Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    28407 5 Mile Rd Livonia, MI 48154

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Fully-equipped restaurant with parking, ready for immediate occupancy.

    Property Features for 28407 5 Mile Rd

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    Muj Sanad
    Source: Crexi

    Listing Agency: KW Commercial Listing Agent: Muj Sanad

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Equipped Restaurant Space For Lease

    This standalone property offers a fully-equipped restaurant space available for lease in a high-traffic area. The property includes its own parking lot with spaces. Situated on 5 Mile Road between Middlebelt and Inkster Roads, just north of I-96, the location benefits from a freshly painted exterior and a prominent, illuminated sign. The triple net lease price includes restaurant equipment, and the space is available for immediate occupancy. This location is suited for starting a new venture or relocating an existing business.
    Location Intelligence

    Current Use by Public Records

    City Gourmet Restaurant Broadway Diner Restaurant

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Livonia
    County
    Wayne
    State
    Michigan
    Longitude
    -83.3250028
    Latitude
    42.3979325

    Nearby Similar for Lease

    • New
      $10,000 /Mo
      11,000 SF

      Versatile Commercial Property in Livonia

      Customizable commercial space with warehouse and ample parking.
      28980 Joy Rd, Livonia, MI 48150
      View Details
    • $2,000 /Mo
      2,200 SF

      Livonia Retail Space Available

      Retail space for lease in Livonia with great visibility.
      29225 7 Mile Rd, Livonia, MI 48152
      View Details
    • $1,200 /Mo
      8,400 SF

      Livonia Retail Space For Rent

      Retail space in high-density area with excellent demographics.
      28917 7 Mile Rd, Livonia, MI 48152
      View Details
    • $1,700 /Mo
      8,400 SF

      Prime Retail Location in Livonia

      Retail space in high-density area with excellent demographics.
      28921 7 Mile Rd, Livonia, MI 48152
      View Details
    • $3,000 /Mo
      1,750 SF

      Remodeled Commercial Space in Livonia

      Completely remodeled commercial space with high visibility and ample parking.
      34794 Plymouth Rd, Livonia, MI 48150
      View Details
    • $1,400 /Mo
      8,400 SF

      Livonia Retail Space For Lease

      Retail space in high-density area with excellent demographics.
      28919 7 Mile Rd, Livonia, MI 48152
      View Details
    • $3,000 /Mo
      1,750 SF

      Remodeled Retail/Office Space Available

      Completely remodeled retail/office space with upgrades and ample parking.
      34788 Plymouth Rd, Livonia, MI 48150
      View Details
    • $3,000 /Mo
      1,750 SF

      Remodeled Retail Space in Livonia

      Completely remodeled retail space with high visibility and ample parking.
      34800 Plymouth Rd, Livonia, MI 48150
      View Details
    • $1,499 /Mo
      7,150 SF

      Livonia Retail/Office Space Available

      1,000 sq ft space ideal for retail or office.
      37454 Ann Arbor Trl, Livonia, MI 48150
      View Details
    • $3,500 /Mo
      2,720 SF

      Modern Medical Spa Space Available

      Newly renovated medical spa space for rent in Livonia.
      15645 Farmington Rd, Livonia, MI 48154
      View Details
    • $12 SF/Yr
      9,710 SF

      Renovated Office Space in Livonia

      Newly renovated office space ideal for medical or service tenants.
      10982 Middlebelt Rd, Livonia, MI 48150
      View Details
    • New
      $6,000 /Mo
      7,000 SF

      Livonia Commercial Space For Rent

      Spacious Livonia property suitable for education or daycare facility.
      16360 Hubbard St, Livonia, MI 48154
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - Fully-equipped restaurant with parking, ready for immediate occupancy.
    Where is this conventional restaurant located?
    The property is located at 28407 5 Mile Rd Livonia, MI.
    What are key features of this property?
    This property features: - Fully-equipped restaurant space included in lease; - High-traffic location on 5 Mile Road near major roads; - Standalone building with private parking lot
    Request Owner's contact information
    28407 5 Mile Rd Livonia, MI 48154
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    28407 5 Mile Rd
    Livonia, MI 48154
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    28407 5 Mile Rd Livonia, MI 48154
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Muj Sanad
    Real Estate License ID: 6501410189
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!