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    Birmingham Multifamily Investment Opportunity Title is generated by Realmo AI

    575 E Lincoln Street, Birmingham, MI 48009

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    Claim this Listing
    For Sale
    $2,350,000

    MULTI_FAMILY - Other - Birmingham, MI

    Property size:
    8,642 SF
    Lot size:
    0.40 Acres
    Price / SF:
    $271/SF
    Added:
    Apr 11, 2026
    Days on Market:
    55
    Last Refresh:
    Jun 4 at 4:06 am

    Property Features for 575 E Lincoln Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Residential
    Bedrooms
    16
    Bathrooms
    9
    Rooms
    Bedroom 11, Bathroom 6, Bedroom 7, Bathroom 7, Bathroom 1, Bedroom 8, Bedroom 12, Bedroom 4, Bedroom 1, Bedroom 5, Bathroom 4, Bathroom 5, Bedroom 13, Bedroom 9, Bedroom 14, Bedroom 2, Bedroom 15, Bedroom 6, Bathroom 2, Bedroom 10, Bedroom 3, Bathroom 3, Bathroom 8, Bedroom 16, Bathroom 9
    Parking
    16
    Pets allowed
    Call
    Interior features
    Cable Available, Laundry Facility
    Standard status
    Active
    APN
    1936257045
    Size
    8,642 SF
    Lot size
    0.40 Acres

    Taxes and HOA fees

    Tax Description
    T2N, R10E, SEC 36 LINCOLN-WOODWARD SUB LOTS 1 TO 4 INCL
    Tax Annual Amount
    20264

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air, Separate Meters
    Water source
    Public

    Building Details

    Year built
    1981
    Floors in Building
    2
    Number of units
    8
    Building materials
    Brick
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    Renee Lossia Acho
    Renee Lossia Acho

    Listing agent Renee Lossia Acho

    Listing office KW Domain 210 S Old Woodward Ave Suite 200, Birmingham, MI

    Listing date Apr 11, 2026

    MLS# 20261024206 Listing URL

    Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Rare opportunity: Fully occupied eight‑unit apartment building in downtown Birmingham.
    • Prime location: Walking distance to downtown Birmingham's shops, restaurants, and entertainment.
    • Strong income potential: 100% occupied with room for modernization.
    • Redevelopment potential: Approximately .40 acres spanning four contiguous lots.
    • Well‑maintained building: Built in 1981 and carefully maintained.
    • Desirable amenities: In‑unit laundry, forced‑air heating, central A/C, and individually metered utilities.

    Overview

    This is a rare opportunity to acquire a fully occupied eight-unit apartment building on the north side of Lincoln in downtown Birmingham. Positioned on approximately 0.40 acres spanning four contiguous lots, the property presents a compelling opportunity for both investors and developers. The existing building offers strong in-place occupancy with room for thoughtful modernization, while the underlying land provides long-term redevelopment potential in one of Birmingham's most established and desirable residential corridors. Built in 1981, the building has been carefully maintained and remains 100% occupied. The apartments are clean and functional, with generous layouts, in-unit laundry, forced-air heating, central A/C, and individually metered utilities. The property is within walking distance of downtown Birmingham's shops, restaurants, and entertainment. The property is zoned for residential use and has a building size of 8642 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Real Estate Agency Nail Salon Building Supply Daycare Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Birmingham
    County
    Oakland
    State
    Michigan
    Longitude
    -83.209817
    Latitude
    42.539228

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    FAQs

    What type of property is this?
    Apartment building - Fully occupied 8-unit apartment building in downtown Birmingham.
    Where is this apartment building located?
    The property is located at 575 E Lincoln Street Birmingham, MI.
    What is the asking price?
    The asking price for this property is $2,350,000.
    What are key features of this property?
    This property features: Rare opportunity: Fully occupied eight‑unit apartment building in downtown Birmingham.; Prime location: Walking distance to downtown Birmingham's shops, restaurants, and entertainment.; Strong income potential: 100% occupied with room for modernization.
    (248) 590-0800
    We can help!
    Listing Contact
    Renee Lossia Acho
    Renee Lossia Acho
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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