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Property profile & analytics
OFF-MARKET
Estimated value
$1,410,000
Strip malls
28400 5th Mile Rd, Livonia, MI 48154-3824
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US43-1214487
Property summary
AI-generated overview
Invest in this thriving Livonia retail center, Harrison Square Plaza. This well-maintained strip center offers two available spaces, each ranging from 1,000 to 1,200 square feet. The property boasts a total of 12,000 square feet and features a strong tenant mix, including established businesses like Wing Snob and Skylar Laundromat. This prime location provides excellent visibility and accessibility for your business, ensuring high foot traffic and potential for growth. The spaces are ideal for a variety of retail or restaurant concepts. The property is easily accessible and situated in a high-traffic area of Livonia, offering significant potential for customer reach. This is a fantastic opportunity to establish or expand your business in a vibrant and well-established commercial center. The available spaces are ready for immediate occupancy, allowing for a quick and efficient start to your operations. Don't miss this chance to secure your place in this successful retail destination. Contact us today to schedule a viewing and learn more about leasing opportunities.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1973
Construction
BRICK
Total area
12,200 SF
Lot
1.19 ac (51,836 SF)
APN
46 051 99 0063 000
UPID
US43-1214487
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
-
Cosmic Comics And Toys (Bike/Boat/Book/etc) Store Newspaper & Magazine
-
Girl Code Studio Salon Hair Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.32M
Blend (final)
Blend
$1.41M
Owner & transaction history
Livonia Property Two LLC · 4 yrs held
Livonia Property Two LLC
since 2022
Last sale
$1.5M
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.7M
+77.9%
Restaurant
$1.3M
+30.1%
Commercial (general)
$1.3M
+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
$1,870,000
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
$970,000
Current use
OFFICE BUILDING
$1,725,000
Change: +78% · Conversion: Moderate
RESTAURANT
$1,265,000
Change: +30% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,260,000
Change: +30% · Conversion: Easy
MEDICAL BUILDING
$1,150,000
Change: +18% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$980,000
Change: +1% · Conversion: Difficult
RETAIL STORES
$930,000
Change: -4% · Conversion: Easy
Blend value · Realmo final
$1.41M
Range $1.27M – $1.55M · ±10% · vs last sale $1.50M (Jun 22 2022)
Last sale anchor
$1.50M
Jun 22 2022
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
$116 / 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
$31,869
Tax year 2023
Assessed value
$567,200
Assessed 2024
Previous assessed
$540,000
+5.0% YoY
Effective rate
5.62%
On assessed value
Total market value
$1,134,400
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
Off-Market
Year built
1973
Construction
BRICK
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
12,200 SF
Lot
1.19 ac (51,836 SF)
APN
46 051 99 0063 000
UPID
US43-1214487
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
$970,000
OFFICE BUILDING
Est. value
$1.7M
RESTAURANT
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$1.2M
INDUSTRIAL (GENERAL)
Est. value
$980,000
RETAIL STORES
Est. value
$930,000
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
1973
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.19 ac
Current owner
From public records · entity-resolved
Livonia Property Two LLC
Entity
Mailing address
28400 5TH MILE RD, LIVONIA, MI 48154-3824
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 22, 2022
$1,500,000
Livonia Property Two LLC
Em & Hs Plaza LLC
Warranty Deed
$1,125,000 · Community Choice Cu
Jan 19, 2011
—
Em & Hs Plaza LLC
Murad,edward M & Hana S
Quit Claim Deed
related
—
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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