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    Property profile & analytics

    2323 Dix Hwy Lincoln Park, MI 48146-2201

    • Auto shops
    • 9,968 SF
    • 0.24 lot acres
    OFF-MARKET
    Last Sale
    Sep 11, 2023
    Value Estimations
    $630,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1014563
    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

    • Gerber Collision & Glass / Auto Repair Shop

    Property Details for 2323 Dix Hwy

    Year built
    2007
    Lot size
    0.24 lot acres
    Property size
    9,968 SF
    Property type
    Auto shops
    APN
    45 010 07 1115 301
    APU
    45010071115301

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $631,000
      Market price range: $303k - $631k
      AI Estimate
      $631,000
      Market price range: $303k - $631k

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $490,000
      Current use
      RESTAURANT
      $1,030,000
      Change: +110% Conversion: Difficult
      RETAIL STORES
      $970,000
      Change: +98% Conversion: Difficult
      OFFICE BUILDING
      $970,000
      Change: +97% Conversion: Difficult
      MEDICAL BUILDING
      $940,000
      Change: +91% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $795,000
      Change: +61% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Lincoln Park
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1946
    Latitude
    42.2506
    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
    $24,426
    $0.00
    $0.00
    $373,800
    -
    $0.00
    $0.00
    $747,600

    Comparable in this City

    • Value Estimation
      $5,270,000
      105,503 SF

      25500 Outer Dr

      AUTO REPAIR, GARAGE • 105,503 SF
      25500 Outer Dr, Lincoln Park, MI 48146-1242
      View Details
    • Value Estimation by Request
      2,480 SF

      2580 Dix Hwy

      AUTO REPAIR, GARAGE • 2,480 SF
      2580 Dix Hwy, Lincoln Park, MI 48146-2511
      View Details
    • Value Estimation by Request
      1,683 SF

      3562 Dix Hwy

      AUTO REPAIR, GARAGE • 1,683 SF
      3562 Dix Hwy, Lincoln Park, MI 48146-3869
      View Details
    • Value Estimation by Request
      7,920 SF

      2230 Dix Hwy

      AUTO REPAIR, GARAGE • 7,920 SF
      2230 Dix Hwy, Lincoln Park, MI 48146-2221
      View Details
    • Value Estimation by Request
      1,800 SF

      1406 Dix Hwy

      AUTO REPAIR, GARAGE • 1,800 SF
      1406 Dix Hwy, Lincoln Park, MI 48146-1402
      View Details
    • Value Estimation by Request
      7,663 SF

      3309 Ft St

      AUTO REPAIR, GARAGE • 7,663 SF
      3309 Ft St, Lincoln Park, MI 48146-3626
      View Details

    Similar Nearby for Sale

    • $399,900
      Pending

      Established Mechanic Shop with Bays

      Well-established mechanic shop with three bays and expansion potential.
      4153 Dix Hwy, Lincoln Park, MI 48146
      View Details
    • $449,900
      Pending

      Established Auto Repair Shop For Sale

      Well-equipped auto repair shop on high-traffic Fort St available for sale.
      1306 Fort St, Lincoln Park, MI 48146
      View Details
    • $449,900
      2,795 SF

      Established Auto Repair Shop For Sale

      Well-equipped auto repair shop on high-traffic Fort St.
      1306 Fort St, Lincoln Park, MI 48146
      View Details
    • $325,000
      4,000 SF

      Lincoln Park Retail Storefront For Sale

      Prime Retail Space, Newly Renovated, High Traffic
      1764 Fort St, Lincoln Park, MI 48146
      View Details
    • $750,000
      1,800 SF

      Dix Hwy Retail Building - Lincoln Park

      Turnkey Retail Space, High Visibility
      1327 Dix Hwy, Lincoln Park, MI 48146
      View Details
    • $695,000
      10,964 SF

      Lincoln Park Retail Building - $695K

      10,964 SF Retail Space, High Visibility
      3377 Fort St, Lincoln Park, MI 48146
      View Details

    Similar Nearby for Lease

    • $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
    • Contact for pricing

      Lincoln Park Commercial Property Available

      Commercial property available for rent in Lincoln Park, Michigan.
      4089 Dix Hwy, Lincoln Park, MI 48146
      View Details
    • Contact for pricing
      3,200 SF

      Lincoln Park Retail Space For Lease

      Prime retail space, high foot traffic.
      3170 Fort St, 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
    • $25 SF/Yr
      1,800 SF

      Dix Hwy Retail Space - Lincoln Park

      1800 SF Retail Space For Lease
      1327 Dix Hwy, Lincoln Park, MI 48146
      View Details

    Property Visit Statistics

    • Visits by month
      13.0k
    • Visitors by month
      12.7k
    • Avg Time on site
      13 min
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    Lincoln Park, MI 48146-2201
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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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