Renovated Office
For Sale
$249,000
1414 Dix Hwy, Lincoln Park, MI 48146
NBD-zoned office property with extensive upgrades and access to major regional roads.
Property Size3,400 SF
Price / SF$73.24
Days on Market724
Property Features for 1414 Dix Hwy
General Information
Standard status
Active
Size
3,400 SF
Property subtype
Industrial
Zoning
NBD
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
3,400 SF
Year Built
1951
Buildings
1
Stories
1
Listing Agency:
Thomas A. Duke Company
Listed By:
Frank Rakipi
(313) 478-5400
Source:
Cpix.resimplifi
Added: Oct 21, 2024
Changed: Oct 5
Last Checked: Oct 12 at 4:37PM
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 Thomas A. Duke Company
Investment Insights
Based on property information with market context.
This renovated office building contains 3,400 square feet of commercial space and has received upgrades throughout. Originally built in 1951, the property is classified under NBD zoning and is positioned for office use.
The building sits on the west side of Dix-Toledo Highway in Lincoln Park, with access to Southfield Road, I-94, and I-75. Its established construction, updated condition, and roadway access provide a straightforward setting for an office user or commercial owner.
The building sits on the west side of Dix-Toledo Highway in Lincoln Park, with access to Southfield Road, I-94, and I-75. Its established construction, updated condition, and roadway access provide a straightforward setting for an office user or commercial owner.
Key Highlights
- 3,400 SF office building
- Renovated with upgrades throughout
- NBD zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,705
Cap Rate
4.70%
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 4.70%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$629.5K
$550.8K – $734.4K
NOI $44,064 @ 7.0% cap · market cap 17.70%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
456
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - NBD-zoned office property with extensive upgrades and access to major regional roads.
Where is this office building located?
The property is located at 1414 Dix Hwy Lincoln Park, MI.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: 3,400 SF office building; Renovated with upgrades throughout; NBD zoning
