Downtown Livonia Medical Office
15357 Farmington Rd Livonia, MI 48154
For Sale
$525,000
2,761 sq ft medical office building in downtown Livonia.
Property Size2,761 SF
Price / SF$190.15
Days on Market97
Property Features for 15357 Farmington Rd
General Information
Standard status
Active
Size
2,761 SF
Property subtype
Commercial
Building Details
Year Built
1954
Listing Agency:
Van Esley Real Estate Inc
(734) 459-7570
Listed By:
David D Misko · License #6501351778
(734) 459-7570
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 28 at 1:54PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Van Esley Real Estate Inc
Investment Insights
Based on property information with market context.
Located in the heart of Downtown Livonia, this 2,761 sq ft building is for sale. Currently used as a medical office, it features two units with separate utilities. The property includes 16 parking spots and is zoned C-2. The south unit was previously used as a dental office, and the underground lines are still in place. The location has a walk score of 19, indicating it is car-dependent, and a bike score of 31, meaning it is somewhat bikeable. Land contract terms are possible. The property is suitable for commercial real estate and office space.
Key Highlights
- Prime "Downtown Livonia" location.
- 2,761 sq ft building with 2 separate units.
- Zoned C‑2 for commercial use.
Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $55.3k | $20.04 |
| − Vacancy | −$6.9k | −$2.49 |
| EGI | $48.5k | $17.55 |
| − OpEx | −$19.4k | −$7.02 |
| NOI | $29.1k | $10.53 |
2,761 SF · lease $20.04/SF/yr · vacancy 12.42% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$415.4K
$363.4K – $484.6K
NOI $29,075 @ 7.0% cap · market cap 5.54%
Second Best
Office B
$135.8K
$118.8K – $158.4K
NOI $9,505 @ 7.0% cap · market cap 1.81%
Theoretical Best
Specialty Retail
$511.2K
$447.3K – $596.4K
NOI $35,783 @ 7.0% cap · market cap 6.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Medical Office Space - 2,761 sq ft medical office building in downtown Livonia.
Where is this medical office space located?
The property is located at 15357 Farmington Rd Livonia, MI.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Prime "Downtown Livonia" location.; 2,761 sq ft building with 2 separate units.; Zoned C‑2 for commercial use.
