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    Property profile & analytics

    2785 S Fort St Detroit, MI 48217

    • Office buildings
    • 1,962 SF
    • 0.12 lot acres
    For Lease
    View listing
    $1,600 /Mo
    Last Sale
    Dec 06, 2023
    $80,000
    Value Estimations
    $105,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1735490
    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

    • Office buildings

    Property Details for 2785 S Fort St

    Year built
    1942
    Lot size
    0.12 lot acres
    Property size
    1,962 SF
    Zone code
    B4
    Property type
    Office buildings
    APN
    20015073-4
    APU
    200150734

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $100,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $120,000
      Market price range: $49.9k - $199k
      AI Estimate
      $120,000
      Market price range: $51.3k - $199k

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.161
    Latitude
    42.2686
    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
    2020
    $2,438
    $0.00
    $0.00
    $46,400
    -
    $0.00
    $0.00
    $92,800

    Comparable in this City

    • Value Estimation by Request
      7,872 SF

      2921 Ft St

      OFFICE BUILDING • 7,872 SF
      2921 Ft St, Detroit, MI 48217-1032
      View Details
    • Value Estimation by Request
      3,652 SF

      765 Oakwood

      OFFICE BUILDING • 3,652 SF
      765 Oakwood, Detroit, MI 48217-1319
      View Details
    • Value Estimation by Request
      2,160 SF

      2516 Schaefer Hwy

      OFFICE BUILDING • 2,160 SF
      2516 Schaefer Hwy, Detroit, MI 48217-1623
      View Details
    • Value Estimation by Request
      2,380 SF

      411 Ft St

      OFFICE BUILDING • 2,380 SF
      411 Ft St, Detroit, MI 48217-1402
      View Details
    • Value Estimation by Request
      128,537 SF

      12800 Visger St

      OFFICE BUILDING • 128,537 SF
      12800 Visger St, Detroit, MI 48217-1056
      View Details
    • Value Estimation by Request
      1,386 SF

      2409 Ft St

      OFFICE BUILDING • 1,386 SF
      2409 Ft St, Detroit, MI 48217-1015
      View Details

    Similar Nearby for Sale

    • $2,000,000

      Commercial Land For Sale

      Commercial land available for sale.
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      View Details
    • $30,000
      0.07 Acres

      Detroit Vacant Land Opportunity

      Vacant lot in Detroit's Boynton neighborhood, ideal for development.
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    • $650,000

      Detroit Industrial Property For Sale

      Large industrial property with M-4 zoning and freeway access.
      12501 Sanders St, Detroit, MI 48217
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    • $99,000
      0.65 Acres

      2700 Schaefer Rd

      Land • 0.65 Acres
      2700 Schaefer Rd, Detroit, MI 48217
      View Details
    • $499,900
      6,600 SF

      Retail Strip Mall For Sale

      6,600 SF retail strip mall on corner lot.
      2300 S Schaefer Hwy, Detroit, MI 48217
      View Details
    • $44,950

      Commercial Lots on Well-Traveled Road

      Three buildable commercial lots with over 10,000 sqft available.
      2601 S Fort St, Detroit, MI 48217
      View Details

    Similar Nearby for Lease

    • $1,500 /Mo

      Retail/Office Space For Lease

      Two commercial units available for lease in high-traffic area.
      465 S Schaefer Hwy, Detroit, MI 48217
      View Details
    • $1,600 /Mo
      1,962 SF

      Detroit Commercial Space For Lease

      Versatile commercial space suitable for various professional and service businesses.
      2785 S Fort St, Detroit, MI 48217
      View Details
    • $17 SF/Yr
      3,322 SF

      Detroit Retail Space - Fort Street

      Prime 2,000 SF Retail Space Available
      3511 Fort St, Detroit, MI 48217
      View Details
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    2785 S Fort St
    Detroit, MI 48217
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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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