Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1020 Goddard Rd Lincoln Park, MI 48146-4452

    • Commercial real estate
    • 2,770 SF
    • 1.92 lot acres
    OFF-MARKET
    Value Estimations
    $540,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0952310
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Bella Vista Apartments Lincoln Pk / Apartment Complex
    • Layahs Place American Cuisine / Restaurant
    • U.B.U Clothing Sales / Clothing Store

    Property Details for 1020 Goddard Rd

    Year built
    1965
    Lot size
    1.92 lot acres
    Property size
    2,770 SF
    Property type
    Commercial real estate
    APN
    45 020 05 0010 000
    APU
    45020050010000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $541,000
      Market price range: $126k - $542k
      AI Estimate
      $541,000
      Market price range: $126k - $542k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lincoln Park
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1771
    Latitude
    42.2222
    CBSA code
    19820
    CBSA name
    DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2019
    $30,617
    $0.00
    $0.00
    $856,800
    -
    $0.00
    $0.00
    $1,713,600

    Comparable in this City

    • Value Estimation by Request

      3525 Dix Hwy

      COMMERCIAL (GENERAL)
      3525 Dix Hwy, Lincoln Park, MI 48146-3862
      View Details
    • Value Estimation by Request
      0.16 Acres

      Electric

      COMMERCIAL (GENERAL) • 0.16 Acres
      Electric, Lincoln Park, MI 48146
      View Details
    • Value Estimation by Request
      0.19 Acres

      1187 Empire Ave

      COMMERCIAL (GENERAL) • 0.19 Acres
      1187 Empire Ave, Lincoln Park, MI 48146-2046
      View Details
    • Value Estimation by Request
      0.84 Acres

      1122 Harrison Blvd

      COMMERCIAL (GENERAL) • 0.84 Acres
      1122 Harrison Blvd, Lincoln Park, MI 48146-4220
      View Details
    • Value Estimation by Request
      1,396 SF

      1540 Riverbank St

      COMMERCIAL (GENERAL) • 1,396 SF
      1540 Riverbank St, Lincoln Park, MI 48146-3867
      View Details
    • Value Estimation by Request
      0.26 Acres

      Lincoln Park, MI 48146

      COMMERCIAL (GENERAL) • 0.26 Acres
      Lincoln Park, MI 48146
      View Details

    Similar Nearby for Sale

    • $200,000

      Lincoln Park Restaurant - For Sale

      Established Pizza & Grinder Business, High Traffic Area
      0 Pizza & Grinder Restaurant, Lincoln Park, MI 48146
      View Details
    • $1,450,000
      1.96 Acres

      Lincoln Park Commercial Land Investment

      1.96 Acres, MX-2 Zoning, $1.45M
      3574-3760 Fort St, Lincoln Park, MI 48146
      View Details
    • $1,120,000
      1.52 Acres

      Lincoln Park Commercial Land - MX-2 Zoning

      1.52 Acres, Prime Location, Development Ready
      3574 Fort St, Lincoln Park, MI 48146
      View Details
    • Contact for pricing
      1,560 SF

      Lincoln Park Executive Office Space

      1,560 SF Office/Retail, Newly Renovated
      3723 Fort St, Lincoln Park, MI 48146
      View Details
    • $100,000

      Renovated Commercial Space on Fort

      1,400 sq ft commercial space in high-traffic location.
      2962 Fort St, Lincoln Park, MI 48146
      View Details
    • $579,900

      Versatile Commercial Building with Kitchen

      Spacious commercial building with banquet hall and equipped kitchen.
      1911 Horger St, Lincoln Park, MI 48146
      View Details

    Similar Nearby for Lease

    • $5 SF/Yr
      195,609 SF

      Lincoln Park Plaza: Office & Retail

      Prime Lincoln Park commercial space. Multiple suites available.
      3574-3760 Fort St, Lincoln Park, MI 48146
      View Details
    • $9 SF/Yr
      3,750 SF

      Fort Street Warehouse - Prime Location

      Spacious Warehouse, High Visibility, Ample Parking
      2070 Fort St, Lincoln Park, MI 48146
      View Details
    • $8,900 /Mo

      Equipped Automotive Facility For Lease

      8000 sq ft automotive facility with equipment and car lot.
      533 Southfield Rd, Lincoln Park, MI 48146
      View Details
    • $1,200 /Mo
      1,000 SF

      Commercial Space on Southfield Road

      1,000 sq ft commercial space in Lincoln Park, Michigan.
      1116 Southfield Rd, Lincoln Park, MI 48146
      View Details
    • $35 SF/Yr
      73,966 SF

      Retail Development at Major Intersection

      New retail development with high visibility and easy highway access.
      2100 Southfield Rd, Lincoln Park, MI 48146
      View Details
    • $35 SF/Yr
      100,989 SF

      Lincoln Park Retail Space Available

      High-Visibility Retail Space in Lincoln Park, MI
      2100 Southfield Rd, Lincoln Park, MI 48146
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1020 Goddard Rd
    Lincoln Park, MI 48146-4452
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.