Updated Office
For Sale
$325,000
Pending
1088 Southfield Rd, Lincoln Park, MI 48146
A fully updated office building with reception space, ADA restrooms, and ample parking for day-to-day operations.
Property Size3,400 SF
Days on Market1043
Property Features for 1088 Southfield Rd
General Information
Standard status
Pending
Size
3,400 SF
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$12,914
Listing Agency:
RE/MAX Team 2000
Listed By:
Yousef Beydoun · License #6501354088
(313) 561-0900
Source:
Exprealty
Added: Nov 28, 2023
Changed: Sep 8
Last Checked: Oct 5 at 11:59PM
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 RE/MAX Team 2000
Investment Insights
Based on property information with market context.
This fully updated office building is arranged with a reception area designed to support client-facing arrival and flow. The property includes two ADA restrooms, and the exterior and site have been improved with newly paved onsite parking. Additional public parking is available as well.
The building is positioned for main road exposure on Southfield Road, in an area with heavy roadway traffic. It also offers easy freeway accessibility, supporting convenient tenant and visitor access.
With its updated interior elements, dedicated reception area, and ADA-accessible restroom facilities, the layout is well suited for professional office users seeking a turnkey space. Ample onsite parking, complemented by public parking, can help reduce arrival friction for staff and guests while maintaining straightforward access for daily operations.
The building is positioned for main road exposure on Southfield Road, in an area with heavy roadway traffic. It also offers easy freeway accessibility, supporting convenient tenant and visitor access.
With its updated interior elements, dedicated reception area, and ADA-accessible restroom facilities, the layout is well suited for professional office users seeking a turnkey space. Ample onsite parking, complemented by public parking, can help reduce arrival friction for staff and guests while maintaining straightforward access for daily operations.
Key Highlights
- Fully updated office building on heavily traveled Southfield Road with strong main‑road exposure
- Easy freeway accessibility
- Ample on‑site parking with newly paved parking areas plus additional public parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,705
Cap Rate
3.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$234,100
$234.1K
Cap Rate 7%
$167,214
$167.2K
Cap Rate 9%
$130,056
$130.1K
Market Conditions
NOI Build-Up for 3,400 SF
Gross rent
$20.4K $6.00/SF
− Vacancy
−$4.8K −$1.41/SF
EGI
$15.6K $4.59/SF
− OpEx
−$3.9K −$1.15/SF
NOI
$11.7K $3.44/SF
Area
Wayne County, MI
Vacancy
23.50%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$234,100
Cap Rate 7%
$167,214
Cap Rate 9%
$130,056
Alternative Uses
Best Use
Office B
$167.2K
$146.3K – $195.1K
NOI $11,705 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$629.5K
$550.8K – $734.4K
NOI $44,064 @ 7.0% cap · market cap 13.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
637
Businesses Nearby
Explore this area
Business Placement
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
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - A fully updated office building with reception space, ADA restrooms, and ample parking for day-to-day operations.
Where is this office building located?
The property is located at 1088 Southfield Rd Lincoln Park, MI.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Fully updated office building on heavily traveled Southfield Road with strong main‑road exposure; Easy freeway accessibility; Ample on‑site parking with newly paved parking areas plus additional public parking
