Freestanding Retail Building with
For Sale
$369,000
29175 Plymouth Rd, Livonia, MI 48150
Freestanding C-2 building offers prime main road exposure and signage with flexible commercial and industrial use potential.
Property Size3,584 SF
Price / SF$102.96
Days on Market93
Property Features for 29175 Plymouth Rd
General Information
Standard status
Active
Size
3,584 SF
Property subtype
Retail
Zoning
C-2
Building Details
Building Size
3,584 SF
Listing Agency:
Lee & Associates of Michigan
(248) 567-8002
Listed By:
Scott E. Lyons
(248) 567-8002
Source:
Cpix.resimplifi
Added: Jun 1
Changed: Aug 22
Last Checked: Aug 31 at 12:36PM
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 Lee & Associates of Michigan
Investment Insights
Based on property information with market context.
This freestanding building offers approximately 3,584 square feet of retail-focused space with immediate occupancy possible. The property is positioned for strong visibility, featuring prime main road exposure and signage that can support walk-in retail and customer-facing uses. Zoned C-2, the site provides flexibility for a range of commercial and industrial applications.
The property is located on a main road, which helps reinforce its marketing and customer-access potential. Buyers and operators should note the listing indicates land contract terms are available, which may be useful depending on financing needs.
With its C-2 zoning and prominent roadside presence, the building is well suited for tenants seeking flexible use options rather than a highly specialized format. Because the remarks note many possible commercial and industrial uses, the space may work for a variety of operators looking to establish or expand in a highly visible, immediately accessible location.
The property is located on a main road, which helps reinforce its marketing and customer-access potential. Buyers and operators should note the listing indicates land contract terms are available, which may be useful depending on financing needs.
With its C-2 zoning and prominent roadside presence, the building is well suited for tenants seeking flexible use options rather than a highly specialized format. Because the remarks note many possible commercial and industrial uses, the space may work for a variety of operators looking to establish or expand in a highly visible, immediately accessible location.
Key Highlights
- +/- 3,584 SF freestanding building
- Zoned C‑2 with many possible commercial/industrial uses
- Prime main road exposure and signage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,959
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.20%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$679,180
$679.2K
Cap Rate 7%
$485,129
$485.1K
Cap Rate 9%
$377,322
$377.3K
Market Conditions
NOI Build-Up for 3,584 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$51.6K $14.40/SF
− Vacancy
−$3.1K −$0.86/SF
EGI
$48.5K $13.54/SF
− OpEx
−$14.6K −$4.06/SF
NOI
$34.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$679,180
Cap Rate 7%
$485,129
Cap Rate 9%
$377,322
Alternative Uses
Best Use
Retail
$485.1K
$424.5K – $566.0K
NOI $33,959 @ 7.0% cap · market cap 9.20%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$663.6K
$580.6K – $774.2K
NOI $46,449 @ 7.0% cap · market cap 12.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
421
Businesses Nearby
454k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 58%
Dining 34%
Shops & Services 6%
Electronics 2%
Walmart
Superstores
162,921 visits/mo
0.3 miles
Target
Superstores
98,854 visits/mo
0.2 miles
Chick-fil-A
Dining
50,808 visits/mo
0.3 miles
McDonald's
Dining
28,260 visits/mo
0.3 miles
Chili's Grill & Bar
Dining
19,782 visits/mo
0.2 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
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Freestanding C-2 building offers prime main road exposure and signage with flexible commercial and industrial use potential.
Where is this retail space located?
The property is located at 29175 Plymouth Rd Livonia, MI.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: +/- 3,584 SF freestanding building; Zoned C‑2 with many possible commercial/industrial uses; Prime main road exposure and signage
