Freestanding Drugstore
For Sale
$1,850,000
13545 Eureka Road, Southgate, MI 48195
Commercial Sale, Southgate, MI
Property Size10,972 SF
Lot Size0.70 Acres
Price / SF$168.61
Days on Market206
Property Features for 13545 Eureka Road
General Information
Property type
Commercial Sale
Property subtype
Retail
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Elementary school district
Southgate
Middle school district
Southgate
High school district
Southgate
Directions
Southeast Quadrant of Eureka and Trenton Roads
Standard status
Active
APN
53-019-08-0001-000
Size
10,972 SF
Lot size
0.70 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
UNIT 1 WAYNE COUNTY CONDOMINIUM SUBDIVISION PLAN 995 AKA SOUTHGATE SHOPPING CENTER, 1.17 ACRES LIBER 49570, PAGE 16, WCR
Tax Annual Amount
40573
Legal Description
UNIT 1 WAYNE COUNTY CONDOMINIUM SUBDIVISION PLAN 995 AKA SOUTHGATE SHOPPING CENTER, 1.17 ACRES LIBER 49570, PAGE 16, WCR
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air
Building Details
Year built
1999
Number of units
1
Listing Agency:
GRI Homes for Today
(248) 234-6789
Listed By:
Tjader Gerdom · License #6502357230
(248) 515-7606
Added: Mar 3
Changed: Sep 7
Last Checked: Sep 25 at 5:06PM
MLS# 26010169
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 freestanding former CVS building contains 10,972 square feet on approximately 0.7 acres. Built in 1999, the property is configured as a standalone drugstore asset with a bathroom, forced-air heating, and natural gas availability.
The building is located within Southgate Shopping Center near the southeast corner of Eureka and Trenton Roads. The center includes MJR Theater and Planet Fitness, along with other tenants, and provides ample parking, a lighted entrance, and access from both roads.
The building is located within Southgate Shopping Center near the southeast corner of Eureka and Trenton Roads. The center includes MJR Theater and Planet Fitness, along with other tenants, and provides ample parking, a lighted entrance, and access from both roads.
Key Highlights
- 10,972‑square‑foot freestanding former CVS building
- Approximately 0.7 acres
- Built in 1999
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
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Current Use
Lease Details
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
601
Businesses Nearby
9k
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
0.4 miles
A&W Restaurant
Dining
2,738 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- 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
- The Professors Choice Smart Soap — 13725 Eureka Rd, Southgate, MI 48195
Frequently Asked Questions
What type of property is this?
Drug store - Former pharmacy property within a shopping center, with access from both Eureka and Trenton Roads.
Where is this drug store located?
The property is located at 13545 Eureka Road 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: 10,972‑square‑foot freestanding former CVS building; Approximately 0.7 acres; Built in 1999
