Commercial Real Estate in Livonia, Michigan offers a unique opportunity for investors to capitalize on the city's strong economy and diverse demographics. With a population of around 100,000, Livonia provides a stable and growing market for businesses to thrive. Commercial Real Estate in Livonia can represent a wide range of investments, from retail spaces to office buildings, and even industrial properties. The city's strategic location, approximately 20 miles northwest of downtown Detroit, makes it an attractive option for businesses looking to establish a presence in the region. Livonia's infrastructure, including transportation services provided by the Detroit Department of Transportation, and its access to major employers like Ford Motor Company and Trinity Health, make it an ideal location for Commercial Real Estate investments. Additionally, the city's educational institutions, such as Madonna University and Schoolcraft College, and cultural amenities like the Livonia Public Library, contribute to its appeal. With its rich history and strong economy, Livonia is a great place for business and travel, with attractions like St. Mary Mercy Hospital and the Livonia Community Recreation Center.
Livonia's Commercial Real Estate market offers a diverse range of opportunities, with 74 listings available. The city's average price per square foot for Commercial Real Estate is $185 USD, with an average size of 21,997 square feet. The largest property available is 215,000 square feet. Industrial Properties in Livonia offer a unique opportunity for businesses to establish a strong presence in the region, with access to major transportation routes and infrastructure. Apartment Buildings in Livonia provide a stable source of income for investors, with a growing demand for housing in the area. Office Properties in Livonia are ideal for businesses looking to establish a professional presence, with access to major employers and educational institutions. Hotels in Livonia offer a unique opportunity for investors to capitalize on the city's growing tourism industry. Overall, Livonia's Commercial Real Estate market offers a diverse range of opportunities for investors, with its strong economy, infrastructure, and amenities making it an attractive option for businesses and travelers alike.
What financing options are available for purchasing commercial real estate?
When it comes to financing options for purchasing commercial real estate in Livonia, Michigan, there are several alternatives to consider, including:
- Traditional commercial mortgages offered by banks and credit unions, which typically require a 20-30% down payment and offer fixed or adjustable interest rates;
- Small Business Administration (SBA) loans, which provide more favorable terms, such as lower down payments and longer repayment periods, for qualified borrowers;
- Private money lenders and hard money loans, which offer shorter-term, higher-interest financing options for investors and developers.
How do cap rates factor into commercial real estate purchases?
When considering commercial real estate purchases in Livonia, Michigan, cap rates play a crucial role in determining the potential return on investment. With an average cap rate of 7.25%, investors can gauge the property's potential income-generating capacity, making it essential to understand what is a cap rate and how it affects their investment decisions.
What is considered a commercial property?
In Livonia, Michigan, a commercial property is typically defined as a building or land used for business or commercial purposes, such as office spaces, retail stores, restaurants, warehouses, and manufacturing facilities. With 74 available listings of commercial real estate for sale in Livonia, investors and business owners have a range of options to choose from, with average prices per square foot of $185 USD and average sizes of 21,997 square feet.
