Versatile Commercial Property For
For Sale
$650,000
1219 Eureka Avenue, Wyandotte, MI 48192
High-visibility commercial property with flexible space and ample parking.
Property Size6,465 SF
Price / SF$100.54
Days on Market168
Property Features for 1219 Eureka Avenue
General Information
Standard status
Active
Size
6,465 SF
Property subtype
Commercial
Zoning
Commercial
Lease Term
Cash, Conventional
Taxes and HOA fees
Annual Taxes
$7,761
Building Details
Building Size
6,465 SF
Year Built
1999
Listing Agency:
Golden Key Realty Group LLC
(248) 765-8998
Listed By:
Harry M Lee · License #6501376856
(248) 765-8998
Source:
Sabudarealty
Added: Mar 8
Changed: Aug 23
Last Checked: Aug 23 at 8:43AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Golden Key Realty Group LLC
Investment Insights
Based on property information with market context.
This commercial property offers over 6,000 square feet of versatile space in a prime location with high visibility. Power and utilities are already connected, facilitating immediate use. The spacious layout is suitable for a variety of uses, including showrooms, workshops, mixed-use concepts, or customized business ventures. Ample on-site parking with multiple parking spaces is available for customers, clients, and staff. The location has a walk score of 75, indicating it is very walkable, and a bike score of 55, indicating it is bikeable.
Key Highlights
- Prime location with high visibility.
- Over 6,000 square feet of versatile space.
- Ample on‑site parking.
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
$40,791
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
6.28%
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%
$815,820
$815.8K
Cap Rate 7%
$582,729
$582.7K
Cap Rate 9%
$453,233
$453.2K
Market Conditions
NOI Build-Up for 6,465 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
$65.2K $10.08/SF
− Vacancy
−$2.4K −$0.37/SF
EGI
$62.8K $9.71/SF
− OpEx
−$22.0K −$3.40/SF
NOI
$40.8K $6.31/SF
Area
Wayne County, MI
Vacancy
3.70%
Lease Rate
$10.08 /SF/Yr
Expense Ratio
35.00%
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%
$815,820
Cap Rate 7%
$582,729
Cap Rate 9%
$453,233
Alternative Uses
Best Use
Retail
$875.1K
$765.7K – $1.02M
NOI $61,257 @ 7.0% cap · market cap 9.42%
Second Best
Flex RnD
$582.7K
$509.9K – $679.9K
NOI $40,791 @ 7.0% cap · market cap 6.28%
Theoretical Best
Specialty Retail
$1.20M
$1.05M – $1.40M
NOI $83,786 @ 7.0% cap · market cap 12.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
439
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48192, MI
25,058
Population
11,441
Households
2.2
Avg Household Size
42
Median Age
21%
College-Educated
91%
High-School Grad
5.3 sq mi
ZIP Area
4,728
Density / Sq Mi
$67,846
Median Household Income
$42,999
Median Earnings
$995
Median Rent
$159,700
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Showroom - High-visibility commercial property with flexible space and ample parking.
Where is this showroom located?
The property is located at 1219 Eureka Avenue Wyandotte, MI.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Prime location with high visibility.; Over 6,000 square feet of versatile space.; Ample on‑site parking.
