Freestanding Retail or Office
For Sale
Contact for pricing
19238 Eureka Rd, Southgate, MI 48195
Recently updated freestanding building offers office or retail space at a corner location on heavily trafficked Eureka Road.
Property Size4,000 SF
Price / SF$0.00
Days on Market177
Property Features for 19238 Eureka Rd
General Information
Standard status
Active
Size
4,000 SF
Total Parking Spaces
25
Property subtype
Retail
Zoning
C-2
Building Details
Building Size
4,000 SF
Year Built
1950
Stories
1
Listing Agency:
Signature Associates - Southfield
Listed By:
Justin W. Gaffrey · License #6501317055
(248) 799-3143
Source:
Cpix.resimplifi
Added: Apr 29
Changed: Oct 10
Last Checked: Oct 20 at 5:21PM
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 Signature Associates - Southfield
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Investment Insights
Based on property information with market context.
Recently updated 4,000 sq. ft. freestanding building available for office or retail use. The property presents a flexible interior suitable for multiple commercial concepts within one standalone structure.
Located on a corner and positioned on heavily trafficked Eureka Road, the site benefits from high daily visibility. Adjacent land is also available for expansion, which may help support future growth needs.
The building’s freestanding configuration makes it straightforward for tenant-specific layouts while leveraging the site’s prominent corner exposure.
Located on a corner and positioned on heavily trafficked Eureka Road, the site benefits from high daily visibility. Adjacent land is also available for expansion, which may help support future growth needs.
The building’s freestanding configuration makes it straightforward for tenant-specific layouts while leveraging the site’s prominent corner exposure.
Key Highlights
- Recently updated 4,000 sq. ft. freestanding building for office or retail use
- Corner location on heavily trafficked Eureka Road
- Adjacent land available for expansion
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,770
Suggested Prices Based on Cap Rates
Cap Rate 5%
$275,400
$275.4K
Cap Rate 7%
$196,714
$196.7K
Cap Rate 9%
$153,000
$153.0K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$24.0K $6.00/SF
− Vacancy
−$5.6K −$1.41/SF
EGI
$18.4K $4.59/SF
− OpEx
−$4.6K −$1.15/SF
NOI
$13.8K $3.44/SF
Area
Wayne County, MI
Vacancy
23.50%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$275,400
Cap Rate 7%
$196,714
Cap Rate 9%
$153,000
Alternative Uses
Best Use
Retail
$541.4K
$473.8K – $631.7K
NOI $37,901 @ 7.0% cap · market cap 252,673.33%
Second Best
Office B
$196.7K
$172.1K – $229.5K
NOI $13,770 @ 7.0% cap · market cap 91,800.00%
Theoretical Best
Specialty Retail
$740.6K
$648.0K – $864.0K
NOI $51,840 @ 7.0% cap · market cap 345,600.00%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
457
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - Recently updated freestanding building offers office or retail space at a corner location on heavily trafficked Eureka Road.
Where is this retail space located?
The property is located at 19238 Eureka Rd Southgate, MI.
What are key features of this property?
This property features: Recently updated 4,000 sq. ft. freestanding building for office or retail use; Corner location on heavily trafficked Eureka Road; Adjacent land available for expansion
