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    2221-2225 Fort St Lincoln Park, MI 48146
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    2221-2225 Fort St Lincoln Park, MI 48146

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    • Retail properties & Spaces
    • 3,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 2221-2225 Fort St

    Year built
    1920
    Property size
    3,000 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    This exceptional 3,000 square foot commercial property, located at 2221-2225 Fort Street in Lincoln Park, Michigan, presents a compelling investment opportunity. Built in 1920, the building is zoned for Neighborhood Business use, offering versatility for a range of commercial ventures. The asking price is $125,000, translating to a land value of $41.67 per square foot. Situated on a heavily traveled section of Fort Street, this property boasts excellent visibility and accessibility, ensuring high foot traffic and brand exposure. Its central location places it in close proximity to numerous regional and national retailers, further enhancing its appeal and potential for success. The property's existing structure provides a solid foundation for immediate occupancy or a value-add renovation project, catering to the needs of a diverse clientele. The property's location within a densely populated area guarantees a substantial customer base. The Wayne County address, with a zip code of 48146, and the APN 45-009-04-0050-000, provide convenient identification for interested parties. This property is ideal for businesses seeking a high-visibility location in a thriving commercial district. The executive office subtype offers a unique opportunity for a professional setting within a bustling retail environment.

    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
    -83.1782
    Latitude
    42.2471

    Comparable in this City

    • Value Estimation by Request
      8,000 SF

      1758 Fort St

      Office Spaces • 8,000 SF
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    • Value Estimation by Request
      195,609 SF

      3574-3760 Fort St

      Land • 195,609 SF
      3574-3760 Fort St, Lincoln Park, MI 48146
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    • Value Estimation by Request
      13,680 SF

      24970 Outer Dr

      Office Spaces • 13,680 SF
      24970 Outer Dr, Lincoln Park, MI 48146
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      22.00 Acres

      Dix Hwy

      Land • 6,817 SF
      0 Dix Hwy, Lincoln Park, MI 48146
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    • Value Estimation by Request
      4,048 SF

      3535 Ft St

      NURSERY, GREENHOUSE, FLORIST • 4,048 SF
      3535 Ft St, Lincoln Park, MI 48146-4101
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    • Value Estimation by Request
      1,328 SF

      2911 Ft St

      NURSERY, GREENHOUSE, FLORIST • 1,328 SF
      2911 Ft St, Lincoln Park, MI 48146-2425
      View Details

    Similar Nearby for Sale

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      9,990 SF

      Lincoln Park Retail Investment Opportunity

      Retail property in Lincoln Park with 8% CAP rate.
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      3,200 SF

      High-Visibility Commercial Building on Fort

      3,200 SF commercial building on high-traffic Fort Street corridor.
      3168 Fort St, Lincoln Park, MI 48146
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      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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      1,560 SF

      Lincoln Park Commercial Space

      Commercial space available for sale in Lincoln Park, Michigan.
      3723 Fort St, Lincoln Park, MI 48146
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    • $324,995
      0.35 Acres

      Commercial Land with Paved Parking

      Vacant commercial land with existing parking in Lincoln Park.
      722 Southfield Rd, Lincoln Park, MI 48146
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    Similar Nearby for Lease

    • Contact for pricing

      Lincoln Park Retail Space Available

      Retail space for lease in Lincoln Park, Michigan.
      1764 Fort St, Lincoln Park, MI 48146
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    • $25 SF/Yr
      1,800 SF

      Dix Hwy Retail Space - Lincoln Park

      1800 SF Retail Space For Lease
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      Lincoln Park Commercial Space Available

      Commercial space ideal for retail, office, restaurant, or medical use.
      2476 Dix Hwy, 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
      View Details
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    Lincoln Park, MI 48146
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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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