Retail Suite with Ample
For Sale
Contact for pricing
27700 Joy Road, Livonia, MI 48150
The unit is part of a three-suite center and has parking in front of and behind the building.
Property Size12,178 SF
Price / SF$0.21
Days on Market17
Property Features for 27700 Joy Road
General Information
Standard status
Active
Size
12,178 SF
Property subtype
Commercial
Building Details
Year Built
1967
Tenancy
Multi
Listing Agency:
GoodHome Realty, LLC
Listed By:
Quinton Lemond
(248) 928-4992
Source:
Goodhomemi
Added: Oct 13
Changed: Oct 28
Last Checked: Oct 28 at 4:20PM
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 GoodHome Realty, LLC
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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 2,700-square-foot retail unit is one of three suites in a strip center built in 1967. The space was previously used for events and could be adapted for a medical or dental office, physical therapy, financial or accounting services, or retail. Parking is available in front of the building and behind it.
The property is on Joy Road near Inkster, close to a shopping district and restaurants.
The property is on Joy Road near Inkster, close to a shopping district and restaurants.
Key Highlights
- 2,700‑square‑foot unit in a three‑suite strip center
- Parking at the front and rear of the building
- Built in 1967
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,923
Suggested Prices Based on Cap Rates
Cap Rate 5%
$838,460
$838.5K
Cap Rate 7%
$598,900
$598.9K
Cap Rate 9%
$465,811
$465.8K
Market Conditions
NOI Build-Up for 12,178 SF
Gross rent
$73.1K $6.00/SF
− Vacancy
−$17.2K −$1.41/SF
EGI
$55.9K $4.59/SF
− OpEx
−$14.0K −$1.15/SF
NOI
$41.9K $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%
$838,460
Cap Rate 7%
$598,900
Cap Rate 9%
$465,811
Alternative Uses
Best Use
Healthcare Medical
$1.83M
$1.60M – $2.14M
NOI $128,242 @ 7.0% cap · market cap 5,129.68%
Second Best
Retail
$1.65M
$1.44M – $1.92M
NOI $115,389 @ 7.0% cap · market cap 4,615.56%
Theoretical Best
Specialty Retail
$2.25M
$1.97M – $2.63M
NOI $157,827 @ 7.0% cap · market cap 6,313.08%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
257
Businesses Nearby
Explore this area
Business Placement
Demographics for 48150, MI
26,573
Population
10,724
Households
2.5
Avg Household Size
42
Median Age
36%
College-Educated
96%
High-School Grad
12.1 sq mi
ZIP Area
2,196
Density / Sq Mi
$94,058
Median Household Income
$50,779
Median Earnings
$1,328
Median Rent
$228,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - The unit is part of a three-suite center and has parking in front of and behind the building.
Where is this retail space located?
The property is located at 27700 Joy Road Livonia, MI.
What are key features of this property?
This property features: 2,700‑square‑foot unit in a three‑suite strip center; Parking at the front and rear of the building; Built in 1967
