Mixed-Use Office and Retail
For Sale
$1,250,000
23944 Eureka Road, Taylor, MI 48180
Commercial Sale, Taylor, MI
Property Size11,140 SF
Lot Size0.39 Acres
Price / SF$112.21
Days on Market304
Property Features for 23944 Eureka Road
General Information
Property type
Commercial Sale
Property subtype
Retail
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 3, Bathroom 1
Elementary school district
Taylor
Middle school district
Taylor
High school district
Taylor
Subdivision
Wayne County - 100
Standard status
Active
APN
60-070-01-0134-300
Size
11,140 SF
Lot size
0.39 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
28B134 TO 139A LOTS 134 TO 139 INCL EXC THE S 25 FT OF LOTS 138 AND 139 ALSO S 1/2 ADJ VAC ALLEY PATERSONS TELREKA SU
Tax Annual Amount
17540
Legal Description
28B134 TO 139A LOTS 134 TO 139 INCL EXC THE S 25 FT OF LOTS 138 AND 139 ALSO S 1/2 ADJ VAC ALLEY PATERSONS TELREKA SU
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Amenities
restrooms
kitchens
conference area
Building Details
Year built
2009
Number of units
21
Building materials
Brick
Listing Agency:
Vantage Realty Group, LLC
(734) 287-6619
Listed By:
Teressa Mann
(734) 991-3482
Added: Nov 17, 2025
Changed: Sep 16
Last Checked: Sep 17 at 3:06PM
MLS# 25058655
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This brick mixed-use property contains 11,140 square feet on a 0.39-acre site and was built in 2009. The first floor is arranged with seven office suites and a conference area, while the second floor includes a substantial retail area plus three additional suites. Each level includes restrooms and kitchen areas, supporting a combination of office and retail functions within one building. Office and retail areas have received recent updates.
Located at 23944 Eureka Road in Taylor, Michigan, the property sits along Eureka Road near Telegraph Road. Building systems include forced-air heating and central air conditioning, with cable availability listed among the utilities. The brick construction and two-level configuration provide a defined commercial setting for multiple occupants or an owner-user arrangement.
Located at 23944 Eureka Road in Taylor, Michigan, the property sits along Eureka Road near Telegraph Road. Building systems include forced-air heating and central air conditioning, with cable availability listed among the utilities. The brick construction and two-level configuration provide a defined commercial setting for multiple occupants or an owner-user arrangement.
Key Highlights
- 11,140‑square‑foot mixed‑use building on 0.39 acres
- Seven first‑floor office suites plus conference area
- Second floor includes retail area and 3 additional suites
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$105,554
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.44%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,111,080
$2.1M
Cap Rate 7%
$1,507,914
$1.5M
Cap Rate 9%
$1,172,822
$1.2M
Market Conditions
NOI Build-Up for 11,140 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$160.4K $14.40/SF
− Vacancy
−$9.6K −$0.86/SF
EGI
$150.8K $13.54/SF
− OpEx
−$45.2K −$4.06/SF
NOI
$105.6K $9.48/SF
Area
Wayne County, MI
Vacancy
6.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,111,080
Cap Rate 7%
$1,507,914
Cap Rate 9%
$1,172,822
Alternative Uses
Best Use
Mixed Use
$1.89M
$1.65M – $2.21M
NOI $132,343 @ 7.0% cap · market cap 10.59%
Second Best
Retail
$1.51M
$1.32M – $1.76M
NOI $105,554 @ 7.0% cap · market cap 8.44%
Theoretical Best
Specialty Retail
$2.06M
$1.80M – $2.41M
NOI $144,374 @ 7.0% cap · market cap 11.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
7
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
346
Businesses Nearby
Explore this area
Business Placement
Demographics for 48180, MI
63,409
Population
26,741
Households
2.4
Avg Household Size
39
Median Age
16%
College-Educated
87%
High-School Grad
23.6 sq mi
ZIP Area
2,687
Density / Sq Mi
$59,537
Median Household Income
$40,090
Median Earnings
$1,036
Median Rent
$141,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story commercial property combines offices, conference space, retail area, kitchens, and restrooms in a flexible layout.
Where is this mixed-use property located?
The property is located at 23944 Eureka Road Taylor, MI.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 11,140‑square‑foot mixed‑use building on 0.39 acres; Seven first‑floor office suites plus conference area; Second floor includes retail area and 3 additional suites
