Brick Multifamily
4186 Drouillard Street, Lincoln Park, MI 48146
For Sale
$230,000
Pending
Multifamily, 1 Story, Lincoln Park, MI
Property Size1,200 SF
Lot Size0.10 Acres
Days on Market130
Property Features for 4186 Drouillard Street
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Pets allowed
Subdivision
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
Water source
Building Details
Year built
Floors in Building
Number of units
Building materials
Architectural style
Buildings
Listing Agency:
Keller Williams Somerset · Keller Williams Realty
(248) 649-7200
Listed By:
Joseph Hammel · License MI #6501422602
(248) 422-1685
Added: Jul 6
Changed: Nov 12
Last Checked: Nov 12 at 1:06PM
MLS# 20261050386
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.
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Investment Insights
Based on property information with market context.
This 1,200-square-foot brick multifamily property was built in 1958 and has a ranch-style layout, forced-air heating, and public water. The room information lists three bedrooms and three bathrooms. The property is offered as-is and is currently fully leased.
The site encompasses 0.1 acres and is zoned Multi-Family. A cap rate of approximately 8–9% is reported.
The site encompasses 0.1 acres and is zoned Multi-Family. A cap rate of approximately 8–9% is reported.
Key Highlights
- Currently fully leased
- Approximately 8–9% cap rate
- 1,200 Square Feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,818
Cap Rate
4.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$216,360
$216.4K
Cap Rate 7%
$154,543
$154.5K
Cap Rate 9%
$120,200
$120.2K
Market Conditions
NOI Build-Up for 1,200 SF
Gross rent
$20.9K $17.40/SF
− Vacancy
−$1.2K −$1.01/SF
EGI
$19.7K $16.39/SF
− OpEx
−$8.9K −$7.38/SF
NOI
$10.8K $9.01/SF
Area
Wayne County, MI
Vacancy
5.80%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$216,360
Cap Rate 7%
$154,543
Cap Rate 9%
$120,200
Alternative Uses
Best Use
Apartment 5plus
$154.5K
$135.2K – $180.3K
NOI $10,818 @ 7.0% cap · market cap 4.70%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$222.2K
$194.4K – $259.2K
NOI $15,552 @ 7.0% cap · market cap 6.76%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
469
Businesses Nearby
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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
$117,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Multifamily properties in Lincoln Park, MI
Properties on Market for Multifamily properties in Lincoln Park
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - Currently leased units provide in-place occupancy in a property zoned Multi-Family.
Where is this multifamily property located?
The property is located at 4186 Drouillard Street Lincoln Park, MI.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Currently fully leased; Approximately 8–9% cap rate; 1,200 Square Feet
