Retail Properties for sale in Livonia, Michigan offer a unique opportunity for investors to tap into the city's diverse economy and growing population of approximately 100,000 residents. As a hub for automotive, healthcare, education, and logistics, Livonia provides a strong foundation for retail businesses to thrive. With its proximity to Detroit and access to major highways, Retail Properties in Livonia are attractive to businesses looking to establish a presence in the region. The city's amenities, including the Livonia Public Library and Schoolcraft College, make it an attractive location for families and young professionals. Additionally, Livonia's geography, with its creeks and rivers, provides a unique setting for businesses looking to establish a presence in a scenic area. With 47 Retail Properties for sale, investors have a wide range of options to choose from.
Livonia's retail landscape is characterized by a mix of local boutiques and national chains, with opportunities for new businesses to establish themselves in the market. In addition to Retail Properties, Livonia is also home to Shopping Centers, such as the Livonia Marketplace, which offer a variety of retail and dining options. Restaurants, like those found on Plymouth Road, are also a staple of the city's culinary scene. Office Properties, like those located near the intersection of I-96 and I-275, provide a hub for businesses looking to establish a presence in the area. Hotels, such as the Embassy Suites by Hilton, offer accommodations for visitors and business travelers. With its diverse economy and growing population, Livonia is an attractive location for businesses looking to establish a presence in the region.
What is the average cap rate for retail properties in Livonia?
When it comes to retail properties in Livonia, investors can expect an average cap rate of 7.21%, which is a key metric to consider when evaluating potential investments. To better understand how this rate is calculated and what it means for your investment, be sure to check out our article on what is a cap rate, which provides a comprehensive overview of this important concept.
How do location and foot traffic affect retail property values?
When it comes to retail properties for sale in Livonia, location and foot traffic play a significant role in determining their values. Properties situated in areas with high foot traffic, such as those near major employers like Ford Motor Company and Trinity Health, or along busy commercial corridors, tend to command higher prices per square foot, with an average price per square foot of $289 USD and an average size of 15,792 square feet.
