Remodeled Four-Unit Strip
For Sale
Contact for pricing
16134 Eureka Rd, Southgate, MI 48195
Fully occupied retail center positioned at a signalized intersection amid established national retailers.
Property Size14,072 SF
Lot Size0.33 Acres
Price / SF$138.57
Days on Market50
Property Features for 16134 Eureka Rd
General Information
Standard status
Active
Size
14,072 SF
Lot size
0.33 Acres
Property subtype
RETAIL
Occupancy
100%
Site & Location
Corner Location
Yes
Traffic Count
32,000 vehicles/day
Building Details
Year Renovated
2017
Tenancy
Multi
Listing Agency:
Legacy Real Estate Advisors
(248) 450-3257
Listed By:
Rami Gulli · License ###6501453450
(248) 892-9691
Source:
Moodyscre
Added: Aug 18
Changed: Sep 10
Last Checked: Oct 5 at 9:21PM
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 Legacy Real Estate Advisors
Investment Insights
Based on property information with market context.
This multi-tenant strip center contains four occupied units and received remodeling work in 2017. The property sits on a 0.33-acre lot at a signalized hard corner, providing a clearly defined retail setting for the existing tenancy.
Eureka Rd carries more than 32,000 vehicles past the site daily. Surrounding retail includes Walmart Supercenter, Aldi, T.J. Maxx, Dollar Tree, Chuck E. Cheese, and Olive Garden. Detroit Metropolitan Wayne County Airport is approximately 16 minutes away, while downtown Detroit is approximately 25 minutes from the property.
Eureka Rd carries more than 32,000 vehicles past the site daily. Surrounding retail includes Walmart Supercenter, Aldi, T.J. Maxx, Dollar Tree, Chuck E. Cheese, and Olive Garden. Detroit Metropolitan Wayne County Airport is approximately 16 minutes away, while downtown Detroit is approximately 25 minutes from the property.
Key Highlights
- Four‑unit multi‑tenant strip center with all units fully occupied
- Remodeled in 2017
- 0.33‑acre lot at a signalized hard corner
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$133,335
Cap Rate
6.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,666,700
$2.7M
Cap Rate 7%
$1,904,786
$1.9M
Cap Rate 9%
$1,481,500
$1.5M
Market Conditions
NOI Build-Up for 14,072 SF
Gross rent
$202.6K $14.40/SF
− Vacancy
−$12.2K −$0.86/SF
EGI
$190.5K $13.54/SF
− OpEx
−$57.1K −$4.06/SF
NOI
$133.3K $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%
$2,666,700
Cap Rate 7%
$1,904,786
Cap Rate 9%
$1,481,500
Alternative Uses
Best Use
Retail
$1.90M
$1.67M – $2.22M
NOI $133,335 @ 7.0% cap · market cap 6.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.61M
$2.28M – $3.04M
NOI $182,373 @ 7.0% cap · market cap 9.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
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
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Frequently Asked Questions
What type of property is this?
Strip mall - Fully occupied retail center positioned at a signalized intersection amid established national retailers.
Where is this strip mall located?
The property is located at 16134 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: Four‑unit multi‑tenant strip center with all units fully occupied; Remodeled in 2017; 0.33‑acre lot at a signalized hard corner
