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27811 5 Mile Rd

Livonia, MI
Floors
1
Total Size
4,370 sqft
Zoning
COMMERCIAL GENERAL BUSINESS
Year Constructed
1987
Year Renovated
0
Building Class

About 27811 5 Mile Rd

Great Opportunity to own a performing strip center at a 16% Cap Rate which could improve with one new tenant. Tenants include long standing Lila's Pierogi and Diva Dog Salon with daughter's clothing business taking up 1500 SF which could be open space for another $1500 a month rent increasing cap rate. Located on busy 5 Mile in Livonia next to a car wash. 24 parking spots with 8 in the front. Investors call, property management available. - Parking description: 8 Parking spots in the front 16 in the back and could have a few spots on the side of the building. - Area description: Great Retail Street with plenty of small businesses up and down Five Mile. - Number of buildings: 3 - Building condition: Good - Tenancy: Multiple Tenants

Internet Providers for 27811 5 Mile Rd

Provider Technology Max Download Speed Max Upload Speed
Bright House Networks Cable
100 Mb/s
25 Mb/s
AT&T Michigan DSL
25 Mb/s
3 Mb/s
MegaPath Corporation Copper Wireline
6 Mb/s
6 Mb/s

The City: Livonia

The typical asking rate per listing is in the $20's per square foot per year. The Livonia region is seeing a decrease in rates. In the last 3 months, the median rate decreased $2 per sqft per year. That's a 10% decline in rent.

Compared to the rest of the Metro Detroit market, the Livonia submarket has greater rates, and you'll need to pay a premium to be in this hot region.

Median Rate Median Size
Livonia $23
/sqft/yr
3,662
sqft
Median Rate Median Size
Metro Detroit $21
/sqft/yr
2,528
sqft

Median Rate over Time in Livonia