Commercial Land with Rear
For Sale
Contact for pricing
1505 Dix Hwy, Lincoln Park, MI 48146
Unfinished commercial space with rear loading access and NBD zoning supporting multiple business uses.
Property Size3,339 SF
Price / SF$184.19
Days on Market9
Property Features for 1505 Dix Hwy
General Information
Standard status
Active
Size
3,339 SF
Property subtype
RETAIL
Listing Agency:
SVN Ascension
(419) 766-9988
Listed By:
Ali Sayed · License #SAL#2022003059
(419) 766-9988
Source:
Moodyscre
Added: Aug 3
Changed: Aug 10
Last Checked: Aug 11 at 2:28PM
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 SVN Ascension
Investment Insights
Based on property information with market context.
This 3,339-square-foot commercial property includes unfinished box space, rear doors, and a secondary access drive that can support delivery activity. The site carries NBD zoning, with stated use potential for retail stores, professional and medical offices, restaurants and cafes, personal service businesses, and other mixed commercial operations.
Located at 1505 Dix Hwy in Lincoln Park, the property has frontage along the full city block and rear access. Reported vehicle counts are 26,737 on Dix Hwy and 47,318 on Southfield Rd, providing measurable traffic exposure along both corridors.
Located at 1505 Dix Hwy in Lincoln Park, the property has frontage along the full city block and rear access. Reported vehicle counts are 26,737 on Dix Hwy and 47,318 on Southfield Rd, providing measurable traffic exposure along both corridors.
Key Highlights
- 3,339 SF commercial property with unfinished box space
- NBD zoning supports retail, office, restaurant, cafe, personal service, and mixed commercial uses
- Full city block frontage with a rear access drive
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
$31,638
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
5.14%
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%
$632,760
$632.8K
Cap Rate 7%
$451,971
$452.0K
Cap Rate 9%
$351,533
$351.5K
Market Conditions
NOI Build-Up for 3,339 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
$48.1K $14.40/SF
− Vacancy
−$2.9K −$0.86/SF
EGI
$45.2K $13.54/SF
− OpEx
−$13.6K −$4.06/SF
NOI
$31.6K $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%
$632,760
Cap Rate 7%
$451,971
Cap Rate 9%
$351,533
Alternative Uses
Best Use
Retail
$452.0K
$395.5K – $527.3K
NOI $31,638 @ 7.0% cap · market cap 5.14%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$618.2K
$540.9K – $721.2K
NOI $43,273 @ 7.0% cap · market cap 7.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
253
Businesses Nearby
61k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 58%
Dining 36%
Electronics 7%
Taco Bell
Dining
12,681 visits/mo
0.4 miles
Family Dollar
Shops & Services
10,235 visits/mo
0.1 miles
Citgo
Shops & Services
9,078 visits/mo
0.2 miles
Checkers
Dining
8,848 visits/mo
0.5 miles
BP
Shops & Services
8,680 visits/mo
0.5 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - Unfinished commercial space with rear loading access and NBD zoning supporting multiple business uses.
Where is this commercial land located?
The property is located at 1505 Dix Hwy Lincoln Park, MI.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: 3,339 SF commercial property with unfinished box space; NBD zoning supports retail, office, restaurant, cafe, personal service, and mixed commercial uses; Full city block frontage with a rear access drive
