Freestanding Retail
For Sale
$1,850,000
13545 Eureka Road Southgate, Southgate, MI 48195
Freestanding former CVS in Southgate Shopping Center with ample parking and access from Eureka and Trenton Roads.
Property Size10,972 SF
Days on Market49
Property Features for 13545 Eureka Road Southgate
General Information
Standard status
Active
Size
10,972 SF
Taxes and HOA fees
Annual Taxes
$40,573
Amenities
Yes
1
10972
No
Real Estate
0.7
175x192
10972.0
Building Details
Building Size
10,972 SF
Year Built
1999
Buildings
1
Listing Agency:
(269) 399-5881
Listed By:
Samantha Root
(269) 399-5881
Source:
Remax-executive
Added: Jul 13
Changed: Aug 20
Last Checked: Aug 30 at 1:21PM
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 Samantha Root
Investment Insights
Based on property information with market context.
Freestanding former CVS is available for sale or lease as part of the Southgate Shopping Center. The property includes a lighted entrance and is positioned within a retail center setting.
The shopping center is located at the southeast quadrant of Eureka and Trenton Roads and offers ample parking with easy access from both roads. The center includes tenants such as MJR Theater and Planet Fitness.
This freestanding storefront configuration can support an owner-user or investor strategy within an established shopping center environment.
The shopping center is located at the southeast quadrant of Eureka and Trenton Roads and offers ample parking with easy access from both roads. The center includes tenants such as MJR Theater and Planet Fitness.
This freestanding storefront configuration can support an owner-user or investor strategy within an established shopping center environment.
Key Highlights
- Freestanding former CVS located within Southgate Shopping Center (southeast quadrant of Eureka and Trenton Roads)
- 10,972 SF building on a 0.7‑acre lot (175 x 192) with 1 building
- Year built 1999; heating available; 1 total bath
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
$142,197
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
7.69%
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%
$2,843,940
$2.8M
Cap Rate 7%
$2,031,386
$2.0M
Cap Rate 9%
$1,579,967
$1.6M
Market Conditions
NOI Build-Up for 10,972 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
$197.5K $18.00/SF
− Vacancy
−$7.9K −$0.72/SF
EGI
$189.6K $17.28/SF
− OpEx
−$47.4K −$4.32/SF
NOI
$142.2K $12.96/SF
Area
Wayne County, MI
Vacancy
4.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,843,940
Cap Rate 7%
$2,031,386
Cap Rate 9%
$1,579,967
Alternative Uses
Best Use
Specialty Retail
$2.03M
$1.78M – $2.37M
NOI $142,197 @ 7.0% cap · market cap 7.69%
Second Best
Retail
$1.49M
$1.30M – $1.73M
NOI $103,962 @ 7.0% cap · market cap 5.62%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
597
Businesses Nearby
7k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
KFC
Dining
6,562 visits/mo
0.5 miles
Demographics for 48195, MI
30,014
Population
13,033
Households
2.3
Avg Household Size
42
Median Age
21%
College-Educated
89%
High-School Grad
6.9 sq mi
ZIP Area
4,350
Density / Sq Mi
$64,635
Median Household Income
$43,368
Median Earnings
$1,102
Median Rent
$165,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Kroger Pharmacy — 16705 Fort St, Southgate, MI 48195
- Meijer Pharmacy — 16300 Fort St, Southgate, MI 48195
- CVS Pharmacy — 16300 fort st, southgate, mi 48195
- Belavista Drugs — 15830 Fort St # 5, Southgate, MI 48195
- Smoothie King — 16230 Fort St, Southgate, MI 48195
Frequently Asked Questions
What type of property is this?
Drug store - Freestanding former CVS in Southgate Shopping Center with ample parking and access from Eureka and Trenton Roads.
Where is this drug store located?
The property is located at 13545 Eureka Road Southgate Southgate, MI.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Freestanding former CVS located within Southgate Shopping Center (southeast quadrant of Eureka and Trenton Roads); 10,972 SF building on a 0.7‑acre lot (175 x 192) with 1 building; Year built 1999; heating available; 1 total bath
