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

    28477 7 Mile Rd Livonia, MI 48152

    • Medical offices
    • 4,392 SF
    • 0.78 lot acres
    For Lease
    View listing
    $1,700 /Mo
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1554003
    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

    • Ali El-Khalil / Physician

    Property Details for 28477 7 Mile Rd

    Year built
    1987
    Construction
    BRICK
    Lot size
    0.78 lot acres
    Property size
    4,392 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    46 046 99 0049 000
    APU
    46046990049000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $567,000
      Market price range: $279k - $592k
      AI Estimate
      $567,000
      Market price range: $279k - $592k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $415,000
      Current use
      OFFICE BUILDING
      $620,000
      Change: +50% Conversion: Easy
      COMMERCIAL (GENERAL)
      $455,000
      Change: +10% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $350,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Livonia
    County
    Wayne
    State
    Michigan
    Longitude
    -83.327
    Latitude
    42.4268
    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
    $12,428
    $0.00
    $0.00
    $318,400
    -
    $0.00
    $0.00
    $636,800

    Comparable in this City

    • Value Estimation
      $1,690,000
      12,539 SF

      33400 6th Mile Rd

      MEDICAL BUILDING • 12,539 SF
      33400 6th Mile Rd, Livonia, MI 48152-3143
      View Details
    • Value Estimation by Request
      3,510 SF

      18320 Farmington Rd

      MEDICAL BUILDING • 3,510 SF
      18320 Farmington Rd, Livonia, MI 48152-3230
      View Details
    • Value Estimation by Request
      5,150 SF

      20010 Farmington Rd

      MEDICAL BUILDING • 5,150 SF
      20010 Farmington Rd, Livonia, MI 48152-1408
      View Details
    • Value Estimation by Request
      1,540 SF

      33521 6th Mile Rd

      MEDICAL BUILDING • 1,540 SF
      33521 6th Mile Rd, Livonia, MI 48152-3129
      View Details
    • Value Estimation by Request
      4,500 SF

      19920 Farmington Rd

      MEDICAL BUILDING • 4,500 SF
      19920 Farmington Rd, Livonia, MI 48152-1409
      View Details
    • Value Estimation
      $1,050,000
      9,867 SF

      28711 8th Mile Rd

      MEDICAL BUILDING • 9,867 SF
      28711 8th Mile Rd, Livonia, MI 48152-2040
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      30,000 SF

      Renovated Office/Medical Suites Available

      Professionally managed office/medical suites with tenant-controlled HVAC, near I-275 & I-96.
      37701-37785 Pembroke Ave, Livonia, MI 48152
      View Details
    • Contact for pricing
      19,210 SF

      Renovated Office/Medical Building For Sale

      Renovated office/medical building with direct suite entrances and tenant-controlled HVAC.
      34441 W 8 Mile Rd, Livonia, MI 48152
      View Details
    • Contact for pricing
      19,968 SF

      Renovated Office/Medical Building For Sale

      Renovated office/medical building with suite entrances and HVAC control.
      37651-37695 Pembroke Ave, Livonia, MI 48152
      View Details
    • Contact for pricing
      5,846 SF

      Medical Office Building For Sale

      5,846 SF medical office building on 1.51 acres.
      38525 8 Mile Rd, Livonia, MI 48152
      View Details
    • Contact for pricing
      100,597 SF

      Prime Livonia Office Space

      Class A Office Building, 100,597 SF
      19975 Victor Pkwy, Livonia, MI 48152
      View Details
    • Contact for pricing
      20,000 SF

      Livonia Office Space For Sale

      Single-story office building with direct suite entry in Livonia.
      37601-37649 Pembroke St, Livonia, MI 48152
      View Details

    Similar Nearby for Lease

    • $1,700 /Mo

      Medical Unit with Exam Rooms

      Fully built-out medical unit available for rent with parking.
      28477 7 Mile Rd, Livonia, MI 48152
      View Details
    • $18 SF/Yr
      20,984 SF

      Livonia Medical Office Space

      Prime Medical Office, 1,445 SF Available
      37655-37699 6 Mile Rd, Livonia, MI 48152
      View Details
    • $4,622 /Mo

      Move-in Ready Office/Medical Space

      Newly built office/medical space with high-end finishes in Livonia.
      37500 W 7 Mile Rd, Northville, MI 48152
      View Details
    • $16 SF/Yr
      3,725 SF

      Renovated Office/Medical Building For Rent

      Renovated office/medical building with direct suite entry and control.
      34441 8 Mile Rd, Livonia, MI 48152
      View Details
    • $16 SF/Yr
      5,159 SF

      Renovated Office/Medical Building For Rent

      Renovated office/medical building with private suite entrances and direct control.
      37651 Pembroke Ave, Livonia, MI 48152
      View Details
    • Contact for pricing
      11,057 SF

      Medical Spaces in Livonia Complex

      Flexible medical spaces with easy access and on-site management.
      39000 7 Mile Rd, Livonia, MI 48152
      View Details
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    Livonia, MI 48152
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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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