Renovated Storefront Retail
28893 - 28905 Plymouth Road, Livonia, MI 48150
For Sale
Contact for pricing
An operating specialty market occupies a renovated building with two restrooms and municipal water, sewer, and gas service.
Property Size3,120 SF
Lot Size0.56 Acres
Price / SF$144.23
Days on Market39
Property Features for 28893 - 28905 Plymouth Road
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Frontage
Corner Location
Utilities to Site
Additional Details
Currently Operating
Amenities
LED lighting
monument signage
two restrooms
Building Details
Year Built
Year Renovated
Buildings
Construction
Listing Agency:
Burger & Company
Listed By:
Michael Rose · License #MI 6501308575
(248) 536-2888
Source:
Crexi
Added: Oct 2
Changed: Nov 8
Last Checked: Nov 8 at 5:42PM
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 Burger & Company
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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 3,120-square-foot retail building currently houses a specialty market. Brick and block construction, LED lighting, two restrooms, and monument signage are among its features. The building dates to 1956 and was renovated in 2024; the site also includes parking and additional land across 0.56 acres. Duplex conversion is identified as a potential use.
At the corner of Middlebelt and Merriman, the property offers 110 feet of frontage. City water, sewer, and gas serve the site.
At the corner of Middlebelt and Merriman, the property offers 110 feet of frontage. City water, sewer, and gas serve the site.
Key Highlights
- 3,120‑square‑foot retail building on 0.56 acres
- 110 feet of frontage at the Middlebelt and Merriman corner
- Built in 1956 and renovated in 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,563
Cap Rate
6.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$591,260
$591.3K
Cap Rate 7%
$422,329
$422.3K
Cap Rate 9%
$328,478
$328.5K
Market Conditions
NOI Build-Up for 3,120 SF
Gross rent
$44.9K $14.40/SF
− Vacancy
−$2.7K −$0.86/SF
EGI
$42.2K $13.54/SF
− OpEx
−$12.7K −$4.06/SF
NOI
$29.6K $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 Rate 5%
$591,260
Cap Rate 7%
$422,329
Cap Rate 9%
$328,478
Alternative Uses
Best Use
Retail
$422.3K
$369.5K – $492.7K
NOI $29,563 @ 7.0% cap · market cap 6.57%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$577.6K
$505.4K – $673.9K
NOI $40,435 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
427
Businesses Nearby
269k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 52%
Superstores 37%
Shops & Services 8%
Electronics 2%
Target
Superstores
98,854 visits/mo
0.4 miles
Chick-fil-A
Dining
50,808 visits/mo
0.4 miles
McDonald's
Dining
28,260 visits/mo
0.4 miles
Chili's Grill & Bar
Dining
19,782 visits/mo
0.4 miles
BIGGBY COFFEE
Dining
7,577 visits/mo
0.3 miles
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
$228,600
Median Home Value
Market
Average Price Trend$/SF for Storefront properties in Wayne County, MI
Properties on Market for Storefront properties in Wayne County
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Storefront property - An operating specialty market occupies a renovated building with two restrooms and municipal water, sewer, and gas service.
Where is this storefront property located?
The property is located at 28893 - 28905 Plymouth Road Livonia, MI.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 3,120‑square‑foot retail building on 0.56 acres; 110 feet of frontage at the Middlebelt and Merriman corner; Built in 1956 and renovated in 2024
