Livonia, Dearborn Heights, Westland, and Redford.; Approximately 60 parking spaces with room for expansion.
    (313) 721-1217
    We can help!
    Listing Contact
    Ali M Abdallah
    Ali M Abdallah
    Real Estate License ID: 6502342204
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    28980 Joy Road, Livonia, MI 48150
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!