Corner-Lot Storefront
For Sale
$450,000
33050 Five Mile Rd, Livonia, MI 48154
Freestanding commercial building with C-2 zoning and potential office, retail, or medical office use.
Property Size1,800 SF
Price / SF$250
Days on Market192
Property Features for 33050 Five Mile Rd
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Retail
Zoning
C-2
Building Details
Building Size
1,800 SF
Listing Agency:
Burger & Company
(734) 890-4609
Listed By:
Jack Bushart · License #6501442083
(734) 890-4609
Source:
Cpix.resimplifi
Added: Feb 19
Changed: Aug 30
Last Checked: Aug 30 at 8:08AM
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 Burger & Company
Investment Insights
Based on property information with market context.
This freestanding storefront property occupies a corner lot on Five Mile Road in Livonia. The building is positioned for office, retail, or medical office use and carries C-2 zoning. Recent capital improvements include a roof replacement completed in 2020, a new HVAC unit installed in 2023, and exterior painting completed in 2022.
The property offers access to I-96 and I-275, supporting connections throughout the surrounding area. Its standalone configuration and corner positioning provide a practical setting for a range of commercial operations.
The property offers access to I-96 and I-275, supporting connections throughout the surrounding area. Its standalone configuration and corner positioning provide a practical setting for a range of commercial operations.
Key Highlights
- Freestanding building on a corner lot along Five Mile Road
- C‑2 zoning supports commercial use
- Roof upgraded in 2020
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
$17,055
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
3.79%
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%
$341,100
$341.1K
Cap Rate 7%
$243,643
$243.6K
Cap Rate 9%
$189,500
$189.5K
Market Conditions
NOI Build-Up for 1,800 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
$25.9K $14.40/SF
− Vacancy
−$1.6K −$0.86/SF
EGI
$24.4K $13.54/SF
− OpEx
−$7.3K −$4.06/SF
NOI
$17.1K $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%
$341,100
Cap Rate 7%
$243,643
Cap Rate 9%
$189,500
Alternative Uses
Best Use
Retail
$243.6K
$213.2K – $284.3K
NOI $17,055 @ 7.0% cap · market cap 3.79%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$333.3K
$291.6K – $388.8K
NOI $23,328 @ 7.0% cap · market cap 5.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
581
Businesses Nearby
8k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 55%
Home Improvements & Furnishings 36%
Dining 9%
Community Choice Credit Union
Shops & Services
4,312 visits/mo
0.1 miles
True Value Hardware
Home Improvements & Furnishings
2,859 visits/mo
0.2 miles
Hungry Howie's Pizza
Dining
734 visits/mo
0.2 miles
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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Freestanding commercial building with C-2 zoning and potential office, retail, or medical office use.
Where is this storefront property located?
The property is located at 33050 Five Mile Rd Livonia, MI.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Freestanding building on a corner lot along Five Mile Road; C‑2 zoning supports commercial use; Roof upgraded in 2020
