Shopping Center with Available
For Sale
$4,000,000
18400 Livernois Avenue, Detroit, MI 48221
Fresenius Kidney Care occupies the property, alongside commercial space available for lease-up.
Property Size15,390 SF
Price / SF$259.91
Days on Market72
Property Features for 18400 Livernois Avenue
General Information
Standard status
Active
Size
15,390 SF
Property subtype
Commercial
Zoning
Commercial
Site & Location
Neighborhood
University District
Anchor Co-Tenants
Fresenius Kidney Care
Additional Details
Asking Price
$4,000,000
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$49,382
Building Details
Building Size
15,390 SF
Year Built
1996
Listing Agency:
RE/MAX Dream Properties
Listed By:
Glen L Brown · License #6501272277
(734) 462-3600
Source:
Carterassociatesrealty
Added: Aug 14
Changed: Oct 23
Last Checked: Oct 23 at 3:33PM
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 RE/MAX Dream Properties
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This Detroit shopping center dates to 1996 and has Fresenius Kidney Care as its primary tenant. Up to approximately 6,000 SF of commercial space is vacant, with the property zoned Commercial.
The property is on Livernois Avenue between Puritan Avenue and Eight Mile Road, serving northwest Detroit and the surrounding University District, Palmer Woods, and Sherwood Forest neighborhoods.
The property is on Livernois Avenue between Puritan Avenue and Eight Mile Road, serving northwest Detroit and the surrounding University District, Palmer Woods, and Sherwood Forest neighborhoods.
Key Highlights
- Fresenius Kidney Care is the property’s primary tenant
- Up to approximately 6,000 SF of vacant commercial space
- Built in 1996
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$189,557
Cap Rate
4.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,791,140
$3.8M
Cap Rate 7%
$2,707,957
$2.7M
Cap Rate 9%
$2,106,189
$2.1M
Market Conditions
NOI Build-Up for 15,390 SF
Gross rent
$286.3K $18.60/SF
− Vacancy
−$15.5K −$1.00/SF
EGI
$270.8K $17.60/SF
− OpEx
−$81.2K −$5.28/SF
NOI
$189.6K $12.32/SF
Area
Detroit, MI
Vacancy
5.40%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,791,140
Cap Rate 7%
$2,707,957
Cap Rate 9%
$2,106,189
Alternative Uses
Best Use
Retail
$2.71M
$2.37M – $3.16M
NOI $189,557 @ 7.0% cap · market cap 4.74%
Second Best
Healthcare Medical
$2.28M
$1.99M – $2.66M
NOI $159,564 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$3.40M
$2.97M – $3.96M
NOI $237,657 @ 7.0% cap · market cap 5.94%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
624
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48221, MI
38,204
Population
17,452
Households
2.2
Avg Household Size
38
Median Age
29%
College-Educated
90%
High-School Grad
5.2 sq mi
ZIP Area
7,347
Density / Sq Mi
$55,583
Median Household Income
$37,019
Median Earnings
$1,174
Median Rent
$138,700
Median Home Value
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Market
Vacancy Rate% for Office in Detroit, MI
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Frequently Asked Questions
What type of property is this?
Shopping center - Fresenius Kidney Care occupies the property, alongside commercial space available for lease-up.
Where is this shopping center located?
The property is located at 18400 Livernois Avenue Detroit, MI.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: Fresenius Kidney Care is the property’s primary tenant; Up to approximately 6,000 SF of vacant commercial space; Built in 1996
