Freestanding Retail Building on
For Sale
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15282 Middlebelt Road, Livonia, MI 48154
3,000 SF commercial building with frontage on Middlebelt Road.
Property Size3,000 SF
Price / SF$133
Days on Market181
Property Features for 15282 Middlebelt Road
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Special Purpose
Building Details
Year Built
1961
Listing Agency:
CENTURY 21 Curran & Oberski Dearborn Heights
(248) 795-3061
Listed By:
Fadi Jarrous · License #MI
Source:
Crexi
Added: Feb 12
Changed: Aug 8
Last Checked: Aug 8 at 6:34AM
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 CENTURY 21 Curran & Oberski Dearborn Heights
Investment Insights
Based on property information with market context.
This is a 3,000 square foot freestanding commercial building located on Middlebelt Road in Livonia. Previously used as a bakery, the interior is wide-open and fully cleared out, ready for build-out to suit a variety of uses. The solid structure offers great visibility, ample parking, and flexible layout options. It is ideal for retail or specialty use. Immediate occupancy is available.
Key Highlights
- Prime Middlebelt Rd frontage in Livonia
- Freestanding 3,000 sq ft commercial building
- Wide‑open interior, fully cleared out, ready for build‑out
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,426
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.12%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$568,520
$568.5K
Cap Rate 7%
$406,086
$406.1K
Cap Rate 9%
$315,844
$315.8K
Market Conditions
NOI Build-Up for 3,000 SF
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.
Gross rent
$43.2K $14.40/SF
− Vacancy
−$2.6K −$0.86/SF
EGI
$40.6K $13.54/SF
− OpEx
−$12.2K −$4.06/SF
NOI
$28.4K $9.48/SF
Area
Wayne County, MI
Vacancy
6.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$568,520
Cap Rate 7%
$406,086
Cap Rate 9%
$315,844
Alternative Uses
Best Use
Retail
$406.1K
$355.3K – $473.8K
NOI $28,426 @ 7.0% cap · market cap 7.12%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$555.4K
$486.0K – $648.0K
NOI $38,880 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
406
Businesses Nearby
112k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 66%
Shops & Services 26%
Home Improvements & Furnishings 8%
McDonald's
Dining
26,426 visits/mo
0.2 miles
Taco Bell
Dining
16,165 visits/mo
0.1 miles
Mobil
Shops & Services
14,794 visits/mo
0.1 miles
Burger King
Dining
11,620 visits/mo
0.2 miles
Los Tres Amigos
Dining
9,831 visits/mo
0.1 miles
Demographics for 48154, MI
37,864
Population
15,330
Households
2.5
Avg Household Size
47
Median Age
44%
College-Educated
95%
High-School Grad
11.6 sq mi
ZIP Area
3,264
Density / Sq Mi
$103,763
Median Household Income
$59,017
Median Earnings
$1,197
Median Rent
$285,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 3,000 SF commercial building with frontage on Middlebelt Road.
Where is this retail space located?
The property is located at 15282 Middlebelt Road Livonia, MI.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Prime Middlebelt Rd frontage in Livonia; Freestanding 3,000 sq ft commercial building; Wide‑open interior, fully cleared out, ready for build‑out
