Multi-Unit Retail
New
For Sale
$495,000
18511 Fort St, Riverview, MI 48193
The sale combines three connected commercial buildings with shared parking and a mix of occupied and vacant space.
Property Size1,650 SF
Days on Market2
Property Features for 18511 Fort St
General Information
Standard status
Active
Size
1,650 SF
Total Parking Spaces
11
Property subtype
Commercial
Additional Details
Corner Location
Yes
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$2,777
Amenities
private bathroom
independent heating and cooling system
Building Details
Building Size
1,650 SF
Year Built
1953
Buildings
3
Tenancy
Multi
Listing Agency:
LPT Realty, LLC
Listed By:
Megan Powell · License #6501459883
(877) 366-2213
Source:
Elliman
Added: Nov 3
Last Checked: Nov 3 at 2:38PM
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 LPT Realty, LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The offering comprises three connected retail buildings at 18511, 18517, and 18525 Fort St., plus a separate parcel used for shared parking. The 18511 Fort St. unit is occupied by an operating business with a lease in place; the two other units are vacant. The space includes a private bathroom and independent heating and cooling, with HVAC equipment believed to be approximately 5 years old.
All four parcels are offered together as a single package, with no individual building or parcel sales. The properties sit on a corner along Fort Street in Riverview. Shared parking includes 9 designated spaces, with 2 more behind the buildings.
All four parcels are offered together as a single package, with no individual building or parcel sales. The properties sit on a corner along Fort Street in Riverview. Shared parking includes 9 designated spaces, with 2 more behind the buildings.
Key Highlights
- Sale includes three connected commercial buildings and a separate shared parking parcel
- All four parcels must be purchased together
- One unit is occupied by an operating business with a lease in place; two units are vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,634
Cap Rate
3.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$312,680
$312.7K
Cap Rate 7%
$223,343
$223.3K
Cap Rate 9%
$173,711
$173.7K
Market Conditions
NOI Build-Up for 1,650 SF
Gross rent
$23.8K $14.40/SF
− Vacancy
−$1.4K −$0.86/SF
EGI
$22.3K $13.54/SF
− OpEx
−$6.7K −$4.06/SF
NOI
$15.6K $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 Rate 5%
$312,680
Cap Rate 7%
$223,343
Cap Rate 9%
$173,711
Alternative Uses
Best Use
Retail
$223.3K
$195.4K – $260.6K
NOI $15,634 @ 7.0% cap · market cap 3.16%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$305.5K
$267.3K – $356.4K
NOI $21,384 @ 7.0% cap · market cap 4.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
436
Businesses Nearby
62k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 53%
Dining 47%
Taco Bell
Dining
16,303 visits/mo
0.3 miles
Speedway
Shops & Services
14,265 visits/mo
0.3 miles
Burger King
Dining
9,328 visits/mo
0.4 miles
DFCU Financial
Shops & Services
7,991 visits/mo
0.2 miles
Mobil
Shops & Services
6,786 visits/mo
0.3 miles
Demographics for 48193, MI
16,110
Population
6,775
Households
2.4
Avg Household Size
44
Median Age
25%
College-Educated
92%
High-School Grad
7.2 sq mi
ZIP Area
2,238
Density / Sq Mi
$72,894
Median Household Income
$43,451
Median Earnings
$1,088
Median Rent
$205,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Strip mall - The sale combines three connected commercial buildings with shared parking and a mix of occupied and vacant space.
Where is this strip mall located?
The property is located at 18511 Fort St Riverview, MI.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Sale includes three connected commercial buildings and a separate shared parking parcel; All four parcels must be purchased together; One unit is occupied by an operating business with a lease in place; two units are vacant
