Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    High-Visibility Retail Space on Plymouth Title is generated by Realmo AI

    31507 PLYMOUTH Road, Livonia, MI 48150

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $89,000

    1,980 SF retail building with high traffic exposure.

    Type:Commercial/Industrial
    Property size:
    1,500 SF
    Lot size:
    0.05 Acres
    Price / SF:
    $59/SF
    Added:
    Mar 12, 2026
    Days on Market:
    72
    Last Refresh:
    Apr 6 at 1:07 am

    Property Features for 31507 PLYMOUTH Road

    General Information

    Standard status
    Active
    Size
    1,500 SF
    Lot size
    0.05 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1928

    We can help!

    Listing Contact
    Jonathan Farida
    Jonathan Farida

    Listing agent Jonathan Farida License #6501432091

    Listing office Community Choice Realty Inc

    Listing date Mar 12, 2026

    Source Exitrealty

    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 Community Choice Realty Inc

    HighLights

    • High‑visibility location on Plymouth Road with over 20,000 vehicles passing daily.
    • 1,980 sq. ft. retail space.
    • Investment or development opportunity.
    • Priced to sell.
    • Potential to restore, renovate, and capitalize on high‑traffic location.
    • Year Built: 1928.

    Overview

    This 1,980 square foot retail building is located on Plymouth Road, west of Merriman. The property benefits from high visibility, with over 20,000 vehicles passing by daily. The roof requires replacement due to a hole, but repairs are manageable. This property offers an opportunity for investors or developers to transform the space and unlock its full potential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Livonia
    County
    Wayne
    State
    Michigan
    Longitude
    -83.354
    Latitude
    42.3684

    Nearby Similar for Sale

    • $1,250,000
      11,800 SF

      Versatile Commercial Property in Livonia

      Customizable commercial space with warehouse and ample parking.
      28980 Joy Road, Livonia, MI 48150
      View Details
    • $1,500,000
      3,620 SF

      Livonia Commercial Building for Sale

      Turnkey commercial building in prime Livonia location.
      30737 7 Mile Road, Livonia, MI 48152
      View Details
    • $399,000
      3,000 SF

      Freestanding Retail Building on Middlebelt

      3,000 SF commercial building with prime frontage and open layout.
      15282 Middlebelt Rd, Livonia, MI 48154
      View Details
    • $339,000
      3,300 SF

      Commercial Building on Middlebelt Road

      3,300 SF commercial building with high traffic and parking.
      15210 Middlebelt Rd, Livonia, MI 48154
      View Details
    • $525,000
      2,761 SF

      Downtown Livonia Medical Office Building

      2,761 sq ft medical office building in downtown Livonia.
      15357 Farmington Rd, Livonia, MI 48154
      View Details
    • $1,986,500
      13,905 SF

      Established Walgreens Location for Sale

      Long-term Walgreens with low rent in a dense retail area.
      29200 Six Mile Rd, Livonia, MI, 48152
      View Details
    • $1,500,000

      Turnkey Medical Office For Sale

      Recently renovated medical office in prime location, ready for business.
      30737 7 Mile Rd, Livonia, MI 48152
      View Details
    • $950,000
      20,000 SF

      Livonia Commercial Property For Sale

      Commercial property with banquet hall, bar, and restaurant.
      31117 PLYMOUTH Road, Livonia, MI 48150
      View Details
    • $1,516,666
      11,440 SF

      Freestanding Store with New Lease

      Freestanding store with a new 10-year double net lease.
      27401 W. 6 Mile Road | Livonia, MI 48152
      View Details
    • $500,000
      8,875 SF

      Livonia Activity Hall with Parking

      Large hall with remodeled kitchen and ample parking.
      27531 GRAND RIVER Street, Livonia City, MI 48152
      View Details
    • $16
      19,210 SF

      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
    • $369,000
      3,584 SF

      Freestanding Building on Plymouth Road

      3,584 SF building with C-2 zoning and main road exposure.
      29175 Plymouth Rd, Livonia, MI 48150
      View Details

    FAQs

    What type of property is this?
    Retail space - 1,980 SF retail building with high traffic exposure.
    Where is this retail space located?
    The property is located at 31507 PLYMOUTH Road Livonia, MI.
    What is the asking price?
    The asking price for this property is $89,000.
    What are key features of this property?
    This property features: High‑visibility location on Plymouth Road with over 20,000 vehicles passing daily.; 1,980 sq. ft. retail space.; Investment or development opportunity.
    (248) 729-0011
    We can help!
    Listing Contact
    Jonathan Farida
    Jonathan Farida
    Real Estate License ID: 6501432091
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    31507 PLYMOUTH Road, Livonia, MI 48150
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!