Retail Building on Eureka
For Sale
Contact for pricing
1806 Eureka Rd, Wyandotte, MI 48192
Retail building with high visibility and accessibility on Eureka Rd.
Property Size1,230 SF
Lot Size0.15 Acres
Price / SF$138.21
Days on Market159
Property Features for 1806 Eureka Rd
General Information
Standard status
Active
Size
1,230 SF
Lot size
0.15 Acres
Property subtype
Retail, Office
Zoning
B-2 General Business
Investment Type
Owner/User
Building Details
Year Built
1937
Buildings
1
Stories
1
Units
1
Listing Agency:
Insite Commercial
Listed By:
Randy Thomas · License #MI 6502106098
Source:
Crexi
Added: Mar 6
Changed: Aug 7
Last Checked: Aug 11 at 12:12PM
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 Insite Commercial
Investment Insights
Based on property information with market context.
This retail building offers main road frontage on Eureka Road, providing great visibility and accessibility near Downtown Wyandotte. The location allows for convenient access and offers excellent signage opportunities. The property includes a 0.15-acre double lot. The building size is 1230 square feet.
Key Highlights
- Main road frontage on Eureka Rd provides great visibility and accessibility.
- Location near Downtown Wyandotte offers convenient access.
- Excellent signage opportunity.
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
$11,654
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
6.86%
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%
$233,080
$233.1K
Cap Rate 7%
$166,486
$166.5K
Cap Rate 9%
$129,489
$129.5K
Market Conditions
NOI Build-Up for 1,230 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
$17.7K $14.40/SF
− Vacancy
−$1.1K −$0.86/SF
EGI
$16.6K $13.54/SF
− OpEx
−$5.0K −$4.06/SF
NOI
$11.7K $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 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%
$233,080
Cap Rate 7%
$166,486
Cap Rate 9%
$129,489
Alternative Uses
Best Use
Retail
$166.5K
$145.7K – $194.2K
NOI $11,654 @ 7.0% cap · market cap 6.86%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$227.7K
$199.3K – $265.7K
NOI $15,941 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
655
Businesses Nearby
79k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 38%
Groceries 30%
Dining 24%
Electronics 7%
Aldi
Groceries
23,867 visits/mo
0.4 miles
Citgo
Shops & Services
12,883 visits/mo
0.5 miles
KFC
Dining
6,562 visits/mo
0.4 miles
BIGGBY COFFEE
Dining
5,180 visits/mo
0.5 miles
Citgo
Shops & Services
5,000 visits/mo
0.4 miles
Demographics for 48192, MI
25,058
Population
11,441
Households
2.2
Avg Household Size
42
Median Age
21%
College-Educated
91%
High-School Grad
5.3 sq mi
ZIP Area
4,728
Density / Sq Mi
$67,846
Median Household Income
$42,999
Median Earnings
$995
Median Rent
$159,700
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?
Retail space - Retail building with high visibility and accessibility on Eureka Rd.
Where is this retail space located?
The property is located at 1806 Eureka Rd Wyandotte, MI.
What is the asking price?
The asking price for this property is $169,999.
What are key features of this property?
This property features: Main road frontage on Eureka Rd provides great visibility and accessibility.; Location near Downtown Wyandotte offers convenient access.; Excellent signage opportunity.
