450 W Fort St, Detroit, MI 48226
Prime location, historic charm, and fully occupied by tenants.
- Added:
- Oct 18, 2023
- Days on Market:
- 993
- Last Refresh:
- Jun 28 at 3:28 am
Property Features for 450 W Fort St
General Information
- Standard status
- Active
- Size
- 17,901 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1927
Listing office The Jonna Group at Colliers International (248) 226-1610
Listing date Oct 18, 2023
Source Crexi
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 The Jonna Group at Colliers International
HighLights
- Fully occupied with a diverse mix of tenants, providing immediate income.
- Prime location.
- Historic charm.
- Beloved landmark in the area.
- Historic property dating back to 1959.
- Year Built: 1927.
Overview
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $333.0k | $18.60 |
| − Vacancy | −$18.0k | −$1.00 |
| EGI | $315.0k | $17.60 |
| − OpEx | −$94.5k | −$5.28 |
| NOI | $220.5k | $12.32 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -83.0518242
- Latitude
- 42.3291531
