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    Property profile & analytics

    31395 7th Mile Rd Livonia, MI 48152-4334

    • Office buildings
    • 8,768 SF
    • 1.00 lot acres
    OFF-MARKET
    Last Sale
    Apr 29, 2022
    Value Estimations
    $805,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0906431
    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

    • Todaro Dental of Livonia / Dental Office
    • Sollars and Associates - Livonia - Counseling and Psychology Services / Mental Health Service / Psychologist
    • The Greene Project Counseling / Crisis Center / Medical Clinic
    • 3Birds Transportation / Freight Service / Logistics Company
    • Catharine M. Nolan-Belanger, DC / Alternative Medicine Practice

    Property Details for 31395 7th Mile Rd

    Year built
    1988
    Construction
    CONCRETE BLOCKS
    Lot size
    1.00 lot acres
    Property size
    8,768 SF
    Property type
    Office buildings
    APN
    46 042 99 0024 000
    APU
    46042990024000

    Description

    This 10,000 square foot office building, located at 31395 W Seven Mile Rd in Livonia, Michigan (zip code 48152), presents a fantastic leasing opportunity. Situated in Wayne County, this multi-tenant property offers a blend of traditional and executive office spaces. Currently, 1,700 square feet are available for lease, with one space measuring 500 square feet immediately ready for occupancy. The building enjoys a highly visible hard corner location, providing excellent exposure and accessibility. The property's total square footage is 10,000 square feet, indicating ample space for various business needs. This location offers convenient access to major roadways, making commuting easy for employees and clients. The building is ideal for businesses seeking a well-established presence in a thriving Livonia community. Interested parties are encouraged to inquire about lease terms and available space configurations. The property is classified as a traditional office building and also offers executive office suites, catering to a diverse range of business requirements. This is a prime opportunity to secure a well-located and versatile office space in a desirable area of Livonia.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $805,000
      Market price range: $805k - $1.63M
      AI Estimate
      $805,000
      Market price range: $805k - $1.63M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,240,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Livonia
    County
    Wayne
    State
    Michigan
    Longitude
    -83.3548
    Latitude
    42.4261
    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
    $17,660
    $0.00
    $0.00
    $308,700
    -
    $0.00
    $0.00
    $617,400

    Comparable in this City

    • Value Estimation
      $3,115,000
      20,356 SF

      37651 Pembroke Ave

      OFFICE BUILDING • 20,356 SF
      37651 Pembroke Ave, Livonia, MI 48152-1050
      View Details
    • Value Estimation by Request
      2,600 SF

      20337 Middlebelt Rd

      OFFICE BUILDING • 2,600 SF
      20337 Middlebelt Rd, Livonia, MI 48152-2003
      View Details
    • Value Estimation
      $47,265,000
      514,630 SF

      39200 6th Mile Rd

      OFFICE BUILDING • 514,630 SF
      39200 6th Mile Rd, Livonia, MI 48152-2656
      View Details
    • Value Estimation
      $13,330,000
      100,448 SF

      19975 Victor Pkwy, Unit 2

      OFFICE BUILDING • 100,448 SF
      19975 Victor Pkwy, Livonia, MI 48152-7001
      View Details
    • Value Estimation
      $2,890,000
      20,658 SF

      39111 6th Mile Rd

      OFFICE BUILDING • 20,658 SF
      39111 6th Mile Rd, Livonia, MI 48152-3926
      View Details
    • Value Estimation
      $11,360,000
      123,696 SF

      17177 Laurel Dr

      OFFICE BUILDING • 123,696 SF
      17177 Laurel Dr, Livonia, MI 48152-3160
      View Details

    Similar Nearby for Sale

    • $1,150,000

      Office Building Near 7 Mile

      Office building for sale in high-growth area.
      19323 Farmington 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
      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
    • Contact for pricing
      120,000 SF

      Livonia Corporate Tower: Redevelopment Opportunity

      120,000 SF Office Building, Redevelopment Potential
      29200 Vassar St, Livonia, MI 48152
      View Details
    • 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

    Similar Nearby for Lease

    • Contact for pricing
      1,280 SF

      Office Building Near I-275

      Five-story office building with move-in ready suites available for rent.
      17197 N Laurel Park Dr, Livonia, MI 48152
      View Details
    • $15 SF/Yr
      300,000 SF

      Class A Office Space Available

      Class A office space for lease in Livonia, Michigan.
      17290-17800 North Laurel Park Dr, 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
    • $17 SF/Yr
      1,799 SF

      Renovated Office Suites Available

      Professionally managed, renovated office suites with tenant-controlled HVAC, near I-275/I-96.
      37601 Pembroke Ave, Livonia, MI 48152
      View Details
    • $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
    • $19 SF/Yr
      19,196 SF

      Prime Livonia Executive Suites

      Class A Office Space, Multiple Sizes Available
      38777 6 Mile Rd, Livonia, MI 48152
      View Details
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    Livonia, MI 48152-4334
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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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