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Property profile & analytics
FOR LEASE
Commercial real estate
38701 7 Mile Rd, Livonia, MI 48152
Entity Owned
13-yr Hold
Free & Clear
Property ID
US43-1119880
For Lease
1 / 11
$19 SF/Yr
38701 7 Mile Rd, Livonia, MI 48152
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1988
Total area
138,636 SF
Lot
6.47 ac (281,833 SF)
APN
46 189 99 0032 000
UPID
US43-1119880
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
-
Thirdware Solution Inc (Bike/Boat/Book/etc) Store Corporate Office
-
Tass Americas (Bike/Boat/Book/etc) Store Corporate Office
-
Perficient Corporate Office
-
Parker-Hannifin Corporation Engineer
-
Swad & Company CPA's Accounting Firm Tax Preparation
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$10.52M
Blend (final)
Blend
$10.52M
Owner & transaction history
Us Bank NA Series 2002-mw1 · 13 yrs held
Us Bank NA Series 2002-mw1
since 2012
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$14.4M
+0.3%
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
COMMERCIAL (GENERAL)
$14,320,000
Current use
RESTAURANT
$14,355,000
Change: +0% · Conversion: Difficult
MEDICAL BUILDING
$13,055,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$10.52M
Range $9.47M – $11.57M · ±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
$76 / 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
$232,986
Tax year 2023
Assessed value
$4,267,500
Assessed 2024
Previous assessed
$4,124,900
+3.5% YoY
Effective rate
5.46%
On assessed value
Total market value
$8,535,000
Applied tax rate
82,095.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Lease
Year built
1988
Heating
FORCED AIR
Stories
4
Total area
138,636 SF
Lot
6.47 ac (281,833 SF)
APN
46 189 99 0032 000
UPID
US43-1119880
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
COMMERCIAL (GENERAL) Current
Est. value
$14.3M
RESTAURANT
Est. value
$14.4M
MEDICAL BUILDING
Est. value
$13.1M
COMMERCIAL (GENERAL) Current
RESTAURANT
MEDICAL BUILDING
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
1988
Heating
FORCED AIR
Stories
4
Lot
6.47 ac
Current owner
From public records · entity-resolved
Us Bank NA Series 2002-mw1
Entity
Free & Clear · 13 yrs held
Mailing address
38701 7TH MILE RD, LIVONIA, MI 48152-1091
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 11, 2016
—
Universal Props Smc Livonia Ll
—
Deed
related
$17,550,000 · Citigroup Global Markets Rlty
Aug 29, 2016
—
Universal Properties Three LLC
—
Deed
related
$3,500,000 · Comerica Bk
Nov 30, 2012
$30,000,000
Us Bank NA Series 2002-mw1
Deputy Sheriff Of Wayne County
Trustees Deed
related
—
—
—
Universal Properties Three LLC
—
Deed Of Trust
related
$12,000,000 · Comerica Bk
—
—
Universal Properties Three LLC
—
Loan Modification
related
$3,500,000 · Comerica Bk
—
—
Universal Props Smc Livonia Ll
—
Deed Of Trust
related
$17,550,000 · Citigroup Global Markets Rlty
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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