29200 Vassar St | Livonia, MI 48152
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29200 Vassar St
Livonia, MI 48152
Livonia Corporate Tower · Office Property For Sale
Investment Highlights
- 8-Story office building in the heart of Livonia zoned for office with options for other uses like multi-family, senior housing, and self-storage.
- Excellent location for commuters minutes to I-96, I-275, and M 5 providing convenient access to all the Metro Detroit areas.
- Open and efficient floor plates of ±15,000 square feet, and a large parking lot of 496 parking spaces, which was repaved in 2013.
- Unique opportunity to acquire a reinforced concrete building at significantly less than replacement cost.
Executive Summary
29200 Vassar Street is a free-standing high-rise property in the heart of Livonia zoned for office and has options for many other uses like multifamily, senior housing and self-storage. The building is currently vacant. The Property is situated on a ±4.48-acre site that includes 496 parking spaces. The parking lot was repaved in 2013. This offering represents a unique opportunity to acquire a reinforced concrete building at significantly less than replacement cost, in a central location in Metro Detroit.
Prominently located between Seven and Eight Mile Roads East of Middle Belt. 29200 Vassar Street was developed in 1972 for a governmental agency with open floor plates of 15,000 SF. The seven upper floors are fully gutted and awaiting design where the first-floor space is original with marble finishes.
The Livonia Corporate Tower is in a great location, directly across from the redeveloped Walmart anchored Livonia Mall Shopping Center. It is located within minutes of Interstate 96, Interstate 275, and M 5 providing convenient access to all the Metro Detroit areas. Approximately 30,000 vehicles per day travel Middlebelt Road. Livonia's population was 96,942 at the 2010 census, making it Michigan's 9th largest municipality. The municipality is a part of Metro Detroit, and located approximately 13 miles northwest from downtown Detroit.
Floors are all completely gutted and ready for new design | Potential uses include Office, Multifamily, Self Storage and more.
Parking for 496 vehicles parking on approximately five acres.
Prominently located between Seven and Eight Mile Roads East of Middle Belt. 29200 Vassar Street was developed in 1972 for a governmental agency with open floor plates of 15,000 SF. The seven upper floors are fully gutted and awaiting design where the first-floor space is original with marble finishes.
The Livonia Corporate Tower is in a great location, directly across from the redeveloped Walmart anchored Livonia Mall Shopping Center. It is located within minutes of Interstate 96, Interstate 275, and M 5 providing convenient access to all the Metro Detroit areas. Approximately 30,000 vehicles per day travel Middlebelt Road. Livonia's population was 96,942 at the 2010 census, making it Michigan's 9th largest municipality. The municipality is a part of Metro Detroit, and located approximately 13 miles northwest from downtown Detroit.
Floors are all completely gutted and ready for new design | Potential uses include Office, Multifamily, Self Storage and more.
Parking for 496 vehicles parking on approximately five acres.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
120,000 SF
Building Class
C
Year Built/Renovated
1972/2013
Price
£2,885,400
Price Per SF
£24
Percent Leased
100%
Tenancy
Multiple
Number of Floors
8
Typical Floor Size
15,000 SF
Slab to Slab
11 ft
Building FAR
0.61
Lot Size
4.48 AC
Zoning
PO
Parking
422 Spaces (4.45 Spaces per 1,000 SF Leased)
PROPERTY TAXES
| Parcel Number | 46-003-01-0423-000 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £952,262 |
PROPERTY TAXES
Parcel Number
46-003-01-0423-000
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£952,262
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