Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    31411 8 Mile Rd Livonia, MI 48152

    • Manufacturing properties
    • 5,166 SF
    • 0.90 lot acres
    For Sale
    View listing
    $750,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1168761
    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

    • Custom Design Security / Security System Installation Service

    Property Details for 31411 8 Mile Rd

    Year built
    1951
    Construction
    BRICK
    Lot size
    0.90 lot acres
    Property size
    5,166 SF
    Property type
    Manufacturing properties
    APN
    46 009 99 0005 001
    APU
    46009990005001

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $547,000
      Market price range: $196k - $547k
      AI Estimate
      $547,000
      Market price range: $196k - $547k

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $415,000
      Current use
      OFFICE BUILDING
      $730,000
      Change: +76% Conversion: Difficult
      RESTAURANT
      $535,000
      Change: +29% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $535,000
      Change: +28% Conversion: Difficult
      MEDICAL BUILDING
      $485,000
      Change: +17% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $410,000
      Change: -1% Conversion: Difficult
      RETAIL STORES
      $395,000
      Change: -5% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Livonia
    County
    Wayne
    State
    Michigan
    Longitude
    -83.3569
    Latitude
    42.4405
    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
    $7,171
    $0.00
    $0.00
    $215,900
    -
    $0.00
    $0.00
    $431,800

    Comparable in this City

    • Value Estimation by Request
      7,553 SF

      32433 8th Mile Rd

      MANUFACTURING (LIGHT) • 7,553 SF
      32433 8th Mile Rd, Livonia, MI 48152-1301
      View Details
    • Value Estimation by Request
      7,551 SF

      20525 Milburn St

      MANUFACTURING (LIGHT) • 7,551 SF
      20525 Milburn St, Livonia, MI 48152-1619
      View Details
    • Value Estimation
      $2,195,000
      20,706 SF

      30625 8th Mile Rd

      MANUFACTURING (LIGHT) • 20,706 SF
      30625 8th Mile Rd, Livonia, MI 48152-4058
      View Details
    • Value Estimation by Request
      2,450 SF

      30029 8th Mile Rd

      MANUFACTURING (LIGHT) • 2,450 SF
      30029 8th Mile Rd, Livonia, MI 48152-1811
      View Details
    • Value Estimation
      $1,500,000
      15,519 SF

      31693 8th Mile Rd

      MANUFACTURING (LIGHT) • 15,519 SF
      31693 8th Mile Rd, Livonia, MI 48152-4217
      View Details
    • Value Estimation
      $705,000
      6,792 SF

      32727 8th Mile Rd

      MANUFACTURING (LIGHT) • 6,792 SF
      32727 8th Mile Rd, Livonia, MI 48152-1302
      View Details

    Similar Nearby for Sale

    • $525,000
      3,822 SF

      Livonia Medical Office Building

      Spacious medical office, prime location, ample parking.
      18306 Middlebelt Rd, Livonia, MI 48152
      View Details
    • $500,000
      8,875 SF

      Livonia Industrial Space - Huge Potential

      Spacious industrial building, ample parking, ideal for various uses.
      27531 Grand River St, Livonia, MI 48152
      View Details
    • $750,000
      5,222 SF

      Livonia Industrial Building For Sale

      Commercial building with M-1 zoning and outside storage.
      31411 8 Mile Rd, Livonia, MI 48152
      View Details
    • $525,000
      0.45 Acres

      Livonia Medical Office Building

      Spacious medical office, prime location, ample parking.
      18306 Middlebelt Rd, Livonia, MI 48152
      View Details
    • $299,900
      2.06 Acres

      8 Mile Road Commercial Land

      2.06 Acres, Livonia, MI - Prime Location
      29005 8 Mile Rd, 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

    Similar Nearby for Lease

    • Contact for pricing
      10,000 SF

      Livonia Flex Space - 10,000 SF

      Versatile Livonia industrial space; highway access.
      19711 Middlebelt Rd, Livonia, MI 48152
      View Details
    • $2,600 /Mo

      Warehouse Space on 7 Mile

      2,500 SF warehouse space for lease on 7 Mile.
      33309 7 Mile Rd, Livonia, MI 48152
      View Details
    • Contact for pricing
      22,661 SF

      Mid Eight Plaza Retail Space

      Livonia Retail Space: 3,200 sq ft available.
      29105 8 Mile Rd, Livonia, MI 48152
      View Details
    • $18 SF/Yr
      20,984 SF

      Livonia Medical Office Space

      Prime Medical Office, 1,445 SF Available
      37655-37699 6 Mile Rd, Livonia, MI 48152
      View Details
    • $14 SF/Yr
      4,774 SF

      Livonia Executive Office Suites

      Premium I-275 Corridor Office Space
      19575 Victor Pkwy, Livonia, MI 48152
      View Details
    • $16 SF/Yr
      4,301 SF

      Livonia Retail Space For Rent

      Neighborhood center with spaces suitable for retail, office, or medical.
      37104-37176 6 Mile Rd, Livonia, MI 48152
      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.
    31411 8 Mile Rd
    Livonia, MI 48152
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.