Property profile

29005 8 Mile Rd Livonia, MI 48152

FOR SALE
Commercial land
Property ID
US43-1086556
1,392 SF 0.58 ac lot Built 1923
Trust Owned 10-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional 2.06-acre commercial land parcel presents a unique investment opportunity on 8 Mile Road in Livonia, Michigan. The property boasts 269 feet of frontage on this heavily trafficked thoroughfare, experiencing over 20,000 vehicles daily, ensuring significant visibility for any development. The site's depth measures 334 feet, offering ample space for a variety of commercial projects. Strategically located just east of Middlebelt Road, this land benefits from easy access to major freeways including I-696, I-275, I-96, and the Southfield Freeway, providing excellent connectivity throughout the metro area. The property comprises three parcels: a western parcel zoned C1, Local Business, and two eastern parcels zoned OS, Office Service. The combined zoning designations allow for a multitude of commercial uses, providing flexibility for potential buyers. The asking price of $299,900 makes this a compelling opportunity to acquire prime commercial real estate in a high-traffic area with excellent access to major transportation arteries. The property's APN is C1, Local Business & OS, Office Service, and the specific zoning designations are 46-002-01-0351-000, 46-002-01-0350-000, and 46-002-01-0349-000. This property is priced to sell and offers significant potential for future development and return on investment. The address is 29005, 29009, and 29023 Eight Mile Road, Livonia, MI 48152.

Property profile

Verified
Property type Commercial land
Use group VACANT COMMERCIAL LAND
Year built 1923
Total area 1,392 SF
Lot 0.58 ac (25,265 SF)
APN 46 002 01 0351 000
UPID US43-1086556

Cap rate & NOI

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

Location

29005 8 Mile Rd Livonia, MI 48152
Livonia metro Census 556100 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
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Comparable Approach Comparable
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Blend (final) Blend
$135k

Owner & transaction history

since 2015
1 recorded transaction
2015
Price N/A

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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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