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    15265 Farmington Rd Livonia, MI 48154-5447
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    15265 Farmington Rd Livonia, MI 48154-5447

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    • Strip malls
    • 1,586 SF
    • 0.26 lot acres
    For Lease
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    Livonia Retail/Office Space Available For Lease
    Contact for pricing
    1,800 SF

    Livonia Retail/Office Space Available

    Three suites available for retail or office use in Livonia.

    15265 Farmington Rd, Livonia, MI 48154
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    Property ID
    US43-2430985
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mold Inspection Livonia / Home Inspector

    Property Details for 15265 Farmington Rd

    Year built
    1963
    Lot size
    0.26 lot acres
    Property size
    1,586 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    46 081 99 0001 001
    APU
    46081990001001

    Description

    This Livonia, Michigan commercial property, located at 15265 Farmington Road (cross street: 5 Mile), offers a prime retail and office space opportunity. The single, one-story building, constructed in 1980, totals 1,800 square feet and is currently fully vacant. The property is zoned C-2 and features three individual suites, each divisible to a minimum of 450 square feet, with a maximum contiguous space of 1,800 square feet. The building is classified as Class C. Ample parking is available for tenants and their clients. This corner location boasts excellent visibility due to its placement on a busy intersection, and its proximity to the Mayor Expressway (within one mile) provides convenient access for commuters. The Wayne County property (APN: 324662345) presents a versatile space suitable for a variety of businesses. This is an exceptional opportunity to establish a presence in the thriving Livonia submarket. The property's address is 15265 Farmington Rd, Livonia, MI 48154.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Livonia
    County
    Wayne
    State
    Michigan
    Longitude
    -83.3739
    Latitude
    42.397
    CBSA code
    19820
    CBSA name
    DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $3,367
    $0.00
    $0.00
    $85,100
    -
    $0.00
    $0.00
    $170,200

    Comparable in this City

    • Value Estimation
      $720,000
      6,670 SF

      37464 5th Mile Rd

      SHOPPING CENTER, STRIP CENTER • 6,670 SF
      37464 5th Mile Rd, Livonia, MI 48154-1542
      View Details
    • Value Estimation
      $1,410,000
      12,200 SF

      28400 5th Mile Rd

      SHOPPING CENTER, STRIP CENTER • 12,200 SF
      28400 5th Mile Rd, Livonia, MI 48154-3824
      View Details
    • Value Estimation
      $1,610,000
      15,061 SF

      37569 5th Mile Rd

      SHOPPING CENTER, STRIP CENTER • 15,061 SF
      37569 5th Mile Rd, Livonia, MI 48154-1541
      View Details
    • Value Estimation by Request
      4,720 SF

      29100 5th Mile Rd

      SHOPPING CENTER, STRIP CENTER • 4,720 SF
      29100 5th Mile Rd, Livonia, MI 48154-3850
      View Details
    • Value Estimation by Request
      3,600 SF

      33666 5th Mile Rd

      SHOPPING CENTER, STRIP CENTER • 3,600 SF
      33666 5th Mile Rd, Livonia, MI 48154-2866
      View Details
    • Value Estimation
      $2,420,000
      33,623 SF

      16100 Middlebelt Rd

      SHOPPING CENTER, STRIP CENTER • 33,623 SF
      16100 Middlebelt Rd, Livonia, MI 48154-3338
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,761 SF

      Downtown Livonia Commercial Building

      2,761 sq ft building in the heart of Livonia.
      15357 Farmington Rd, Livonia, MI 48154
      View Details
    • Contact for pricing
      5,309 SF

      Retail Space Available

      Retail space for sale, 5309 square feet.
      36700 5 Mile Rd, Livonia, MI 48154
      View Details
    • Contact for pricing
      3,000 SF

      Freestanding Retail Building on Middlebelt

      3,000 SF commercial building with frontage on Middlebelt Road.
      15282 Middlebelt Rd, Livonia, MI 48154
      View Details
    • Contact for pricing
      1,885 SF

      Profitable Dry Cleaner Business Opportunity

      Turnkey dry cleaner business with high cash flow in Livonia.
      15260 Middlebelt Rd, Livonia, MI 48154
      View Details
    • $399,000

      Freestanding Retail Building on Middlebelt

      3,000 SF commercial building with prime frontage and open layout.
      15282 Middlebelt Rd, Livonia, MI 48154
      View Details
    • $339,000

      Commercial Building on Middlebelt Road

      3,300 SF commercial building with high traffic and parking.
      15210 Middlebelt Rd, Livonia, MI 48154
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr

      Retail Space Near I-96 & I-275

      Retail spaces available in neighborhood center near I-96 & I-275.
      33653-33897 5 Mile Rd, Livonia, MI 48154
      View Details
    • Contact for pricing
      5,000 SF

      Retail Space in Livonia Plaza

      Retail space for lease anchored by Kroger in Livonia.
      30905-30997 5 Mile Rd, Livonia, MI 48154
      View Details
    • Contact for pricing
      2,350 SF

      Livonia Retail Space For Rent

      Retail space available in active neighborhood shopping center in Livonia.
      29441-29567 5 Mile Rd, Livonia, MI 48154
      View Details
    • Contact for pricing

      Retail Space Near I-275

      1,563 SF retail space with high traffic and accessibility.
      37645 6 Mile Rd, Livonia, MI 48154
      View Details
    • $12,788 /Mo

      Retail Space Near I-96 Freeway

      Retail space with freeway access and ample parking.
      14111 Middlebelt Rd, Livonia, MI 48154
      View Details
    View Listing
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    Livonia, MI 48154-5447
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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.

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