Current Use by Public Records
- Warehouses
Property Details for 12585 Farmington Rd
- Year built
- 1987
- Lot size
- 2.35 lot acres
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This exceptional investment opportunity presents a fully leased, multi-tenant industrial warehouse located at 12585-12623 Farmington Rd, Livonia, MI 48150. The property boasts a total of 30,600 square feet across 20 separately metered units, each ranging from 1,200 to 1,800 square feet. Currently operating at 100% occupancy, this stabilized investment generates a substantial net operating income (NOI) of $285,385, resulting in an attractive 7.32% capitalization rate. The asking price is $3,899,999, translating to $127.45 per square foot and $194,999.95 per unit. Built in 1987, this single-story building sits on a 2.35-acre lot and features 20 overhead doors, a 14-foot ceiling height, and is conveniently located in the heart of Livonia. A new parking lot is slated for completion in 2024, further enhancing the property's appeal. This is an ideal investment for those seeking a stable, high-yielding asset in a prime industrial location. The property's strong tenancy and consistent cash flow make it a compelling opportunity for long-term growth and passive income. The building's features, including the separately metered units and ample overhead doors, cater to a diverse range of tenants, ensuring continued occupancy and revenue generation. The property's location in Livonia, MI offers excellent access to major transportation routes and a thriving business community.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Livonia
- County
- Wayne
- State
- Michigan
- Longitude
- -83.3733
- Latitude
- 42.3758
