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    10118 Eagle St Dearborn, MI 48120

    Sponsored
    For Sale
    $1,100,000

    Real Estate Only - Dearborn, MI

    Property size:
    4,264 SF
    Lot size:
    0.57 Acres
    Days on Market:
    3
    Last Refresh:
    Feb 6 at 6:06 am

    Property Features for 10118 Eagle St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Commercial
    APN
    32821021102010
    Exterior features
    Garage
    Size
    4,264 SF
    Lot size
    0.57 Acres

    Building Details

    Year built
    1920
    Year renovated
    2025
    Floors in Building
    1
    Building materials
    Brick, Stone
    Architectural style
    Other
    Additional Structures
    Garage(s)

    We can help!

    Listing Contact
    Jeff Glover

    Keller Williams Professionals (734) 459-4700

    Listing agent Jeff Glover (734) 459-4700

    Listing date Feb 4, 2026

    MLS# 20261005231 Listing URL

    Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Dearborn Commercial Property with Expansion Potential

    This commercial property in Dearborn, MI, situated on 0.57 acres, is zoned I-A (Light Industrial District), accommodating businesses such as research and technology, clean/light manufacturing, warehousing and distribution, industrial support offices, and utility facilities. Rezoning could allow for a community center, wedding venue, or day care. The location off Wyoming Ave benefits from an average daily traffic count of 11,110. The property includes 30+ on-site parking spaces, plus 10+ additional spaces adjacent to the alley in a side yard, along with two, 2-car garages providing an extra combined 1,550 square feet. The interior features 4,264 square feet of space, including a 2-stall bathroom, a single-person bathroom, a kitchenette area, and a bonus room suitable for an office or flex space. Recent updates include newer flooring, all new joists in the main area, spray foam insulation, a heated garage (2025) with an insulated door, drywall (2023), windows (2023), a roof (2023), and a hot water tank (2019). A large 1800 square foot basement, plumbed for a bathroom, increases the total footprint to 6,064 square feet. The sale includes three parcels: 321021102011, 321021102010, and 321021102009, totaling 9 city lots.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    CHAVOS TACOS

    Location Insight

    • Map
    • Local Demand
    City
    Dearborn
    County
    Wayne
    State
    Michigan
    Longitude
    -83.151294
    Latitude
    42.312546

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    FAQs

    What type of property is this?
    Flex space - Versatile commercial property in Dearborn, MI, ideal for various businesses.
    Where is this flex space located?
    The property is located at 10118 Eagle St Dearborn, MI.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: - Zoned I-A (Light Industrial District) offering diverse business opportunities and potential for rezoning.; - Large 0.57-acre lot comprised of 9 city lots across three parcels.; - Ample parking with **30+ on-site spaces** plus 10+ additional spaces.
    (734) 459-4700
    Request Owner's contact information
    10118 Eagle St Dearborn, MI 48120
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    Dearborn, MI 48120
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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
    10118 Eagle St Dearborn, MI 48120
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    We can help!
    Listing Contact
    Jeff Glover
    (734) 459-4700
    Learn more
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