Flex Building with Refurbished
For Sale
$350,000
3168 FORT ST, Lincoln Park, MI 48146
Flex building zoned 201 Commercial with newly refinished on-site parking and one bay door.
Property Size3,200 SF
Price / SF$109.38
Days on Market176
Property Features for 3168 FORT ST
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Industrial
Zoning
201 Commercial
Additional Details
Drive-In Doors
1
Amenities
3
90115
Building Details
Year Built
19
Listing Agency:
Emmanuel Realty LLC
(586) 634-6228
Listed By:
Tina Alfaro · License #6501312815
(586) 634-6228
Source:
Xome
Added: Feb 26
Changed: Aug 14
Last Checked: Aug 21 at 5:03AM
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 Emmanuel Realty LLC
Investment Insights
Based on property information with market context.
The sale includes 3160 & 3168 Fort St. and features an approximately 3,200 sq ft commercial building zoned 201 Commercial, offering flexibility for retail, service, or office use. The property includes a large newly refinished parking lot for customer and staff parking, and it also has one bay door suited for deliveries, storage, or light service operations. Immediate possession is available.
Situated along the high-visibility Fort Street corridor, the building benefits from strong daily traffic counts and excellent street exposure. The location provides convenient access to major roadways and is surrounded by established businesses and residential neighborhoods.
For a compact, street-exposed commercial setup with on-site parking and a bay door, this property’s existing configuration and zoning support a range of flexible uses.
Situated along the high-visibility Fort Street corridor, the building benefits from strong daily traffic counts and excellent street exposure. The location provides convenient access to major roadways and is surrounded by established businesses and residential neighborhoods.
For a compact, street-exposed commercial setup with on-site parking and a bay door, this property’s existing configuration and zoning support a range of flexible uses.
Key Highlights
- Sale includes 3160 & 3168 Fort St
- Approximately 3,200 sq ft commercial building
- Zoned 201 Commercial
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
$20,191
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
5.77%
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%
$403,820
$403.8K
Cap Rate 7%
$288,443
$288.4K
Cap Rate 9%
$224,344
$224.3K
Market Conditions
NOI Build-Up for 3,200 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
$32.3K $10.08/SF
− Vacancy
−$1.2K −$0.37/SF
EGI
$31.1K $9.71/SF
− OpEx
−$10.9K −$3.40/SF
NOI
$20.2K $6.31/SF
Area
Wayne County, MI
Vacancy
3.70%
Lease Rate
$10.08 /SF/Yr
Expense Ratio
35.00%
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%
$403,820
Cap Rate 7%
$288,443
Cap Rate 9%
$224,344
Alternative Uses
Best Use
Flex RnD
$288.4K
$252.4K – $336.5K
NOI $20,191 @ 7.0% cap · market cap 5.77%
Second Best
Industrial
$236.7K
$207.1K – $276.1K
NOI $16,567 @ 7.0% cap · market cap 4.73%
Theoretical Best
Specialty Retail
$592.5K
$518.4K – $691.2K
NOI $41,472 @ 7.0% cap · market cap 11.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
411
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Industrial 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?
Flex space - Flex building zoned 201 Commercial with newly refinished on-site parking and one bay door.
Where is this flex space located?
The property is located at 3168 FORT ST Lincoln Park, MI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Sale includes 3160 & 3168 Fort St; Approximately 3,200 sq ft commercial building; Zoned 201 Commercial
