Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    986 Southfield Rd Lincoln Park, MI 48146

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $300,000

    Prime location suitable for various commercial endeavors and investors.

    Lot size:
    0.21 Acres

    Property Features for 986 Southfield Rd

    General Information

    Lot size
    0.21 Acres

    Building Details

    Year built
    1985

    We can help!

    Listing Contact
    Leen Slim
    Source: Elliman

    Listing Agent: Leen Slim

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Commercial Property with Versatile Zoning

    This commercial property features versatile zoning, making it suitable for a variety of commercial endeavors. The building is currently leased, presenting an opportunity for investors. Recent updates include a new roof, water heater, air conditioning system, and new floors.
    Location Intelligence

    Current Use by Public Records

    Pita To Go Mediterranean Restaurant

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Similar Places Nearby

    Flowers By Lobb

    Location Insight

    • Map
    • Local Demand
    City
    Lincoln Park
    County
    Wayne
    State
    Michigan
    Longitude
    -83.171002
    Latitude
    42.2487632

    Nearby Similar for Sale

    • $167,000
      1,536 SF

      Remodeled Duplex in Lincoln Park

      Remodeled duplex in Lincoln Park, perfect for investors or owner-occupiers.
      1459 Pingree Ave, Lincoln Park, MI 48146
      View Details
    • $329,900
      2,292 SF

      Updated Commercial Building with Warehouse

      Versatile updated commercial building with office and warehouse space.
      1378 Dix Hwy, Lincoln Park, MI 48146
      View Details
    • $424,900
      Pending

      Turnkey Lincoln Park Fourplex

      Fully occupied four-unit complex with recent updates and strong investment potential.
      1505 Ford Blvd, Lincoln Park, MI 48146
      View Details
    • $449,900
      2,795 SF

      Established Auto Repair Shop For Sale

      Well-equipped auto repair shop on high-traffic Fort St.
      1306 Fort St, Lincoln Park, MI 48146
      View Details
    • $365,000
      0.08 Acres

      Renovated Duplex in Lincoln Park

      Fully renovated duplex featuring modern amenities and updated systems.
      1532 Euclid St, Lincoln Park, MI 48146
      View Details
    • $375,000
      3,140 SF

      Lincoln Park Retail Opportunity

      Established business and real estate for sale in Lincoln Park.
      3355 Dix Hwy, Lincoln Park, MI 48146
      View Details
    • $625,000
      0.19 Acres

      Lincoln Park Multifamily Investment Opportunity

      Two buildings with value-add potential in Lincoln Park, Michigan.
      1665 Pagel Ave, Lincoln Park, MI 48146
      View Details
    • $625,000
      0.07 Acres

      Lincoln Park Multifamily Investment Opportunity

      Two buildings with value-add potential in Lincoln Park, Michigan.
      1673 Pagel Ave, Lincoln Park, MI 48146
      View Details
    • $100,000

      Renovated Commercial Space on Fort

      1,400 sq ft commercial space in high-traffic location.
      2962 Fort St, Lincoln Park, MI 48146
      View Details
    • $220,000

      Lincoln Park Multifamily Investment Property

      Well-maintained duplex with strong rental potential in Lincoln Park.
      1194 Lincoln Ave, Lincoln Park, MI 48146
      View Details
    • $175,000

      Solid Brick Duplex in Lincoln

      Well-maintained duplex with reliable tenants and income potential.
      819 Frank Ave, Lincoln Park, MI 48146
      View Details
    • $579,900

      Versatile Commercial Building with Kitchen

      Spacious commercial building with banquet hall and equipped kitchen.
      1911 Horger St, Lincoln Park, MI 48146
      View Details

    FAQs

    What type of property is this?
    Storefront property - Prime location suitable for various commercial endeavors and investors.
    Where is this storefront property located?
    The property is located at 986 Southfield Rd Lincoln Park, MI.
    What is the asking price?
    The asking price for this property is $300,000.
    What are key features of this property?
    This property features: - Prime location with versatile zoning suitable for various commercial endeavors.; - Leased building, ideal for investors.; - New roof.
    (313) 850-2270
    Request Owner's contact information
    986 Southfield Rd Lincoln Park, MI 48146
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    986 Southfield Rd
    Lincoln Park, MI 48146
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    986 Southfield Rd Lincoln Park, MI 48146
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Leen Slim
    (313) 850-2270
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.