Versatile Flex
For Sale
$650,000
1219 Eureka Rd, Wyandotte, MI
Connected utilities and adaptable interior support showroom, workshop, and mixed-use business concepts.
Property Size6,465 SF
Price / SF$100.54
Days on Market153
Property Features for 1219 Eureka Rd
General Information
Standard status
Active
Size
6,465 SF
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$7,761
Listing Agency:
Golden Key Realty Group LLC
(248) 765-8998
Listed By:
Harry M Lee · License #6501376856
(248) 765-8998
Source:
Exprealty
Added: Mar 8
Changed: Aug 3
Last Checked: Aug 8 at 8:59AM
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 6,465-square-foot flex property at 1219 Eureka Rd combines a broad interior footprint with utility infrastructure already in place. The space can accommodate showroom operations, workshop activity, mixed-use concepts, or a customized commercial configuration, subject to applicable requirements.
On-site parking supports customer, client, and employee access. Located in Wyandotte, Michigan, the property offers a flexible commercial setting for an owner-user or business seeking adaptable space.
On-site parking supports customer, client, and employee access. Located in Wyandotte, Michigan, the property offers a flexible commercial setting for an owner-user or business seeking adaptable space.
Key Highlights
- 6,465 square feet of flex space
- Power and utilities are already connected
- Layout supports showroom, workshop, and mixed‑use concepts
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
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
448
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Jay Ray's BBQ — 2803 1st St, Wyandotte, MI 48192
- Elmer's Rustic Steak Pit Halls — 606 Goddard Rd, Wyandotte, MI 48192
- Frank n Dean's Catering — 976 Pope John Paul II Ave, Wyandotte, MI 48192
Frequently Asked Questions
What type of property is this?
Flex space - Connected utilities and adaptable interior support showroom, workshop, and mixed-use business concepts.
Where is this flex space located?
The property is located at 1219 Eureka Rd 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: 6,465 square feet of flex space; Power and utilities are already connected; Layout supports showroom, workshop, and mixed‑use concepts
