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31425 5 Mile Rd
Livonia, MI 48154
Retail Property For Sale
Investment Highlights
- Signalized intersection location with full directional access and visibility on Five Mile and Merriman.
- CB-1 zoning designation provides flexibility for various commercial and adaptive reuse applications.
- Surrounding retail base includes Kroger, Ace Hardware, and quick-service dining near Livonia Plaza.
- Located on a 1.10-acre site with dual curb cuts and 40 surface parking spaces.
- Proximity to major highways, including I-96, and regional employment hubs.
- Strong local demographics with more than 79,000 residents and an average household income of $115,421 within three miles.
Executive Summary
Offered at $995,000, this former bank branch on Five Mile Road presents a rare owner-user or redevelopment opportunity in Livonia’s thriving commercial corridor. Positioned at the signalized intersection of Five Mile and Merriman, the property benefits from excellent visibility, easy ingress and egress, and high daily traffic counts of more than 30,000 combined vehicles.
The building sits on a 1.10-acre parcel with 40 parking spaces and curb cuts from both Five Mile and Merriman, creating ease of access for diverse future uses. Zoned CB-1 (Low Intensity Commercial), the site accommodates various business operations, including neighborhood retail, banking, or adaptive reuse concepts such as medical office or service retail.
Located just two miles from the I-96/Merriman interchange, the property offers connectivity throughout the Detroit metro region. Surrounding amenities include Livonia Plaza and numerous national brands, reinforcing strong consumer draw and retail synergy. With its functional design, ample parking ratio, and flexible zoning, this property delivers immediate conversion potential and long-term investment appeal in a densely populated area.
The building sits on a 1.10-acre parcel with 40 parking spaces and curb cuts from both Five Mile and Merriman, creating ease of access for diverse future uses. Zoned CB-1 (Low Intensity Commercial), the site accommodates various business operations, including neighborhood retail, banking, or adaptive reuse concepts such as medical office or service retail.
Located just two miles from the I-96/Merriman interchange, the property offers connectivity throughout the Detroit metro region. Surrounding amenities include Livonia Plaza and numerous national brands, reinforcing strong consumer draw and retail synergy. With its functional design, ample parking ratio, and flexible zoning, this property delivers immediate conversion potential and long-term investment appeal in a densely populated area.
Property Facts
Sale Type
Owner User
Property Type
Retail
Property Subtype
Bank
Building Size
3,410 SF
Building Class
C
Year Built
1979
Price
$995,000
Price Per SF
$291.79
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
1.10 AC
Zoning
CB-1 - Low Intensity Commercial
Parking
40 Spaces (11.73 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
Property Taxes
| Parcel Number | 46-085-01-0108-000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $426,700 |
Property Taxes
Parcel Number
46-085-01-0108-000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$426,700
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