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    Property profile & analytics

    15130-15148 Levan Rd Livonia, MI 48154

    • Office Properties & Spaces
    • 25,337 SF
    For Lease
    View listing
    $21 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Properties & Spaces

    Property Details for 15130-15148 Levan Rd

    Year built
    1998
    Property size
    25,337 SF
    Property type
    Office Properties & Spaces
    Property subtype
    Medical offices

    Description

    This exceptional office property, located at 15130-15148 Levan Road in Livonia, Michigan, presents a fantastic leasing opportunity. The building, constructed in 1998, offers a total of 25,337 square feet, with 1,380 square feet currently available for lease. This single-tenant space is ideal for executive or medical office use, catering to businesses seeking a well-maintained and conveniently located facility. The property sits on a generous 3.75-acre lot, providing ample space and visibility. Parking is abundant, with 120 spaces available for tenants and visitors. The building's location in Wayne County, with a zip code of 48154, offers easy access to major transportation routes and amenities. The property is categorized as an Executive Office and Medical Office space, making it suitable for a variety of professional uses. This is a rare opportunity to secure a well-appointed office space in a desirable location. The available space totals 1,380 square feet, offering flexibility for various business needs. Don't miss this chance to establish your business in this thriving area. Contact us today to schedule a viewing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Livonia
    County
    Wayne
    State
    Michigan
    Longitude
    -83.4021
    Latitude
    42.3939

    Comparable in this City

    • Value Estimation by Request
      1,600 SF

      36016 Mile

      Medical offices • 1,600 SF
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    • Value Estimation by Request
      24,678 SF

      15130-15146 Levan R

      Medical offices • 24,678 SF
      15130-15146 Levan R, Livonia, MI 48154
      View Details
    • Value Estimation
      $2,275,000
      25,915 SF

      37650 Professional Ctr Dr

      MEDICAL BUILDING • 25,915 SF
      37650 Professional Ctr Dr, Livonia, MI 48154-1197
      View Details
    • Value Estimation
      $2,075,000
      18,240 SF

      37677 Professional Ctr Dr

      DENTAL BUILDING • 18,240 SF
      37677 Professional Ctr Dr, Livonia, MI 48154-1192
      View Details
    • Value Estimation by Request
      2,131 SF

      33512 5th Mile Rd

      DENTAL BUILDING • 2,131 SF
      33512 5th Mile Rd, Livonia, MI 48154-2862
      View Details
    • Value Estimation
      $500,000
      4,900 SF

      36400 5th Mile Rd

      DENTAL BUILDING • 4,900 SF
      36400 5th Mile Rd, Livonia, MI 48154-1972
      View Details

    Similar Nearby for Sale

    • $3,400,000
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      Livonia Medical Office Building

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      15130-15146 Levan R, Livonia, MI 48154
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    • $140,000
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      Livonia Medical Office Building

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      Land Near St. Mary Hospital

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    • $300,000

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    Similar Nearby for Lease

    • $21 SF/Yr
      25,337 SF

      Livonia Executive Office Space

      Prime Office, 1,380 SF Available
      15130-15148 Levan Rd, Livonia, MI 48154
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    • $3,500 /Mo
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      18,792 SF

      Middlebelt Road Office/Medical Opportunity

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    • $17 SF/Yr
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      Renovated Office Space Available

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      16801 Newburgh Rd, Livonia, MI 48154
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    Livonia, MI 48154
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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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