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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3115 Ft St Lincoln Park, MI 48146-3601

    • Grocery and convenience stores
    • 3,160 SF
    • 0.19 lot acres
    OFF-MARKET
    Last Sale
    Jan 23, 2024
    $169,000
    Value Estimations
    $170,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-5106457
    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

    • Grocery and convenience stores

    Property Details for 3115 Ft St

    Year built
    1946
    Lot size
    0.19 lot acres
    Property size
    3,160 SF
    Property type
    Grocery and convenience stores
    APN
    45 012 03 0243 301
    APU
    45012030243301

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $170,000
      ML approach
      $170,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $250,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lincoln Park
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1796
    Latitude
    42.2401
    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
    $7,111
    $0.00
    $0.00
    $115,500
    -
    $0.00
    $0.00
    $231,000

    Comparable in this City

    • Value Estimation by Request
      62,922 SF

      2060 Dix Hwy

      GROCERY, SUPERMARKET • 62,922 SF
      2060 Dix Hwy, Lincoln Park, MI 48146-2274
      View Details
    • Value Estimation by Request
      1,620 SF

      2308 Ft St

      CONVENIENCE STORE • 1,620 SF
      2308 Ft St, Lincoln Park, MI 48146-2421
      View Details
    • Value Estimation by Request
      1,481 SF

      3869 Ft St

      CONVENIENCE STORE • 1,481 SF
      3869 Ft St, Lincoln Park, MI 48146-4119
      View Details
    • Value Estimation by Request
      4,973 SF

      3807 Ft St

      GROCERY, SUPERMARKET • 4,973 SF
      3807 Ft St, Lincoln Park, MI 48146-4106
      View Details
    • Value Estimation by Request
      2,400 SF

      1312 Ft St

      CONVENIENCE STORE • 2,400 SF
      1312 Ft St, Lincoln Park, MI 48146-1815
      View Details
    • Value Estimation by Request
      2,790 SF

      2207 Southfield Rd

      CONVENIENCE STORE • 2,790 SF
      2207 Southfield Rd, Lincoln Park, MI 48146-2251
      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
      View Details
    • $269,000

      Retail Property on Fort Street

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

      Updated Building on Southfield Road

      Updated retail building with high visibility and easy freeway access.
      1088 Southfield Rd, 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
    • $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
      View Details

    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
      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
    • $2,000 /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
    • $2,500 /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
      4.6k
    • Visitors by month
      3.2k
    • Avg Time on site
      11 min
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    Lincoln Park, MI 48146-3601
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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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