Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Vacant Lot in Lincoln Park Title is generated by Realmo AI

    1382 Hanford Avenue, Lincoln Park, MI 48146

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    LAND - Lincoln Park, MI

    Lot size:
    0.07 Acres
    Added:
    Mar 30, 2026
    Days on Market:
    46
    Last Refresh:
    May 14 at 7:06 pm

    Property Features for 1382 Hanford Avenue

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential
    Standard status
    Active
    APN
    45003080569000
    Lot size
    0.07 Acres

    Taxes and HOA fees

    Tax Description
    BS569 LOT 569 ELMWOOD PARK NO. 2 SUB PC 524,119 L33 P49 WCR
    Tax Annual Amount
    281

    Utilities

    Sewer type
    Unknown

    We can help!

    Listing Contact
    Elijah Cook
    Elijah Cook

    Listing agent Elijah Cook

    Listing office KW Metro 423 S Washington Ave, Royal Oak, MI

    Listing date Mar 30, 2026

    MLS# 20261016976 Listing URL

    Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Vacant lot in the heart of Lincoln Park
    • Rare opportunity due to limited land inventory
    • Strong potential for long‑term investment
    • Located in an established residential area
    • Nearby homes have continued to sell
    • Ideal for builder, investor, or buyer

    Overview

    This vacant lot is located in an established residential area of Lincoln Park. The 0.07-acre parcel presents an opportunity for a builder, investor, or buyer to develop the land. The property is situated in a built-out community where vacant lots are relatively scarce. Nearby homes have continued to sell, suggesting potential for long-term investment.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    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
    Lincoln Park
    County
    Wayne
    State
    Michigan
    Longitude
    -83.174984
    Latitude
    42.256574

    Nearby Similar for Sale

    • $324,995

      Vacant Commercial Land with Parking

      Vacant commercial land with paved parking in Lincoln Park.
      722 Southfield Road, Lincoln Park, MI 48146
      View Details
    • $350,000
      3,200 SF

      Lincoln Park Commercial Opportunity

      High-visibility commercial building in Lincoln Park with ample parking.
      3168 Fort St, Lincoln Park, MI 48146
      View Details
    • $399,900
      4,942 SF

      Established Mechanic Shop with Bays

      Well-established mechanic shop with three bays and expansion potential.
      4153 Dix Hwy, LincolnParkCity_Wayne, MI 48146
      View Details
    • $195,000
      3,000 SF

      Lincoln Park Commercial Opportunity

      Prime commercial property in Lincoln Park with high visibility.
      4036 Fort St, Lincoln Park, MI 48146
      View Details
    • $25,000

      Residential Vacant Lot in Lincoln

      Residential vacant lot in Lincoln Park, build your dream home!
      2105 Morris Avenue, Lincoln Park, MI 48146
      View Details
    • $424,900

      Turnkey Four-Unit Investment Property

      Fully occupied four-unit complex with recent updates and below-market rents.
      1505 Ford Blvd, Lincoln Park, MI 48146
      View Details
    • $295,000

      Cottage Inn Pizza For Sale

      Free-standing building leased to Cottage Inn Pizza in Lincoln Park.
      3356 Fort Street | Lincoln Park, MI 48146
      View Details
    • $355,000

      Renovated Duplex in Lincoln Park

      Fully renovated duplex featuring modern amenities and updated systems.
      1532 Euclid Street, Lincoln Park, MI 48146
      View Details
    • $350,000
      3,200 SF

      High-Visibility Commercial Building on Fort

      3,200 SF commercial building on high-traffic Fort Street corridor.
      3168 Fort Street, Lincoln Park, MI 48146
      View Details
    • $200,000
      4,300 SF

      Lincoln Park Medical/Office Building

      4,300 SF medical/office building in Lincoln Park for sale.
      1336 Southfield Road, Lincoln Park, MI 48146
      View Details
    • $13,900,000
      240,000 SF

      Distribution Warehouse Near I-75

      240,000 SF distribution warehouse with immediate highway access.
      2251 Dix Hwy, Lincoln Park, MI 48146
      View Details
    • $28,000

      Residential Lot in Lincoln Park

      Vacant lot for custom home in a convenient location.
      653 Leblanc Street, Lincoln Park, MI 48146
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Vacant residential lot in established Lincoln Park neighborhood.
    Where is this residential land & home lot located?
    The property is located at 1382 Hanford Avenue Lincoln Park, MI.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Vacant lot in the heart of Lincoln Park; Rare opportunity due to limited land inventory; Strong potential for long‑term investment
    (248) 288-3500
    We can help!
    Listing Contact
    Elijah Cook
    Elijah Cook
    Learn More
    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
    1382 Hanford Avenue, Lincoln Park, MI 48146
    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!