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Property profile & analytics
FOR LEASE
Strip malls
17176 Farmington Rd, Livonia, MI 48152
Individually Owned
18-yr Hold
Free & Clear
Property ID
US43-1771412
For Lease
1 / 32
$2,920,000
17176 Farmington Rd, Livonia, MI 48152
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Property summary
AI-generated overview
This exceptional 31,200 square foot retail property, located at 17176 Farmington Road in Livonia, Michigan, presents a compelling investment opportunity. Built in 1962 and zoned C-2, this multi-tenant strip center and office space offers significant potential for growth. Currently, there are two available spaces ranging from 800 to 1,600 square feet, representing a total of 2,400 square feet of vacant space ready for immediate occupancy. The property's prime location in the bustling city of Livonia, with a zip code of 48152, ensures high visibility and accessibility for businesses. The property's substantial size and flexible layout cater to a diverse range of retail and office tenants. Its strategic location within Livonia offers excellent access to major transportation routes and a dense population base, promising strong foot traffic and customer reach. The property's existing infrastructure provides a solid foundation for immediate operations, minimizing upfront investment costs. This is an ideal opportunity for businesses seeking a well-established location with ample space and high visibility in a thriving commercial area. The property's APN is 46 039 99 0007 000. Don't miss this chance to secure a prime retail space in a highly desirable location.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1962
Total area
29,628 SF
Lot
2.81 ac (122,404 SF)
APN
46 039 99 0007 000
UPID
US43-1771412
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Secretary of State Self-service Station Department Of Motor Vehicles Kiosk
-
Secretary of State office Department Of Motor Vehicles Driver'S License Office
-
MI. DMV Government Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.92M
Blend (final)
Blend
$2.92M
Owner & transaction history
MARTIN COHEN RICHARD
MARTIN COHEN RICHARD
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$4.2M
+77.9%
Restaurant
$3.1M
+30.1%
Commercial (general)
$3.1M
+29.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Livonia submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Livonia submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$2,360,000
Current use
OFFICE BUILDING
$4,195,000
Change: +78% · Conversion: Moderate
RESTAURANT
$3,070,000
Change: +30% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,060,000
Change: +30% · Conversion: Easy
MEDICAL BUILDING
$2,790,000
Change: +18% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,385,000
Change: +1% · Conversion: Difficult
RETAIL STORES
$2,255,000
Change: -4% · Conversion: Easy
Blend value · Realmo final
$2.92M
Range $2.63M – $3.21M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$99 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$59,761
Tax year 2023
Assessed value
$1,257,700
Assessed 2024
Previous assessed
$1,197,800
+5.0% YoY
Effective rate
4.75%
On assessed value
Total market value
$2,515,400
Applied tax rate
82,095.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1962
Heating
FORCED AIR
Stories
1
Total area
29,628 SF
Lot
2.81 ac (122,404 SF)
APN
46 039 99 0007 000
UPID
US43-1771412
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$2.4M
OFFICE BUILDING
Est. value
$4.2M
RESTAURANT
Est. value
$3.1M
COMMERCIAL (GENERAL)
Est. value
$3.1M
MEDICAL BUILDING
Est. value
$2.8M
INDUSTRIAL (GENERAL)
Est. value
$2.4M
RETAIL STORES
Est. value
$2.3M
NEIGHBORHOOD: SHOPPING CENTER Current
OFFICE BUILDING
RESTAURANT
COMMERCIAL (GENERAL)
MEDICAL BUILDING
INDUSTRIAL (GENERAL)
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1962
Heating
FORCED AIR
Stories
1
Lot
2.81 ac
Current owner
From public records · entity-resolved
MARTIN COHEN RICHARD
Individual
Free & Clear · 0 yrs held
Mailing address
17176 FARMINGTON RD, LIVONIA, MI 48152-3102
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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