Lincoln Park Commercial
For Sale
$350,000
3168 Fort St, Lincoln Park, MI 48146
High-visibility commercial building in Lincoln Park with ample parking.
Property Size3,200 SF
Price / SF$109.38
Days on Market120
Property Features for 3168 Fort St
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$5,835
Building Details
Building Size
3,200 SF
Year Built
1952
Listing Agency:
Emmanuel Realty LLC
(734) 560-0558
Listed By:
Beverly L Schanley · License #6501349751
(734) 560-0558
Source:
Elliman
Added: Apr 24
Changed: Aug 14
Last Checked: Aug 21 at 12:00PM
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 Emmanuel Realty LLC
Investment Insights
Based on property information with market context.
Located along the high-visibility Fort Street corridor in Lincoln Park, this commercial property at 3160 & 3168 Fort St offers a prime commercial opportunity. The approximately 3,200 sq ft building is zoned 201 Commercial, providing flexibility for various retail, service, or office uses. A large, newly refinished parking lot offers ample on-site parking for customers and staff. The property also features one bay door, suitable for deliveries, storage, or light service operations. Positioned on a high-traffic thoroughfare, the property benefits from strong daily traffic counts and excellent street exposure. It provides convenient access to major roadways and is surrounded by established businesses and residential neighborhoods. Immediate possession is available, presenting an excellent opportunity for an owner-user or investor seeking a well-located commercial asset in the Downriver market. The location is considered very walkable with a walk score of 73 and bikeable with a bike score of 51.
Key Highlights
- High‑visibility location on Fort Street with strong daily traffic counts.
- Approximately 3,200 sq ft commercial building zoned 201 Commercial, offering flexible use.
- Large, newly refinished parking lot providing ample on‑site parking.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,321
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.66%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$606,420
$606.4K
Cap Rate 7%
$433,157
$433.2K
Cap Rate 9%
$336,900
$336.9K
Market Conditions
NOI Build-Up for 3,200 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$46.1K $14.40/SF
− Vacancy
−$2.8K −$0.86/SF
EGI
$43.3K $13.54/SF
− OpEx
−$13.0K −$4.06/SF
NOI
$30.3K $9.48/SF
Area
Wayne County, MI
Vacancy
6.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$606,420
Cap Rate 7%
$433,157
Cap Rate 9%
$336,900
Alternative Uses
Best Use
Retail
$433.2K
$379.0K – $505.4K
NOI $30,321 @ 7.0% cap · market cap 8.66%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$592.5K
$518.4K – $691.2K
NOI $41,472 @ 7.0% cap · market cap 11.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
411
Businesses Nearby
35k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 56%
Dining 25%
Home Improvements & Furnishings 19%
BP
Shops & Services
8,292 visits/mo
0.4 miles
Great Lakes Ace
Home Improvements & Furnishings
6,646 visits/mo
0.5 miles
Exxon
Shops & Services
4,667 visits/mo
0.1 miles
Citgo
Shops & Services
4,501 visits/mo
0.5 miles
Dairy Queen
Dining
3,267 visits/mo
0.0 miles
Demographics for 48146, MI
40,245
Population
15,874
Households
2.5
Avg Household Size
37
Median Age
11%
College-Educated
81%
High-School Grad
5.8 sq mi
ZIP Area
6,939
Density / Sq Mi
$57,183
Median Household Income
$36,886
Median Earnings
$972
Median Rent
$117,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Thrifty Florist — 3421 Dix Hwy, Lincoln Park, MI 48160
Frequently Asked Questions
What type of property is this?
Storefront property - High-visibility commercial building in Lincoln Park with ample parking.
Where is this storefront property located?
The property is located at 3168 Fort St Lincoln Park, MI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: High‑visibility location on Fort Street with strong daily traffic counts.; Approximately 3,200 sq ft commercial building zoned 201 Commercial, offering flexible use.; Large, newly refinished parking lot providing ample on‑site parking.
