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Property profile & analytics
OFF-MARKET
Estimated value
$5,175,000
Outlet malls
29150 7th Mile Rd, Livonia, MI 48152-3504
Entity Owned
6-yr Hold
Free & Clear
Property ID
US43-1806187
Property summary
AI-generated overview
This exceptional 51,467 square foot retail property is situated on a 4.68-acre lot at 29150 W. 7 Mile Rd, Livonia, MI 48152. Its convenient location, just off the intersection of 7 Mile Road and Middlebelt Road, offers unparalleled visibility and accessibility. The freestanding building benefits from its proximity to major retailers including Walmart, Kohl's, Sears, and LA Fitness, ensuring high foot traffic and brand recognition. The property's versatile design makes it suitable for a variety of uses, including retail, storage, recreational facilities, or entertainment venues. The substantial square footage provides ample space for a large-scale operation or the potential for multiple tenants. This presents a unique opportunity for businesses seeking a prominent location in a thriving commercial area of Wayne County, Michigan. The property's size and location make it an attractive investment for those seeking a strong return on investment in a high-demand market. This is a multi-tenant building offering significant potential for growth and profitability.
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1967
Total area
52,208 SF
Lot
4.68 ac (203,861 SF)
APN
46 003 01 0415 004
UPID
US43-1806187
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
-
Amazon Counter - Livonia Budget Storage (PUDO) Courier Service Postal Service
-
U-Haul Neighborhood Dealer Car Rental Facility
-
Livonia Budget Storage Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.18M
Blend (final)
Blend
$5.18M
Owner & transaction history
Livonia Budget Storage LLC · 6 yrs held
Livonia Budget Storage LLC
since 2019
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$7.4M
+85.9%
Restaurant
$5.4M
+36.0%
Commercial (general)
$5.4M
+35.6%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$3,975,000
Current use
OFFICE BUILDING
$7,390,000
Change: +86% · Conversion: Easy
RESTAURANT
$5,405,000
Change: +36% · Conversion: Easy
COMMERCIAL (GENERAL)
$5,395,000
Change: +36% · Conversion: Easy
MEDICAL BUILDING
$4,915,000
Change: +24% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$4,205,000
Change: +6% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$4,155,000
Change: +4% · Conversion: Moderate
Blend value · Realmo final
$5.18M
Range $4.66M – $5.69M · ±10%
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
$99 / 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
$82,096
Tax year 2023
Assessed value
$1,632,700
Assessed 2024
Previous assessed
$1,605,400
+1.7% YoY
Effective rate
5.03%
On assessed value
Total market value
$3,265,400
Applied tax rate
63,090.0000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1967
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
52,208 SF
Lot
4.68 ac (203,861 SF)
APN
46 003 01 0415 004
UPID
US43-1806187
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
RETAIL STORES Current
Est. value
$4.0M
OFFICE BUILDING
Est. value
$7.4M
RESTAURANT
Est. value
$5.4M
COMMERCIAL (GENERAL)
Est. value
$5.4M
MEDICAL BUILDING
Est. value
$4.9M
INDUSTRIAL (GENERAL)
Est. value
$4.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.2M
RETAIL STORES Current
OFFICE BUILDING
RESTAURANT
COMMERCIAL (GENERAL)
MEDICAL BUILDING
INDUSTRIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
1967
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
4.68 ac
Current owner
From public records · entity-resolved
Livonia Budget Storage LLC
Entity
Free & Clear · 6 yrs held
Mailing address
29150 7TH MILE RD, LIVONIA, MI 48152-3504
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
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
Apr 19, 2022
—
Livonia Budget Storage LLC
—
Deed
related
$4,500,000 · Bank Of Ann Arbor
Dec 19, 2019
$1,575,000
Livonia Budget Storage LLC
Tru 2005 Re I LLC
Grant Deed
—
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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