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    Property profile & analytics

    2308 Ft St Lincoln Park, MI 48146-2421

    • Grocery and convenience stores
    • 1,620 SF
    • 0.28 lot acres
    OFF-MARKET
    Last Sale
    Aug 01, 2023
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1368328
    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

    • bp / Gas Station
    • ATM / Atm
    • FedEx Drop Box / Mailing Service

    Property Details for 2308 Ft St

    Year built
    1996
    Lot size
    0.28 lot acres
    Property size
    1,620 SF
    Property type
    Grocery and convenience stores
    APN
    45 009 06 0084 300
    APU
    45009060084300

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lincoln Park
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1799
    Latitude
    42.2459
    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
    $8,962
    $0.00
    $0.00
    $152,700
    -
    $0.00
    $0.00
    $305,400

    Comparable in this City

    • Value Estimation by Request
      5,200 SF

      1727 Southfield Rd

      CONVENIENCE STORE • 5,200 SF
      1727 Southfield Rd, Lincoln Park, MI 48146-2261
      View Details
    • Value Estimation by Request
      15,990 SF

      2170 Dix Hwy

      GROCERY, SUPERMARKET • 15,990 SF
      2170 Dix Hwy, Lincoln Park, MI 48146-2272
      View Details
    • Value Estimation by Request
      3,280 SF

      1086 Dix Hwy

      GROCERY, SUPERMARKET • 3,280 SF
      1086 Dix Hwy, Lincoln Park, MI 48146-1259
      View Details
    • Value Estimation by Request
      2,400 SF

      2076 Ft St

      GROCERY, SUPERMARKET • 2,400 SF
      2076 Ft St, Lincoln Park, MI 48146-2403
      View Details
    • Value Estimation by Request
      1,247 SF

      4140 Ft St

      CONVENIENCE STORE • 1,247 SF
      4140 Ft St, Lincoln Park, MI 48146-4123
      View Details
    • Value Estimation by Request
      2,225 SF

      3306 Ft St

      GROCERY, SUPERMARKET • 2,225 SF
      3306 Ft St, Lincoln Park, MI 48146-3627
      View Details

    Similar Nearby for Sale

    • $375,000
      3,140 SF

      Lincoln Park Retail Opportunity

      Established business and real estate for sale in Lincoln Park.
      3355 Dix Hwy, Lincoln Park, MI 48146
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    • $269,000

      Retail Property on Fort Street

      Retail property with on-site parking and high traffic visibility.
      3807 Fort St, Lincoln Park, MI 48146
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    • $325,000

      Updated Building on Southfield Road

      Updated retail building with high visibility and easy freeway access.
      1088 Southfield Rd, Lincoln Park, MI 48146
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    • $325,000
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      Lincoln Park Retail Storefront For Sale

      Prime Retail Space, Newly Renovated, High Traffic
      1764 Fort St, Lincoln Park, MI 48146
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    • $209,900

      Lincoln Park Retail Opportunity

      Well-maintained 1,771 SF building with parking in Lincoln Park.
      3769 Fort St, Lincoln Park, MI 48146
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    • $99,990

      Established Liquidation Store For Sale

      Thriving liquidation store with loyal clientele and consistent sales.
      3732 Fort St, Lincoln Park, MI 48146
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    Similar Nearby for Lease

    • $9 SF/Yr
      10,964 SF

      Lincoln Park Retail Building For Sale/Lease

      10,964 SF Freestanding Retail Space in Michigan
      3377 Fort St, Lincoln Park, MI 48146
      View Details
    • $11 SF/Yr
      4,000 SF

      Lincoln Park Retail Space For Lease

      Newly renovated, 4,000 SF storefront.
      1764 Fort St, Lincoln Park, MI 48146
      View Details
    • $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
    • $2,000 /Mo
      2,300 SF

      Lincoln Park Retail Space For Rent

      Recently renovated standalone building with high visibility in Lincoln Park.
      1132 Southfield Rd, Lincoln Park, MI 48146
      View Details
    • $2,000 /Mo
      1,771 SF

      Prime Retail Space on Fort

      Turn-key 1,800 sq ft commercial space for lease.
      3769 Fort St, Lincoln Park, MI 48146
      View Details
    • $2,500 /Mo

      Freestanding Building on Fort Street

      3,100+ sqft building for lease in busy area.
      3115 Fort St, Lincoln Park, MI 48146
      View Details

    Property Visit Statistics

    • Visits by month
      13.5k
    • Visitors by month
      8.3k
    • Avg Time on site
      5 min
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    Lincoln Park, MI 48146-2421
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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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