27500 Schoolcraft Rd Livonia, MI 48150-2203
Property profile & analytics
27500 Schoolcraft Rd Livonia, MI 48150-2203
- Strip malls
- 43,912 SF
- 2.40 lot acres
Property ID
US43-4688814
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.
Location Intelligence
Current Use by Public Records
- FURNITURE DEPOT (FURNITURE & RUGS) / Furniture & Home Goods / Home Decor Store
Property Details for 27500 Schoolcraft Rd
- Year built
- 1960
- Lot size
- 2.40 lot acres
- Property size
- 43,912 SF
- Property type
- Strip malls
- Property subtype
- Shopping centers
- APN
- 46 096 02 0425 009
- APU
- 46096020425009
Description
Buckingham Plaza, located at 27500 Schoolcraft Road, Livonia, MI 48150, presents a compelling investment opportunity. This single-story, 24,725 square foot shopping center comprises eleven units and is currently leased to a diverse mix of tenants, including Snookers Pool & Pub, BBS Distilleries, and Prime Cleaners. The property boasts a strong annual gross rental income of $224,790. Situated in a high-traffic area of Livonia, Wayne County, the center benefits from a robust local economy. Within a three-mile radius, the population exceeds 99,000 residents, with an average household income of $66,729. This translates to a significant and stable customer base for the existing tenants. The property's financial performance is further enhanced by a net cash flow of $156,535 after accounting for expenses such as real estate taxes, insurance, and maintenance. The asking price for Buckingham Plaza is $1,840,000, representing a price per square foot of $74.42. This well-established shopping center offers a solid return on investment and significant potential for future growth. The property is situated on a prominent corner lot, offering excellent visibility and accessibility. The gross lease structure simplifies management and ensures consistent rental income. This is a rare opportunity to acquire a thriving retail property in a desirable location with proven financial performance.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,567,000
- AI Estimate
- $2,567,000
Market price range: $2.11M - $4.75MMarket price range: $2.11M - $4.75M -
Alternative Use
- Use
- Estimation
- NEIGHBORHOOD: SHOPPING CENTER
- $3,495,000 Current use
- MEDICAL BUILDING
- $4,135,000 Change: +18% Conversion: Difficult
- INDUSTRIAL (GENERAL)
- $3,565,000 Change: +2% Conversion: Difficult
- RETAIL STORES
- $3,345,000 Change: -4% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Livonia
- County
- Wayne
- State
- Michigan
- Longitude
- -83.3157
- Latitude
- 42.385
- 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
$55,115
$0.00
$0.00
$1,105,100
-
$0.00
$0.00
$2,210,200
