28999 5th Mile Rd Livonia, MI 48154-3823
Property profile & analytics
28999 5th Mile Rd Livonia, MI 48154-3823
- Commercial real estate
- 1,921 SF
- 0.68 lot acres
Property ID
US43-1053548
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
- Citizens ATM / Atm
- Citizens / Bank / Loan Service
Property Details for 28999 5th Mile Rd
- Year built
- 1976
- Construction
- BRICK
- Lot size
- 0.68 lot acres
- Property size
- 1,921 SF
- Property type
- Commercial real estate
- APN
- 46 094 01 0263 000
- APU
- 46094010263000
Description
This exceptional investment opportunity presents a fee-simple ownership of a 1,921 square foot freestanding Citizens Bank branch located at 28999 Five Mile Rd, Livonia, MI 48154. The property sits on a 0.68-acre lot and boasts a drive-thru, catering to a densely populated area with over 286,000 residents within close proximity. The bank benefits from high traffic volume, exceeding $100 million in deposits. The property is currently under a triple-net (NNN) lease, absolving the owner of all landlord responsibilities. The lease, originally commenced on June 29, 2006, has a remaining term of approximately 1.6 years, followed by three 5-year renewal options. The lease includes annual rent increases of 1.5%. Built in 1976, this property offers a strong cap rate of 5.51% with a current NOI of $46,818 and an asking price of $850,000 ($442.48 per square foot). The property's strategic location benefits from high visibility and significant traffic volume, exceeding 60,000 vehicles per day on nearby Middlebelt and Five Mile Roads. Nearby businesses include McDonald's, Taco Bell, Little Caesars, Westborn Market, and many other national and local retailers. This is a rare opportunity to acquire a high-performing, low-maintenance investment property with a credit-rated corporate guarantor.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Livonia
- County
- Wayne
- State
- Michigan
- Longitude
- -83.3302
- Latitude
- 42.3979
- 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
$9,037
$0.00
$0.00
$154,000
-
$0.00
$0.00
$308,000
