Livonia Two-Story Office
For Sale
$350,000
20523 Merriman Rd, Livonia, MI 48152
Two-story office building in Livonia, Michigan, for sale.
Property Size4,471 SF
Price / SF$78.28
Days on Market195
Property Features for 20523 Merriman Rd
General Information
Standard status
Active
Size
4,471 SF
Class
C
Property subtype
Office
Building Details
Building Size
4,471 SF
Year Built
1971
Listing Agency:
Thomas A. Duke Company
Listed By:
Frank Rakipi
(248) 476-8876
Source:
Thomasduke
Added: Mar 27
Changed: Oct 6
Last Checked: Oct 7 at 10:25AM
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 Thomas A. Duke Company
Investment Insights
Based on property information with market context.
This two-story office building is strategically located in Livonia, Michigan. The property offers a total size of 4471 square feet and is suitable for commercial real estate purposes.
Key Highlights
- Strategically located in Livonia, MI.
- Two‑story office building.
- Built in 1971.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,391
Cap Rate
4.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$307,820
$307.8K
Cap Rate 7%
$219,871
$219.9K
Cap Rate 9%
$171,011
$171.0K
Market Conditions
NOI Build-Up for 4,471 SF
Gross rent
$26.8K $6.00/SF
− Vacancy
−$6.3K −$1.41/SF
EGI
$20.5K $4.59/SF
− OpEx
−$5.1K −$1.15/SF
NOI
$15.4K $3.44/SF
Area
Wayne County, MI
Vacancy
23.50%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$307,820
Cap Rate 7%
$219,871
Cap Rate 9%
$171,011
Alternative Uses
Best Use
Office B
$219.9K
$192.4K – $256.5K
NOI $15,391 @ 7.0% cap · market cap 4.40%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$827.8K
$724.3K – $965.7K
NOI $57,944 @ 7.0% cap · market cap 16.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
379
Businesses Nearby
Explore this area
Business Placement
Demographics for 48152, MI
31,098
Population
12,922
Households
2.4
Avg Household Size
47
Median Age
41%
College-Educated
95%
High-School Grad
12.0 sq mi
ZIP Area
2,592
Density / Sq Mi
$89,019
Median Household Income
$50,614
Median Earnings
$1,293
Median Rent
$284,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Two-story office building in Livonia, Michigan, for sale.
Where is this office building located?
The property is located at 20523 Merriman Rd Livonia, MI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Strategically located in Livonia, MI.; Two‑story office building.; Built in 1971.
