Four-Unit Remodeled Strip
16134-16146 Eureka Rd, Southgate, MI 48195
For Sale
$1,950,000
Four occupied suites comprise a remodeled retail center positioned at a signalized intersection.
Property Size14,072 SF
Lot Size0.33 Acres
Price / SF$124.78
Days on Market94
Property Features for 16134-16146 Eureka Rd
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Site & Location
Corner Location
Traffic Count
Building Details
Building Size
Year Renovated
Tenancy
Listing Agency:
Legacy Real Estate Advisors
Listed By:
Rami Gulli · License #MI #6501453450
(248) 892-9691
Source:
Legacycrea
Added: Aug 8
Changed: Nov 4
Last Checked: Nov 8 at 3:32AM
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 Legacy Real Estate Advisors
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Investment Insights
Based on property information with market context.
This multi-tenant strip mall contains four fully occupied units and totals 15,627 SF on a 0.33-acre lot. The center was remodeled in 2017, and leases were recently extended. Its placement at a signalized hard corner supports direct visibility from Eureka Rd.
The property receives exposure to more than 32,000 vehicles per day and is surrounded by nationally recognized retailers and restaurants, including Walmart Supercenter, Aldi, T.J. Maxx, Dollar Tree, Chuck E. Cheese, and Olive Garden. Detroit Metropolitan Wayne County Airport is a 16-minute drive, while downtown Detroit is 25 minutes away.
The property receives exposure to more than 32,000 vehicles per day and is surrounded by nationally recognized retailers and restaurants, including Walmart Supercenter, Aldi, T.J. Maxx, Dollar Tree, Chuck E. Cheese, and Olive Garden. Detroit Metropolitan Wayne County Airport is a 16-minute drive, while downtown Detroit is 25 minutes away.
Key Highlights
- 15,627 SF multi‑tenant strip mall on a 0.33‑acre lot
- Four fully occupied retail units
- Remodeled in 2017
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$148,069
Cap Rate
7.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,961,380
$3.0M
Cap Rate 7%
$2,115,271
$2.1M
Cap Rate 9%
$1,645,211
$1.6M
Market Conditions
NOI Build-Up for 15,627 SF
Gross rent
$225.0K $14.40/SF
− Vacancy
−$13.5K −$0.86/SF
EGI
$211.5K $13.54/SF
− OpEx
−$63.5K −$4.06/SF
NOI
$148.1K $9.48/SF
Area
Wayne County, MI
Vacancy
6.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,961,380
Cap Rate 7%
$2,115,271
Cap Rate 9%
$1,645,211
Alternative Uses
Best Use
Retail
$2.12M
$1.85M – $2.47M
NOI $148,069 @ 7.0% cap · market cap 7.59%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.89M
$2.53M – $3.38M
NOI $202,526 @ 7.0% cap · market cap 10.39%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
32,000 VPD
Traffic count
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
434
Businesses Nearby
181k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 40%
Shops & Services 28%
Dining 23%
Groceries 6%
T.J. Maxx
Apparel
43,921 visits/mo
0.3 miles
Dollar Tree
Shops & Services
29,139 visits/mo
0.3 miles
Ross Dress for Less
Apparel
24,233 visits/mo
0.3 miles
Red Robin Gourmet Burgers
Dining
18,797 visits/mo
0.2 miles
Speedway
Shops & Services
15,733 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
Properties on Market for Strip malls in Wayne County
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Strip mall - Four occupied suites comprise a remodeled retail center positioned at a signalized intersection.
Where is this strip mall located?
The property is located at 16134-16146 Eureka Rd Southgate, MI.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 15,627 SF multi‑tenant strip mall on a 0.33‑acre lot; Four fully occupied retail units; Remodeled in 2017
