Storefront Property with Additional
For Sale
$2,200,000
29311 Ann Arbor Trl, Westland, MI 48185
Main building is complemented by a second structure and ample parking.
Property Size20,812 SF
Lot Size1.47 Acres
Price / SF$105.71
Days on Market112
Property Features for 29311 Ann Arbor Trl
General Information
Standard status
Active
Size
20,812 SF
Lot size
1.47 Acres
Property subtype
Commercial
Building Details
Year Built
1996
Buildings
2
Listing Agency:
Anthony Djon Luxury Real Estate
Listed By:
Ismaeel Badawi
(248) 747-4834
Source:
Vmrealestatemichigan
Added: Jul 7
Changed: Oct 25
Last Checked: Oct 24 at 5:52PM
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 Anthony Djon Luxury Real Estate
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Investment Insights
Based on property information with market context.
This storefront property occupies approximately 1.47 acres and includes a 20,000± square-foot main building. A separate additional building expands the site’s commercial footprint, while ample parking supports the property’s storefront configuration.
Located at 29311 Ann Arbor Trail in Westland, Michigan, the property offers a substantial commercial presence with multiple structures on one parcel.
Located at 29311 Ann Arbor Trail in Westland, Michigan, the property offers a substantial commercial presence with multiple structures on one parcel.
Key Highlights
- Approximately 1.47 acres
- 20,000± sq. ft. main building
- Additional building on the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$197,198
Cap Rate
8.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,943,960
$3.9M
Cap Rate 7%
$2,817,114
$2.8M
Cap Rate 9%
$2,191,089
$2.2M
Market Conditions
NOI Build-Up for 20,812 SF
Gross rent
$299.7K $14.40/SF
− Vacancy
−$18.0K −$0.86/SF
EGI
$281.7K $13.54/SF
− OpEx
−$84.5K −$4.06/SF
NOI
$197.2K $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%
$3,943,960
Cap Rate 7%
$2,817,114
Cap Rate 9%
$2,191,089
Alternative Uses
Best Use
Retail
$2.82M
$2.46M – $3.29M
NOI $197,198 @ 7.0% cap · market cap 8.96%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.85M
$3.37M – $4.50M
NOI $269,724 @ 7.0% cap · market cap 12.26%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
310
Businesses Nearby
88k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 58%
Shops & Services 36%
Dining 5%
Kroger
Groceries
51,161 visits/mo
0.3 miles
Kroger Fuel Center
Shops & Services
10,012 visits/mo
0.5 miles
7-Eleven
Shops & Services
9,214 visits/mo
0.5 miles
Ram's Horn
Dining
4,695 visits/mo
0.4 miles
Marathon
Shops & Services
4,478 visits/mo
0.1 miles
Demographics for 48185, MI
49,730
Population
23,554
Households
2.1
Avg Household Size
40
Median Age
23%
College-Educated
91%
High-School Grad
12.2 sq mi
ZIP Area
4,076
Density / Sq Mi
$59,085
Median Household Income
$40,435
Median Earnings
$1,123
Median Rent
$183,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Kroger Floral Department — 7350 N Middlebelt Rd, Westland, MI 48185
Frequently Asked Questions
What type of property is this?
Storefront property - Main building is complemented by a second structure and ample parking.
Where is this storefront property located?
The property is located at 29311 Ann Arbor Trl Westland, MI.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Approximately 1.47 acres; 20,000± sq. ft. main building; Additional building on the property
