29150 7 Mile RdLivonia, MI 48152

Property Details for 29150 7 Mile Rd

Year built

1967

Lot size

4.68 AC

Property size (Sq ft)

52,208 SF

Property type

Outlet malls

APN

46 003 01 0415 004

APU

46003010415004

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $13,137,949

  6.5%

  $12,127,337

  7%

  $11,261,099

• Comparable approach

  Method

  Valuation

  Relative Method

  $12,306,512

  Geo Method

  $12,306,512

• Alternative Use

  Use

  Valuation

  Residential

  $10,229,863

  Hospitality

  $9,370,499

  Educational

  $7,796,146

  Medical

  $8,064,266

  Retail

  $12,127,337

Location Insight

City

Livonia

County

Wayne

State

Michigan

Latitude

42.4283

Longitude

-83.3338

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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