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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    15370 Levan Rd Livonia, MI 48154-1903

    • Office buildings
    • 8,215 SF
    • 1.10 lot acres
    OFF-MARKET
    Value Estimations
    $1,080,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1480436
    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.

    Current Use by Public Records

    • Ronald M. Liebman, DO PLLC / Physician
    • Dr. Manuel Dumlao / Physician
    • Dr. Bipinchandra Patel / Physician / Hospital
    • Catherine Winslow / Physician
    • Jackson Edwin Turner / Physician / Medical Clinic

    Property Details for 15370 Levan Rd

    Year built
    1969
    Construction
    BRICK
    Lot size
    1.10 lot acres
    Property size
    8,215 SF
    Property type
    Office buildings
    APN
    46 068 99 0004 000
    APU
    46068990004000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,077,000
      Market price range: $754k - $1.53M
      AI Estimate
      $1,077,000
      Market price range: $754k - $1.53M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,165,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Livonia
    County
    Wayne
    State
    Michigan
    Longitude
    -83.4023
    Latitude
    42.3974
    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
    $21,420
    $0.00
    $0.00
    $446,300
    -
    $0.00
    $0.00
    $892,600

    Comparable in this City

    • Value Estimation
      $1,870,000
      10,032 SF

      14891 Farmington Rd

      OFFICE BUILDING • 10,032 SF
      14891 Farmington Rd, Livonia, MI 48154-5466
      View Details
    • Value Estimation
      $550,000
      3,620 SF

      33618 5th Mile Rd

      OFFICE BUILDING • 3,620 SF
      33618 5th Mile Rd, Livonia, MI 48154-2866
      View Details
    • Value Estimation
      $1,045,000
      8,085 SF

      32410 5th Mile Rd

      OFFICE BUILDING • 8,085 SF
      32410 5th Mile Rd, Livonia, MI 48154-3076
      View Details
    • Value Estimation by Request
      3,912 SF

      32280 5th Mile Rd

      OFFICE BUILDING • 3,912 SF
      32280 5th Mile Rd, Livonia, MI 48154-6112
      View Details
    • Value Estimation
      $645,000
      2,635 SF

      16013 Middlebelt Rd

      OFFICE BUILDING • 2,635 SF
      16013 Middlebelt Rd, Livonia, MI 48154-3313
      View Details
    • Value Estimation
      $4,540,000
      37,418 SF

      33300 5th Mile Rd

      OFFICE BUILDING • 37,418 SF
      33300 5th Mile Rd, Livonia, MI 48154-3093
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,100 SF

      Livonia Office/Medical/Flex Building For Sale

      6,100 SF single-story office building in Livonia, Michigan.
      32290 5 Mile Rd, Livonia, MI 48154
      View Details
    • 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
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    • Contact for pricing

      Levan Medical Center For Sale

      24,678 SF medical building near Trinity Health/St. Mary Mercy.
      15130-15146 Levan R, Livonia, MI 48154
      View Details
    • Contact for pricing
      2,450 SF

      Land Approved for Medical Office

      Land approved for a 2,450 Sq. Ft. medical office.
      15150 Levan 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
    • $59,900
      1,200 SF

      Livonia Industrial Flower Shop

      Thriving Flower Shop, High Growth Potential
      37653 5 Mile Rd, Livonia, MI 48154
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Renovated Office/Medical Building Available

      Renovated office/medical building with private entrances and direct HVAC control.
      16801 Newburgh Rd, Livonia, MI 48154
      View Details
    • Contact for pricing
      18,791 SF

      Middlebelt Road Office/Medical Opportunity

      Office building with ample parking and frontage on Middlebelt Rd.
      14021 Middlebelt Rd, Livonia, MI 48154
      View Details
    • Contact for pricing

      Attractive Office Building with Updates

      Updated office building with ample parking and convenient location.
      15435 Middlebelt Rd, Livonia, MI 48154
      View Details
    • Contact for pricing

      Office Space with Freeway Access

      Office space for rent with immediate freeway access.
      14111 Middlebelt Rd, Livonia, MI 48154
      View Details
    • Contact for pricing

      Medical Office Space Available

      Upscale medical building near Trinity Health Livonia Hospital.
      15230 Levan Rd, Livonia, MI 48154
      View Details
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    15370 Levan Rd
    Livonia, MI 48154-1903
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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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