Mixed-Use Building with Retail
New
For Sale
$1,350,000
23944 Eureka Road, Taylor, MI 48180
Two-story commercial property combining office suites, conference space, retail area, kitchens, and restrooms on both floors.
Property Size11,140 SF
Days on Market5
Property Features for 23944 Eureka Road
General Information
Standard status
Active
Size
11,140 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$17,540
Building Details
Building Size
11,140 SF
Year Built
2009
Buildings
2
Stories
11140
Units
21
Listing Agency:
Vantage Realty Group, LLC
(734) 991-3482
Listed By:
Teressa Mann
(734) 991-3482
Source:
Thebrokeragehouse
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 28 at 11:30AM
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 Vantage Realty Group, LLC
Investment Insights
Based on property information with market context.
This mixed-use commercial property at 23944 Eureka Rd in Taylor, Michigan, contains 11,140 square feet across two floors. The first floor includes seven office suites, a conference area, and retail space. Three additional suites are located on the second floor alongside a larger retail area.
Kitchens and restrooms serve both levels, supporting the property’s combined office and retail configuration. Constructed in 2009, the building offers a multi-suite layout with distinct areas for administrative, conference, and customer-facing functions.
Kitchens and restrooms serve both levels, supporting the property’s combined office and retail configuration. Constructed in 2009, the building offers a multi-suite layout with distinct areas for administrative, conference, and customer-facing functions.
Key Highlights
- 11,140‑square‑foot mixed‑use commercial property
- Seven first‑floor office suites with conference area
- Large retail area plus three additional second‑floor suites
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
$105,554
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
7.82%
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%
$2,111,080
$2.1M
Cap Rate 7%
$1,507,914
$1.5M
Cap Rate 9%
$1,172,822
$1.2M
Market Conditions
NOI Build-Up for 11,140 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
$160.4K $14.40/SF
− Vacancy
−$9.6K −$0.86/SF
EGI
$150.8K $13.54/SF
− OpEx
−$45.2K −$4.06/SF
NOI
$105.6K $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%
$2,111,080
Cap Rate 7%
$1,507,914
Cap Rate 9%
$1,172,822
Alternative Uses
Best Use
Mixed Use
$1.89M
$1.65M – $2.21M
NOI $132,343 @ 7.0% cap · market cap 9.80%
Second Best
Retail
$1.51M
$1.32M – $1.76M
NOI $105,554 @ 7.0% cap · market cap 7.82%
Theoretical Best
Specialty Retail
$2.06M
$1.80M – $2.41M
NOI $144,374 @ 7.0% cap · market cap 10.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
346
Businesses Nearby
Explore this area
Business Placement
Demographics for 48180, MI
63,409
Population
26,741
Households
2.4
Avg Household Size
39
Median Age
16%
College-Educated
87%
High-School Grad
23.6 sq mi
ZIP Area
2,687
Density / Sq Mi
$59,537
Median Household Income
$40,090
Median Earnings
$1,036
Median Rent
$141,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story commercial property combining office suites, conference space, retail area, kitchens, and restrooms on both floors.
Where is this mixed-use property located?
The property is located at 23944 Eureka Road Taylor, MI.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 11,140‑square‑foot mixed‑use commercial property; Seven first‑floor office suites with conference area; Large retail area plus three additional second‑floor suites
