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

    29480 7 Mile Rd Livonia, MI 48152

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

    Fully leased community shopping center shadow anchored by Walmart and Kohl’s.

    Property size:
    52,730 SF

    Property Features for 29480 7 Mile Rd

    General Information

    Standard status
    Active
    Size
    52,730 SF

    Building Details

    Year built
    2010

    We can help!

    Listing Contact
    Ben Wineman
    Source: Crexi

    Listing Agency: Mid-America Real Estate Corporation Listing Agent: Ben Wineman

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

    Learn more

    Overview

    Livonia Marketplace Retail Opportunity

    Livonia Marketplace is a 100% leased community shopping center. The property is shadow anchored by Walmart and Kohl’s. It is located within the dense northwestern suburbs of Detroit. The property size is 52730 square feet.
    Location Intelligence

    Current Use by Public Records

    Livonia Marketplace Shopping Center & Mall Lily Banks Florist (Bike/Boat/Book/etc) Store Tropical Smoothie Cafe Cafe & Coffee Shop

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Livonia
    County
    Wayne
    State
    Michigan
    Longitude
    -83.337385
    Latitude
    42.4288729

    Nearby Similar for Sale

    • $750,000
      6,225 SF

      Livonia Retail Building For Sale

      6,225 SF retail building in Livonia with high visibility.
      28663 Plymouth Rd, Livonia, MI 48150
      View Details
    • $750,000

      Livonia Retail Building For Sale

      6,225 SF retail building in Livonia with investment potential.
      28663 Plymouth Rd, Livonia, MI 48150
      View Details
    • $995,900

      Office Building Near 7 Mile

      Office building for sale in high-growth area.
      19323 Farmington Rd, Livonia, MI 48152
      View Details
    • $850,000

      Spacious Retail Building in Livonia

      6,052 sq ft retail building in high-traffic Livonia location.
      19276 Middlebelt Rd, Livonia, MI 48152
      View Details
    • $950,000
      Pending

      Livonia Commercial Property For Sale

      Commercial property with banquet hall, bar, and restaurant.
      31117 Plymouth Rd, Livonia, MI 48150
      View Details
    • $89,000
      1,500 SF

      High-Visibility Retail Space on Plymouth

      1,980 SF retail building with high traffic exposure.
      31507 Plymouth Rd, Livonia, MI 48150
      View Details
    • $950,000
      Pending

      Livonia Commercial Property For Sale

      Commercial property with banquet hall, bar, restaurant, and commercial kitchen.
      31117 Plymouth Rd, Livonia, MI 48150
      View Details
    • $500,000
      8,875 SF

      Livonia Activity Hall with Parking

      Large hall with remodeled kitchen and ample parking.
      27531 Grand River St, Livonia, MI 48152
      View Details
    • Contact for pricing

      Renovated Office/Medical Building For Sale

      Renovated office/medical building with direct suite entrances and tenant-controlled HVAC.
      34441 W 8 Mile Rd, Livonia, MI 48152
      View Details
    • $4,750,000
      109,264 SF

      Livonia Office Building For Sale

      Office building with 109,264 square feet of space.
      31100 Plymouth Rd, Livonia, MI 48150
      View Details
    • $62,000

      Established Restaurant Business Opportunity

      Restaurant business for sale in a prime Livonia location.
      34710 W Plymouth Rd, Livonia, MI 48150
      View Details
    • $125,000

      Profitable Dry Cleaner Business Opportunity

      Turnkey dry cleaner business with high cash flow in Livonia.
      15260 Middlebelt Rd, Livonia, MI 48154
      View Details

    FAQs

    What type of property is this?
    Shopping center - Fully leased community shopping center shadow anchored by Walmart and Kohl’s.
    Where is this shopping center located?
    The property is located at 29480 7 Mile Rd Livonia, MI.
    What are key features of this property?
    This property features: - 100% leased, providing immediate income.; - Shadow anchored by Walmart and Kohl's, driving significant customer traffic.; - Located in a dense northwestern suburb of Detroit, ensuring a strong customer base.
    Request Owner's contact information
    29480 7 Mile Rd Livonia, MI 48152
    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.
    29480 7 Mile Rd
    Livonia, MI 48152
    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
    29480 7 Mile Rd Livonia, MI 48152
    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
    Ben Wineman
    Real Estate License ID: 471008161
    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!