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    8867 Livernois St Detroit, MI 48204
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    8867 Livernois St Detroit, MI 48204

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    • Retail properties & Spaces
    • 2,675 SF
    For Sale
    $1,200,000
    View Listing →
    Soul on Ice For Sale
    $1,200,000
    2,675 SF

    Soul on Ice

    Retail properties & Spaces

    8867 Livernois St, Detroit, MI 48204
    View Listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Soul on Ice Detroit Drinking Den / Bar & Pub
    • Varsity Lounge / Nightclub / Bar & Pub

    Property Details for 8867 Livernois St

    Property size
    2,675 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1387
    Latitude
    42.3604

    Comparable in this City

    • Value Estimation by Request
      4,182 SF

      11715 Livernois Ave

      BAR, TAVERN • 4,182 SF
      11715 Livernois Ave, Detroit, MI 48204-1355
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    • Value Estimation by Request
      9,248 SF

      11700 Livernois Ave

      BAR, TAVERN • 9,248 SF
      11700 Livernois Ave, Detroit, MI 48204-1356
      View Details
    • Value Estimation by Request
      2,400 SF

      8867 Livernois Ave

      BAR, TAVERN • 2,400 SF
      8867 Livernois Ave, Detroit, MI 48204-2114
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    • Value Estimation by Request
      2,004 SF

      9623 Grand Riv Ave

      BAR, TAVERN • 2,004 SF
      9623 Grand Riv Ave, Detroit, MI 48204-2139
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    • Value Estimation by Request
      2,044 SF

      5021 Tireman St

      BAR, TAVERN • 2,044 SF
      5021 Tireman St, Detroit, MI 48204-3760
      View Details
    • Value Estimation by Request
      1,200 SF

      7136 Chicago

      BAR, TAVERN • 1,200 SF
      7136 Chicago, Detroit, MI 48204-2813
      View Details

    Similar Nearby for Sale

    • $1,200,000
      2,675 SF

      Soul on Ice

      Bars & Pubs • 2,675 SF
      8867 Livernois St, Detroit, MI 48204
      View Details
    • $274,000
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      Detroit Commercial Building For Sale

      Spacious 5,127 SF building suitable for various business uses.
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      1,200 SF

      Detroit Commercial Building with Drive-Thru

      Well-maintained 1,200 sq. ft. building with drive-thru and parking.
      8300 Livernois Ave, Detroit, MI 48204
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      2,675 SF

      Detroit Drinking Den Opportunity

      Newly established bar/restaurant with liquor license and parking.
      8867 Livernois St, Detroit, MI 48204
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    • $199,000
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      Detroit Commercial Building with Drive-Thru

      Versatile 1,200 SF commercial building with drive-thru and parking.
      8300 Livernois Ave, Detroit, MI 48204
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    • $800,000
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      Detroit Retail Center on Joy

      Eight-unit retail center with high visibility and value-add potential.
      10501 Joy Rd, Detroit, MI 48204
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    Similar Nearby for Lease

    • $3,000 /Mo
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      Prime Commercial Property - Detroit

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    • $3,000 /Mo

      Prime Commercial Property on Joy Rd

      High-visibility commercial property with flexible B4 zoning in Detroit.
      7647 Joy Rd, Detroit, MI 48204
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      Albert Kahn Designed Showroom

      Historic Detroit showroom with rooftop and event space potential.
      8461 Grand River Ave, Detroit, MI 48204
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      Versatile Commercial Property on Joy

      Adaptable 4,389 SF commercial space suitable for various uses.
      18900 Joy Rd, Detroit, MI 48204
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      3,200 SF

      Redford Retail Space Available

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      26554 Grand River Ave, Redford, MI 48204
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      Detroit Industrial/Commercial Opportunity For Rent

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      9900 Northlawn St, Detroit, MI 48204
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    View Listing
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    Detroit, MI 48204
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    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
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