Livonia Office/Medical/Flex Building For
For Sale
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32290 Five Mile Rd, Livonia, MI 48154
6,100 SF single-story office building in Livonia, Michigan.
Property Size6,100 SF
Price / SF$113.93
Days on Market895
Property Features for 32290 Five Mile Rd
General Information
Standard status
Active
Size
6,100 SF
Property subtype
Mixed Use, Office, Special Purpose
Building Details
Year Built
1976
Year Renovated
2022
Stories
1
Units
3
Listing Agency:
Laramie International LLC
Listed By:
Ramez Abdulnour · License #MI 6502395301
(248) 671-4973
Source:
Crexi
Added: Apr 25, 2024
Changed: Sep 22
Last Checked: Oct 5 at 6:51PM
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 Laramie International LLC
Investment Insights
Based on property information with market context.
This 6,100 SF single-story office building in Livonia, Michigan, is suitable for office, medical, or flex use. The property features three large suites, each with its own entry doors, kitchen/lounge area, and bathrooms. It offers an excellent opportunity for an owner/user or investor. The building benefits from a central location with easy access to I-96, I-275, and connecting freeways. Monument signage is available. The property is located on Five Mile Road, close to Livonia City Hall and across from the recreation center.
Key Highlights
- 6,100 SF single‑story office building suitable for office, medical, or flex use.
- Three large suites, each with private entry, kitchen/lounge, and bathrooms.
- Central location with easy access to I‑96, I‑275, and connecting freeways.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,999
Cap Rate
3.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$419,980
$420.0K
Cap Rate 7%
$299,986
$300.0K
Cap Rate 9%
$233,322
$233.3K
Market Conditions
NOI Build-Up for 6,100 SF
Gross rent
$36.6K $6.00/SF
− Vacancy
−$8.6K −$1.41/SF
EGI
$28.0K $4.59/SF
− OpEx
−$7.0K −$1.15/SF
NOI
$21.0K $3.44/SF
Area
Wayne County, MI
Vacancy
23.50%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$419,980
Cap Rate 7%
$299,986
Cap Rate 9%
$233,322
Alternative Uses
Best Use
Healthcare Medical
$917.7K
$803.0K – $1.07M
NOI $64,237 @ 7.0% cap · market cap 9.24%
Second Best
Office B
$300.0K
$262.5K – $350.0K
NOI $20,999 @ 7.0% cap · market cap 3.02%
Theoretical Best
Specialty Retail
$1.13M
$988.2K – $1.32M
NOI $79,056 @ 7.0% cap · market cap 11.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
461
Businesses Nearby
Explore this area
Business Placement
Demographics for 48154, MI
37,864
Population
15,330
Households
2.5
Avg Household Size
47
Median Age
44%
College-Educated
95%
High-School Grad
11.6 sq mi
ZIP Area
3,264
Density / Sq Mi
$103,763
Median Household Income
$59,017
Median Earnings
$1,197
Median Rent
$285,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 6,100 SF single-story office building in Livonia, Michigan.
Where is this office building located?
The property is located at 32290 Five Mile Rd Livonia, MI.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 6,100 SF single‑story office building suitable for office, medical, or flex use.; Three large suites, each with private entry, kitchen/lounge, and bathrooms.; Central location with easy access to I‑96, I‑275, and connecting freeways.
