Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    29157 5th Mile Rd Livonia, MI 48154-3825
    Property profile & analytics

    29157 5th Mile Rd Livonia, MI 48154-3825

    View on Map
    • Commercial real estate
    • 1,000 SF
    • 0.05 lot acres
    Off-Market
    Last Sale May 20, 2025
    Property ID
    US43-1166300
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Action Construction Co. / Construction Company

    Property Details for 29157 5th Mile Rd

    Year built
    1946
    Construction
    CONCRETE BLOCKS
    Lot size
    0.05 lot acres
    Property size
    1,000 SF
    Property type
    Commercial real estate
    APN
    46 094 01 0126 000
    APU
    46094010126000

    Description

    This 854-square-foot retail building, located at 29157 Five Mile Road in Livonia, Michigan, presents a fantastic investment opportunity. Built in 1946 and renovated in 2000, the property sits on a 0.05-acre lot and boasts C-2 general business zoning, allowing for diverse uses including retail, office, and medical. Currently configured as office space, the building offers ample flexibility for a variety of businesses. The property includes six on-site parking spaces, a significant advantage for customers and employees. Its strategic location on Five Mile Road provides exceptional visibility, with an estimated 18,561 vehicles passing daily. Convenient access to I-96 and I-275 freeways ensures easy accessibility for customers and employees. The asking price for this well-maintained property is $149,000. The Wayne County property's APN is 46-094-01-0126-000. This is a rare opportunity to acquire a versatile commercial property in a thriving Livonia location. Don't miss out on this chance to own a piece of this high-traffic corridor.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Livonia
    County
    Wayne
    State
    Michigan
    Longitude
    -83.3329
    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
    $1,885
    $0.00
    $0.00
    $42,200
    -
    $0.00
    $0.00
    $84,400

    Comparable in this City

    • Value Estimation by Request
      0.77 Acres

      15491 Farmington Rd

      COMMERCIAL (GENERAL) • 0.77 Acres
      15491 Farmington Rd, Livonia, MI 48154-2870
      View Details
    • Value Estimation by Request
      2.08 Acres

      28440 Lyndon St

      COMMERCIAL (GENERAL) • 2.08 Acres
      28440 Lyndon St, Livonia, MI 48154-4522
      View Details
    • Value Estimation
      $7,050,000
      76,117 SF

      28811 Jamison St

      COMMERCIAL (GENERAL) • 76,117 SF
      28811 Jamison St, Livonia, MI 48154-4059
      View Details
    • Value Estimation
      $7,100,000
      76,117 SF

      28815 Jamison St

      COMMERCIAL (GENERAL) • 76,117 SF
      28815 Jamison St, Livonia, MI 48154-4067
      View Details
    • Value Estimation
      $7,200,000
      45,000 SF

      14900 Middlebelt Rd

      COMMERCIAL (GENERAL) • 45,000 SF
      14900 Middlebelt Rd, Livonia, MI 48154-4033
      View Details
    • Value Estimation by Request
      1,008 SF

      14255 Stark Rd

      COMMERCIAL (GENERAL) • 1,008 SF
      14255 Stark Rd, Livonia, MI 48154-5460
      View Details

    Similar Nearby for Sale

    • $59,900
      1,200 SF

      Livonia Industrial Flower Shop

      Thriving Flower Shop, High Growth Potential
      37653 5 Mile Rd, Livonia, MI 48154
      View Details
    • $339,000

      Commercial Building on Middlebelt Road

      3,300 SF commercial building with high traffic and parking.
      15210 Middlebelt Rd, Livonia, MI 48154
      View Details
    • Contact for pricing
      1,885 SF

      Profitable Dry Cleaner Business Opportunity

      Turnkey dry cleaner business with high cash flow in Livonia.
      15260 Middlebelt Rd, Livonia, MI 48154
      View Details
    • $525,000

      Downtown Livonia Medical Office Building

      2,761 sq ft medical office building in downtown Livonia.
      15357 Farmington Rd, Livonia, MI 48154
      View Details
    • $399,000

      Freestanding Retail Building on Middlebelt

      3,000 SF commercial building with prime frontage and open layout.
      15282 Middlebelt Rd, Livonia, MI 48154
      View Details
    • $140,000
      2,450 SF

      Land Approved for Medical Office

      Land approved for a 2,450 Sq. Ft. medical office.
      15150 Levan Rd, Livonia, MI 48154
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,350 SF

      Livonia Retail Space For Rent

      Retail space available in active neighborhood shopping center in Livonia.
      29441-29567 5 Mile Rd, Livonia, MI 48154
      View Details
    • Contact for pricing

      Levan Road Commercial Space

      Commercial space available for rent on Levan Road.
      15130-15146 Levan Rd, Livonia, MI 48154
      View Details
    • $1,332 /Mo
      Pending

      Commercial Space on Middlebelt, Livonia

      Versatile commercial space suitable for retail or office use.
      16312 Middlebelt Rd, Livonia, MI 48154
      View Details
    • Contact for pricing

      Attractive Office Building with Updates

      Updated office building with ample parking and convenient location.
      15435 Middlebelt Rd, Livonia, MI 48154
      View Details
    • Contact for pricing
      16,480 SF

      Livonia Metro-Plex Office/Flex Space

      Office and flex spaces available in premier high-tech park.
      13955-13975 Farmington Rd, Livonia, MI 48154
      View Details
    • $3,500 /Mo
      2,720 SF

      Modern Medical Spa Space Available

      Newly renovated medical spa space for rent in Livonia.
      15645 Farmington Rd, Livonia, MI 48154
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    29157 5th Mile Rd
    Livonia, MI 48154-3825
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    29157 5th Mile Rd, Livonia, MI, 48154
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!