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    1705-1737 Cicotte Ave Lincoln Park, MI 48146
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    1705-1737 Cicotte Ave Lincoln Park, MI 48146

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    • Industrial properties
    • 251,081 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Industrial properties

    Property Details for 1705-1737 Cicotte Ave

    Year built
    1919
    Property size
    251,081 SF
    Property type
    Industrial properties
    Property subtype
    Flex space

    Description

    This exceptional industrial flex space, located at 1705-1737 Cicotte Ave in Lincoln Park, Michigan, offers a significant opportunity for businesses seeking a substantial footprint. The property, encompassing a total of 251,081 square feet, features a single, eight-story building constructed in 1919, situated on a 9.9-acre lot. Currently, 128,000 square feet of contiguous space is immediately available, with a minimum divisible space of 62,000 square feet. The building boasts impressive ceiling heights ranging from 14 to 40 feet, providing ample vertical space for various operational needs. Loading and unloading are facilitated by six loading docks and twelve dock-high doors. Ample parking is provided with 100 spaces, supplemented by a single drive-in bay. The property is equipped with robust power, featuring 2,000 amps at 480 volts. The zoning is General Industrial, and the Wayne County APN is 45-005-99-0002-000. The property is conveniently located west of John A. Papalas Drive, in Lincoln Park, MI 48146. This multi-tenant building presents a unique opportunity to lease a significant amount of space in a well-located industrial area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Lincoln Park
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1818
    Latitude
    42.2602

    Comparable in this City

    • Value Estimation by Request
      22.00 Acres

      Dix Hwy

      Land • 6,817 SF
      0 Dix Hwy, Lincoln Park, MI 48146
      View Details
    • Value Estimation
      $565,000
      10,000 SF

      3060 Ft St

      INDUSTRIAL (GENERAL) • 10,000 SF
      3060 Ft St, Lincoln Park, MI 48146-2449
      View Details
    • Value Estimation
      $1,830,000
      28,970 SF

      1695 Southfield Rd

      INDUSTRIAL (GENERAL) • 28,970 SF
      1695 Southfield Rd, Lincoln Park, MI 48146-2275
      View Details
    • Value Estimation
      $1,605,000
      38,628 SF

      1642 John A Papalas Dr

      INDUSTRIAL LOFT BUILDING • 38,628 SF
      1642 John A Papalas Dr, Lincoln Park, MI 48146-1462
      View Details
    • Value Estimation
      $2,335,000
      69,231 SF

      1600 John A Papalas Dr

      INDUSTRIAL LOFT BUILDING • 69,231 SF
      1600 John A Papalas Dr, Lincoln Park, MI 48146-1462
      View Details
    • Value Estimation by Request
      446,101 SF

      1578 Howard Ave

      Distribution properties • 446,101 SF
      1578 Howard Ave, Lincoln Park, MI 48146
      View Details

    Similar Nearby for Sale

    • $4,500,000

      Industrial Property with Crane Bay

      Industrial property featuring crane bay and active rail line.
      1705-1737 Cicotte Ave, Lincoln Park, MI 48146
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    • $13,900,000

      Distribution Warehouse Near I-75

      240,000 SF distribution warehouse with immediate highway access.
      2251 Dix Hwy, Lincoln Park, MI 48146
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    • $350,000

      Lincoln Park Commercial Opportunity

      High-visibility commercial building in Lincoln Park with ample parking.
      3168 Fort St, Lincoln Park, MI 48146
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    Similar Nearby for Lease

    • $2,500 /Mo
      1,500 SF

      Lincoln Park Commercial Space Available

      Commercial space ideal for retail, office, restaurant, or medical use.
      2476 Dix Hwy, Lincoln Park, MI 48146
      View Details
    • $9 SF/Yr

      Lincoln Park Retail Building Available

      10,964 SF retail building for sale or lease.
      3377 Fort St, Lincoln Park, MI 48146
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    • Contact for pricing

      Commercial Space for Lease

      Commercial space available for lease in Lincoln Park, Michigan.
      3723 Fort St, Lincoln Park, MI 48146
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    • Contact for pricing

      Lincoln Park Retail Space Available

      Retail space for lease in Lincoln Park, Michigan.
      1764 Fort St, Lincoln Park, MI 48146
      View Details
    • Contact for pricing

      Retail Space on Dix Hwy

      Retail spaces available from 2,000 to 11,942 sq ft.
      4089 Dix Hwy, Lincoln Park, MI 48146
      View Details
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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