13118 Fort StSouthgate, MI 48195

Property Details for 13118 Fort St

Year built

1957

Lot size

0.04 AC

Property size (Sq ft)

1,170 SF

Zone code

C-1 COMM BUS

Property type

Medical offices

Property subtype

Medical space

APN

53 017 02 0087 001

APU

53017020087001

Description

This Southgate, MI industrial property offers 1,170 square feet of space on a 0.04-acre lot at 13118 SW Fort. Its prime location on Fort Street provides excellent visibility and high traffic exposure, making it ideal for a variety of businesses. The building boasts a newer roof and air conditioning unit, minimizing maintenance concerns and ensuring a comfortable working environment. The property's versatility is further enhanced by the potential to acquire an adjacent building, offering opportunities for expansion or diversification of operations. The seller is motivated and open to a land contract, providing flexible financing options for potential buyers. This presents a compelling opportunity for entrepreneurs and businesses seeking a well-maintained, conveniently located industrial space in a high-traffic area. The property's size and location make it suitable for office or retail use, depending on the buyer's needs and preferences. The availability of a land contract adds to the attractiveness of this investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $210,483

  6.5%

  $194,292

  7%

  $180,414

• Comparable approach

  Method

  Valuation

  Relative Method

  $109,442

  Geo Method

  $109,442

• Alternative Use

  Use

  Valuation

  Residential

  $240,922

  Hospitality

  $220,683

  Educational

  $183,606

  Medical

  $189,920

  Retail

  $285,609

Location Insight

City

Southgate

County

Wayne

State

Michigan

Latitude

42.2128

Longitude

-83.1814

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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