Property profile

18400 Livernois Ave Detroit, MI 48221

OFF-MARKET
Medical Office Space
Property ID
US43-0904636
16,080 SF 1.1 ac lot Built 1996
Entity Owned 10-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

The property is a community retail center located in Detroit’s University District, south of The Avenue of Fashion and near the University of Detroit Mercy (UDM). It is anchored by a multinational healthcare company and contains four retail/commercial suites that can be combined to provide up to 6,480 square feet for an occupant. Building renovations and improvements have been implemented, including updates to building systems, infrastructure, and signage. Parking is supported by an on-site parking lot, with an additional parking lot planned. The University District is bounded to the north by Seven Mile Road, to the south by McNichols Road and the UDM campus, to the east by the Detroit Golf Club and Golf Club Estates, and to the west by Livernois Avenue (noted as a Gallery Row area). Nearby amenities and points of interest include Belden Tot Lot, GESU Community Green and Garden, UDM running track, Northwest Activities Center, Detroit Golf Club, and Palmer Park facilities such as playing fields, tennis courts, and a public golf course, along with cultural venues and libraries including UDM Theatre Company, Detroit Repertory Theater, Baker’s Keyboard Lounge, Sherwood Forest, Lincoln, and Parkman Branch Libraries.

Property profile

Verified
Property type Medical Office Space
Use group MEDICAL BUILDING
Year built 1996
Total area 16,080 SF
Lot 1.1 ac (47,916 SF)
Zoning code B2
APN 02004367-86
UPID US43-0904636

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

18400 Livernois Ave Detroit, MI 48221-3295
Detroit metro Census 538400 DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$796k
Blend (final) Blend
$375k

Owner & transaction history

since 2016
3 recorded transactions
2016
Price N/A
2009
Price N/A
1969
Price N/A

Zoning & alternative use

B2 · Detroit, MI
Zoning description

ity Residential District. (Code 1984, § 61-7-2; Ord. No. 11-05, § 1(61-7-2), eff. 5-28-2005) Sec. 50-7-3. - Business Districts. Business districts within the City are as follows: (1) B1 Restricted Business District. (2)…

General category COMMERCIAL
Top alternative use upside
Commercial (general) $1.5M +44.9%
Restaurant $1.5M +44.8%
Retail stores $1.2M +22.6%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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