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    23455 Eureka Rd Taylor, MI 48180

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    Citizens Bank in Taylor, MI with long-term commitment to location.

    Property size:
    4,069 SF
    Lot size:
    0.63 Acres

    Property Features for 23455 Eureka Rd

    General Information

    Standard status
    Active
    Zoning
    Commercial
    Size
    4,069 SF
    Lot size
    0.63 Acres

    Building Details

    Year built
    1995

    We can help!

    Listing Contact
    Ashish Vakhariya
    Source: Crexi

    Listing Agency: Marcus & Millichap - Detroit Listing Agent: Ashish Vakhariya

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Citizens Bank NNN Investment Opportunity

    The property features a Citizens Bank branch situated on a 0.63-acre lot in Taylor, Michigan. It includes ample parking, four drive-thru lanes, and an ATM. The tenant operates under an absolute net lease with two percent annual rental increases throughout the remaining lease term and renewal options. Citizens Bank recently exercised its first five-year renewal option. The branch ranks in the top 15 percent nationally for foot traffic and is the number three location for the state of Michigan. The bank benefits from high visibility and convenient access off Eureka Road (31,438 VPD), near Telegraph/US-24 (56,828 VPD), and Interstate-75 (92,952 VPD). The property is shadow-anchored by major retailers including Dick’s Sporting Goods, PetSmart, Airborne Adventure Park, and Party City. The property is located in a prime retail market with over 3.4 million square feet of retail within a one-mile radius and 14.7 million square feet within a five-mile radius. The area features a variety of national retailers such as Target, Hobby Lobby, Value City Furniture, Burlington, Kohl’s, Bob’s Discount Furniture, Home Depot, BJ’s Wholesale, and Menards, as well as numerous car dealerships and restaurants. This market is further supported by a robust industrial presence, encompassing over 28.3 million square feet within five miles. The City of Taylor is located in Wayne County, Michigan, and is part of the Downriver region of Metropolitan Detroit. Taylor benefits from its strategic location at the intersection of major transportation routes such as I-94 and I-75, as well as US-24 (Telegraph Road). There are over 190,777 residents with an average household income exceeding $84,346 within five miles of this asset. The property size is 4,069 square feet.
    Location Intelligence

    Current Use by Public Records

    Charter Financial Group Financial Advisor Citizens Bank ATM Atm Citizens Bank

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Taylor
    County
    Wayne
    State
    Michigan
    Longitude
    -83.2608085
    Latitude
    42.1972856

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    FAQs

    What type of property is this?
    Bank - Citizens Bank in Taylor, MI with long-term commitment to location.
    Where is this bank located?
    The property is located at 23455 Eureka Rd Taylor, MI.
    What are key features of this property?
    This property features: - Absolute Net Lease with Citizens Bank (S&P: BBB+ / Moody’s: Baa1), providing stable income.; - Strong location with HIGH VISIBILITY and traffic counts.; - Proven branch performance: Ranked in the top 15% nationally and #3 in Michigan for foot traffic.
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    23455 Eureka Rd Taylor, MI 48180
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    Taylor, MI 48180
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    23455 Eureka Rd Taylor, MI 48180
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    Listing Contact
    Ashish Vakhariya
    Real Estate License ID: 6501322501
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