Single-Tenant Auto
For Sale
Contact for pricing
29200 Plymouth Rd, Livonia, MI 48150
Long-term triple-net tenancy, recent site upgrades, and direct connectivity to I-275 support the property’s established operating profile.
Property Size10,600 SF
Price / SF$160.43
Days on Market117
Property Features for 29200 Plymouth Rd
General Information
Standard status
Active
Size
10,600 SF
Property subtype
Retail
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$119,038
Site & Location
Traffic Count
19,013 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1960
Tenancy
Single
Listing Agency:
Marcus & Millichap - Detroit
Listed By:
Ashish Vakhariya · License #MI 6501322501
Source:
Crexi
Added: May 7
Changed: Aug 31
Last Checked: Aug 31 at 1:34AM
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 Marcus & Millichap - Detroit
Investment Insights
Based on property information with market context.
This 10,600-square-foot automotive service property was built in 1960 and is occupied by Firestone Complete Auto Care under a long-term triple-net lease. Firestone has operated at the site for approximately 30 years, and the tenant exercised its latest lease extension in 2025. Recent landlord-funded work included parking lot and sewer upgrades.
The property fronts Plymouth Road in Livonia, Michigan, where traffic is reported at approximately 19,013 vehicles per day. Middlebelt Road, carrying approximately 43,291 vehicles per day, provides nearby north-south connectivity, while direct access to I-275 links the site with the broader Detroit metropolitan area. The surrounding retail corridor includes Costco, Meijer, Walmart, Dick’s Sporting Goods, Menards, Target, Home Depot, and Aldi.
Within five miles, the trade area contains approximately 19.5 million square feet of retail space, a residential population of approximately 296,000, and average household incomes exceeding $85,000. The property is located at 29200 Plymouth Rd, Livonia, MI 48150.
The property fronts Plymouth Road in Livonia, Michigan, where traffic is reported at approximately 19,013 vehicles per day. Middlebelt Road, carrying approximately 43,291 vehicles per day, provides nearby north-south connectivity, while direct access to I-275 links the site with the broader Detroit metropolitan area. The surrounding retail corridor includes Costco, Meijer, Walmart, Dick’s Sporting Goods, Menards, Target, Home Depot, and Aldi.
Within five miles, the trade area contains approximately 19.5 million square feet of retail space, a residential population of approximately 296,000, and average household incomes exceeding $85,000. The property is located at 29200 Plymouth Rd, Livonia, MI 48150.
Key Highlights
- 10,600‑square‑foot auto service property built in 1960
- Firestone Complete Auto Care has operated at the site for approximately 30 years
- Long‑term triple‑net lease with the tenant’s latest extension exercised in 2025
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
$100,437
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
5.91%
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%
$2,008,740
$2.0M
Cap Rate 7%
$1,434,814
$1.4M
Cap Rate 9%
$1,115,967
$1.1M
Market Conditions
NOI Build-Up for 10,600 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
$152.6K $14.40/SF
− Vacancy
−$9.2K −$0.86/SF
EGI
$143.5K $13.54/SF
− OpEx
−$43.0K −$4.06/SF
NOI
$100.4K $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%
$2,008,740
Cap Rate 7%
$1,434,814
Cap Rate 9%
$1,115,967
Alternative Uses
Best Use
Retail
$1.43M
$1.26M – $1.67M
NOI $100,437 @ 7.0% cap · market cap 5.91%
Second Best
Industrial
$784.0K
$686.0K – $914.6K
NOI $54,877 @ 7.0% cap · market cap 3.23%
Theoretical Best
Specialty Retail
$1.96M
$1.72M – $2.29M
NOI $137,376 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
19,013 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
475
Businesses Nearby
554k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 47%
Dining 29%
Home Improvements & Furnishings 11%
Shops & Services 7%
Walmart
Superstores
162,921 visits/mo
0.5 miles
Target
Superstores
98,854 visits/mo
0.4 miles
Menards
Home Improvements & Furnishings
59,579 visits/mo
0.4 miles
Chick-fil-A
Dining
50,808 visits/mo
0.1 miles
McDonald's
Dining
28,260 visits/mo
0.1 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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Similar Off Market Nearby
- Walmart Auto Care Centers — 29555 Plymouth Rd, Livonia, MI 48150
- Midas Livonia — 30481 plymouth rd, livonia, mi 48150
- Ppg Collision Repair Center — Milburn St, Livonia, MI 48150
- Midas — 30481 Plymouth Rd, Livonia, MI 48150
- Livonia Auto Center — 30451 Plymouth Rd, Livonia, MI 48150
Frequently Asked Questions
What type of property is this?
Auto shop - Long-term triple-net tenancy, recent site upgrades, and direct connectivity to I-275 support the property’s established operating profile.
Where is this auto shop located?
The property is located at 29200 Plymouth Rd Livonia, MI.
What is the asking price?
The asking price for this property is $1,700,542.
What are key features of this property?
This property features: 10,600‑square‑foot auto service property built in 1960; Firestone Complete Auto Care has operated at the site for approximately 30 years; Long‑term triple‑net lease with the tenant’s latest extension exercised in 2025
