Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Renovated Office Building For Sale Title is generated by Realmo AI

    12170 FORT, Southgate, MI 48195

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $450,000

    Updated office building suitable for various businesses, move-in ready.

    Type:Industrial
    Property size:
    2,855 SF
    Price / SF:
    $157/SF
    Added:
    Dec 15, 2024
    Days on Market:
    523
    Last Refresh:
    Apr 1 at 9:31 pm

    Property Features for 12170 FORT

    General Information

    Standard status
    Active
    Size
    2,855 SF
    Property subtype
    Industrial

    Building Details

    Year Built
    1919

    We can help!

    Listing Contact
    Alex Pandoff

    Listing agent Alex Pandoff

    Listing office ERA Prime Real Estate Group South

    Listing date Dec 15, 2024

    Source Xome

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

    All listing content including descriptions, pricing, images are the copyrighted material of ERA Prime Real Estate Group South

    HighLights

    • New roof installed in 2022.
    • Thirteen parking spaces, including two handicap spaces.
    • Two ADA compliant bathrooms with baby changing stations.
    • Two offices with private bathrooms.
    • Updated interior (2017) and exterior features including landscaping (2018), inground sprinkler system (2021), and lighted sign (2017).
    • Two closing rooms that can be combined into one large room.

    Overview

    This renovated office building, formerly a doctor's office and currently used as a real estate office, is available for purchase. Interior updates were completed in 2017. The building features two ADA-compliant bathrooms equipped with baby changing stations, and two offices with private bathrooms. Exterior improvements include landscaping in the front of the building (2018), an in-ground sprinkler system (2021), a lighted sign with a scrolling message (2017), and a new roof (2022). The property includes 13 parking spaces, two of which are handicap accessible. There are two private back entrances and one public front entrance, along with an after-hours drop box on the back door. The layout includes two closing rooms, each capable of seating eight people, with a central door that can be opened to create one large room. Furniture and equipment are also available. The property size is 2855 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    GAP Realty Group Real Estate Agency Donna Colley Andrews, ... Real Estate Agency GAP Realty Group-Mike ... Real Estate Agency Turn Key Title ... Title Company phos management inc Construction Company

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Southgate
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1816762
    Latitude
    42.2196394

    Nearby Similar for Sale

    • $1,850,000
      10,972 SF

      Freestanding Building in Southgate Center

      Freestanding building in a busy shopping center, suitable for investment.
      13545 Eureka Road, Southgate, MI 48195
      View Details
    • $475,000
      2,100 SF

      Turnkey Laundromat Business and Real Estate

      Profitable laundromat with real estate and expansion lots included.
      13293 Northline Road, Southgate, MI 48195
      View Details
    • $99,900
      1,644 SF

      Southgate Property with Business Potential

      Residential property in Southgate, MI, with potential for business conversion.
      15602 Northline Road, Southgate, MI 48195
      View Details
    • $700,000
      3,825 SF

      Eureka Road Commercial Space Available

      3,825 SF commercial space with high visibility on Eureka Rd.
      19363 Eureka Rd, Southgate, MI 48195
      View Details
    • $375,000
      5,000 SF

      Prime Commercial Location on Eureka

      Almost 5000 sqft commercial space on Class A road.
      14012 Eureka Rd, Southgate, MI 48195
      View Details
    • $450,000

      Renovated Office Building For Sale

      Renovated office building suitable for various businesses.
      12170 FORT St, Southgate, MI 48195
      View Details
    • $249,900
      3,000 SF

      Southgate Retail/Office Opportunity

      3,000 SF retail/office space on Eureka Road.
      14024 Eureka Rd, Southgate, MI 48195
      View Details
    • $995,000

      Freestanding Retail Property Southgate

      High-traffic location with excellent visibility and accessibility.
      19400 Northline Rd, Southgate, MI 48195
      View Details
    • $599,000

      Medical Office Building Investment

      Medical office building for sale, generating approximately $4,000 monthly.
      12100 Dix Toledo Rd, Southgate, MI 48195
      View Details
    • $499,999
      4,000 SF

      Retail Building on Fort Street

      4,000 SF retail building with high visibility and parking.
      14750 Fort Street, Southgate, MI
      View Details
    • $2,700,000
      22,500 SF

      Southgate Retail Opportunity For Sale

      Multi-tenant retail property in Southgate, MI, with strong demographics.
      16215 Dix Toledo Road, Southgate, MI 48195
      View Details
    • $995,000
      6,917 SF

      Freestanding Retail Property in Southgate

      High-traffic location with excellent visibility and accessibility.
      19400 Northline Rd, Southgate, MI 48195
      View Details

    FAQs

    What type of property is this?
    Office building - Updated office building suitable for various businesses, move-in ready.
    Where is this office building located?
    The property is located at 12170 FORT Southgate, MI.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: New roof installed in 2022.; Thirteen parking spaces, including two handicap spaces.; Two ADA compliant bathrooms with baby changing stations.
    (734) 284-8600
    We can help!
    Listing Contact
    Alex Pandoff
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    12170 FORT, Southgate, MI 48195
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!