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    High-Visibility Retail Investment Opportunity Title is generated by Realmo AI

    31507 Plymouth Rd, Livonia, MI 48150

    View on Map
    For Sale
    $99,000

    INVESTMENT OPPORTUNITY – HIGH-VISIBILITY RETAIL SPACE!

    Property size:
    1,980 SF
    Lot size:
    0.05 Acres
    Price / SF:
    $50/SF
    Added:
    Jan 13, 2025
    Days on Market:
    503
    Last Refresh:
    Mar 16 at 9:06 am

    Property Features for 31507 Plymouth Rd

    General Information

    Standard status
    Active
    Property type
    Other retail properties, Individual retail properties, Other office properties, Retail properties & Spaces, Office Spaces
    Size
    1,980 SF
    Class
    C
    Elevators
    N/A
    Lot size
    0.05 Acres
    Investment Type
    Owner User

    Building Details

    Year Built
    1928
    Buildings
    1
    Stories
    1

    We can help!

    Listing Contact
    Jonathan Farida

    Listing agent Jonathan License #6501432091

    Listing office Community Choice Realty Inc

    Listing date Jan 13, 2025

    HighLights

    • Property Type: Commercial
    • Sub Type: Real Estate Only
    • Listing Status: Active
    • County/Area: Wayne County
    • Zip Code: 48150
    • Year Built: 1928
    • Subdivision/Neighborhood: Rosedale Gardens No 1
    • School District: Livonia
    • Sq.Ft.: 1,980 sq ft
    • Stories: 1 Story
    • Lot Size: 2178 sq ft lot
    • Zoning: Commercial, Office
    • Above Grade Finished Area: 1980
    • Building Area Source: Prior Listing
    • Building Area Total: 1500
    • Construction Materials: Block, Vinyl Siding
    • Cross Street: Plymouth Road; West of Merriman
    • Current Search Price: 99000
    • Directions: Plymouth Road; West of Merriman
    • Land Contract Down Payment Amount: 60000
    • Land Contract Interest Rate: 11
    • Land Contract Monthly Payment: 2000
    • Land Contract Term: 60
    • Levels: One
    • Listing Service Offered: Accept Present Offers, Adviseon Offers, Arrange Appointments, Assistwith Counteroffers, Negotiatefor Seller
    • Listing Terms: Cash, Contract, Conventional
    • Lot Size Area: 0.05
    • Lot Size Units: Acres
    • Main Type: Commercial Sale
    • Originating System Name Lookup: Realcomp II Ltd
    • Parcel Number: 46133010015000
    • Possession: At Close
    • Protection Period: 180
    • Road Frontage Feet: 20
    • Road Frontage Type: Paved
    • Settlement: City
    • Sewer: Public Sewer
    • Source System Name Lookup: Realcomp II Ltd
    • Special Listing Conditions: Short Sale No, Standard
    • State Equalized Value: 61000
    • Tax Amount Summer: 1330
    • Tax Amount Winter: 1067
    • Tax Annual Amount: 2397
    • Tax Assessed Value: 40043
    • Tax Other Annual Assessment Amount: 11
    • Tour URL Update Date: 2025‑01‑11T12:44:54.98‑05:00
    • Water Source: Public

    Overview

    This 1,980 sq ft retail building, constructed in 1928, is located on Plymouth Road, west of Merriman, in Livonia. Situated in the Rosedale Gardens No 1 subdivision, the property benefits from high visibility, with over 20,000 vehicles passing daily. The building, featuring block and vinyl siding construction, is zoned for commercial and office use. The structure is a single-story layout. The lot size is 2,178 sq ft. Public sewer and water sources serve the property. The roof requires replacement due to a hole. The property is located in a city settlement. The road frontage is 20 feet of paved road. The property's parcel number is 46133010015000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail properties & Spaces

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Livonia
    County
    Wayne
    State
    Michigan
    Longitude
    -83.353999
    Latitude
    42.368365

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    FAQs

    What type of property is this?
    Other retail property - INVESTMENT OPPORTUNITY – HIGH-VISIBILITY RETAIL SPACE!
    Where is this other retail property located?
    The property is located at 31507 Plymouth Rd Livonia, MI.
    What is the asking price?
    The asking price for this property is $99,000.
    What are key features of this property?
    This property features: Property Type: Commercial; Sub Type: Real Estate Only; Listing Status: Active
    (248) 225-5994
    We can help!
    Listing Contact
    Jonathan Farida
    Real Estate License ID: 6501432091
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    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.

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