Detroit Retail Opportunity with
16245 Livernois Detroit, MI 48221
16245 Livernois, Detroit, MI, 48221
Contact for pricing
For Sale
Contact for pricing
Pending
Retail property with drive-thru, high visibility, and redevelopment potential.
Property Size1,766 SF
Lot Size0.28 Acres
Days on Market984
Property Features for 16245 Livernois
General Information
- Standard status
- Pending
- Size
- 1,766 SF
- Lot size
- 0.28 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1996
Listing Agency
SRS Real Estate Partners Newport Beach
(248) 688-0630
Listed by
Michael Carter · License #MI 6501369793
Source
Crexi
Added: Nov 10, 2023 Updated: Jul 10 at 11:22 am Checked: Jul 19 at 7:49 am
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 SRS Real Estate Partners Newport Beach
Investment Insights
Based on property information with market context.
This property, constructed in 1996, offers a lease-up or redevelopment opportunity. Zoned B-4 – General Business District, it allows for a variety of commercial uses. The 1,766 square foot building is situated on 0.28 acres and includes a drive-thru. The property is located on Livernois Avenue, providing visibility and access to approximately 23,800 vehicles per day. It also benefits from direct access to State Highway 10 (162,000 VPD) and State Highway 8 (98,500 VPD). The surrounding area includes McDonald’s, ALDI, Church’s Texas Chicken, CVS Pharmacy, Family Dollar, Detroit Sip, and O’Reilly Auto Parts. The property is located in front of University of Detroit Mercy, which has over 5,200 students, 210 faculty members, and 100 academic degrees and programs. The location is near single-family communities and multi-family complexes, providing a residential consumer base. The trade area is supported by over 414,000 residents and 124,500 employees, with an average annual household income of $62,954.
Key Highlights
- High‑traffic location with excellent visibility: 23,800 VPD on Livernois Avenue and direct access to State Highway 10 (162,000 VPD) and State Highway 8 (98,500 VPD).
- Located in a highly desirable retail area near national/regional tenants like McDonald’s, ALDI, and CVS.
- Direct access to a large residential consumer base.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $32.8k | $18.60 |
| − Vacancy | −$1.8k | −$1.00 |
| EGI | $31.1k | $17.60 |
| − OpEx | −$7.8k | −$4.40 |
| NOI | $23.3k | $13.20 |
1,766 SF · lease $18.60/SF/yr · vacancy 5.40% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$332.9K
$291.3K – $388.4K
NOI $23,305 @ 7.0% cap · market cap 5.48%
Second Best
Retail
$310.7K
$271.9K – $362.5K
NOI $21,752 @ 7.0% cap · market cap 5.12%
Theoretical Best
Office A
$389.6K
$340.9K – $454.5K
NOI $27,271 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Burger King
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Retail property with drive-thru, high visibility, and redevelopment potential.
Where is this retail space located?
The property is located at 16245 Livernois Detroit, MI.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: High‑traffic location with excellent visibility: 23,800 VPD on Livernois Avenue and direct access to State Highway 10 (162,000 VPD) and State Highway 8 (98,500 VPD).; Located in a highly desirable retail area near national/regional tenants like McDonald’s, ALDI, and CVS.; Direct access to a large residential consumer base.
