Mixed-Use Retail and
For Sale
$750,000
14226 Eureka Road, Southgate, MI 48195
Mixed-use property with ground-floor retail and a second-floor apartment, and recent exterior improvements including roof and generator.
Property Size4,000 SF
Days on Market122
Property Features for 14226 Eureka Road
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Retail
Additional Details
Traffic Count
31,746 vehicles/day
Building Details
Building Size
4,000 SF
Year Built
1950
Stories
2
Listing Agency:
KJ Commercial
Listed By:
Preston Rabban · License #MI #6501391831
(248) 631-7422
Source:
Kjcre
Added: May 7
Changed: Aug 26
Last Checked: Sep 5 at 4:35AM
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 KJ Commercial
Investment Insights
Based on property information with market context.
This mixed-use property combines ground-floor retail with a second-floor apartment. The retail portion totals approximately 2,000 SF and can be split into two spaces. The residential component totals approximately 2,000 SF and is described as a 3-bed, 1-bath unit with living/dining areas, a kitchen, a utility room, and a walk-in closet, noted as a permitted non-conforming residential use.
Recent improvements include a newer roof, a generator, and front windows. The property is fully owner-occupied and is described as flexible for either an owner-user configuration or an investment conversion.
Located on the north side of Eureka Road in Southgate, MI, between Dix Toledo and Fort Street, the building benefits from exposure to 31,746 VPD traffic, with 218K+ population reported within a 5-mile radius. It is directly across the street from national retailers and established shopping centers.
Recent improvements include a newer roof, a generator, and front windows. The property is fully owner-occupied and is described as flexible for either an owner-user configuration or an investment conversion.
Located on the north side of Eureka Road in Southgate, MI, between Dix Toledo and Fort Street, the building benefits from exposure to 31,746 VPD traffic, with 218K+ population reported within a 5-mile radius. It is directly across the street from national retailers and established shopping centers.
Key Highlights
- Mixed‑use building with 2,000 SF ground‑floor retail and 2,000 SF second‑floor apartment
- Owner‑occupied; offers flexibility for owner‑user use or conversion for investment purposes
- Recent exterior improvements include a newer roof, generator, and front windows
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
$47,520
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
6.34%
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%
$950,400
$950.4K
Cap Rate 7%
$678,857
$678.9K
Cap Rate 9%
$528,000
$528.0K
Market Conditions
NOI Build-Up for 4,000 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
$86.4K $21.60/SF
− Vacancy
−$10.4K −$2.59/SF
EGI
$76.0K $19.01/SF
− OpEx
−$28.5K −$7.13/SF
NOI
$47.5K $11.88/SF
Area
Wayne County, MI
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$950,400
Cap Rate 7%
$678,857
Cap Rate 9%
$528,000
Alternative Uses
Best Use
Mixed Use
$678.9K
$594.0K – $792.0K
NOI $47,520 @ 7.0% cap · market cap 6.34%
Second Best
Retail
$541.4K
$473.8K – $631.7K
NOI $37,901 @ 7.0% cap · market cap 5.05%
Theoretical Best
Specialty Retail
$740.6K
$648.0K – $864.0K
NOI $51,840 @ 7.0% cap · market cap 6.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
31,746 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
447
Businesses Nearby
Explore this area
Business Placement
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with ground-floor retail and a second-floor apartment, and recent exterior improvements including roof and generator.
Where is this mixed-use property located?
The property is located at 14226 Eureka Road Southgate, MI.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Mixed‑use building with 2,000 SF ground‑floor retail and 2,000 SF second‑floor apartment; Owner‑occupied; offers flexibility for owner‑user use or conversion for investment purposes; Recent exterior improvements include a newer roof, generator, and front windows
