Freestanding Retail
New
For Sale
$399,000
15282 Middlebelt Road, Livonia, MI 48154
Open interior supports a new build-out for retail or specialty commercial use.
Property Size3,000 SF
Price / SF$133
Days on Market2
Property Features for 15282 Middlebelt Road
General Information
Standard status
Active
Size
3,000 SF
Building Details
Buildings
1
Listing Agency:
Century 21 Curran & Oberski
(313) 274-7200
Listed By:
Fadi Jarrous
(248) 795-3061
Source:
Brendaharrisgroup
Added: Sep 6
Last Checked: Sep 6 at 2:56PM
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
Investment Insights
Based on property information with market context.
This freestanding retail property at 15282 Middlebelt Road includes a 3,000-square-foot commercial building with an open interior that has been cleared for a new build-out. The space was previously used as a bakery and offers a flexible starting point for retail or specialty commercial occupancy.
The property has frontage on Middlebelt Road in Livonia, along with on-site parking and immediate occupancy availability. Its existing configuration allows a future occupant to plan the interior around its intended operation rather than adapting to an established layout.
The property has frontage on Middlebelt Road in Livonia, along with on-site parking and immediate occupancy availability. Its existing configuration allows a future occupant to plan the interior around its intended operation rather than adapting to an established layout.
Key Highlights
- 3,000‑square‑foot freestanding commercial building
- Middlebelt Road frontage in Livonia
- Interior cleared and 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 - Open interior supports a new build-out for retail or specialty commercial use.
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: 3,000‑square‑foot freestanding commercial building; Middlebelt Road frontage in Livonia; Interior cleared and ready for build‑out
