Multi-Use Retail and Office
For Sale
$1,350,000
23944 Eureka Road, Taylor, MI 48180
COMMERCIAL - Taylor, MI
Property Size11,140 SF
Lot Size0.39 Acres
Price / SF$121.18
Days on Market273
Property Features for 23944 Eureka Road
General Information
Property type
Commercial Sale
Property subtype
Retail
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bathroom 3
Elementary school district
Taylor
Middle school district
Taylor
High school district
Taylor
Subdivision
Wayne County - 100
Standard status
Active
APN
60-070-01-0134-300
Size
11,140 SF
Lot size
0.39 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
28B134 TO 139A LOTS 134 TO 139 INCL EXC THE S 25 FT OF LOTS 138 AND 139 ALSO S 1/2 ADJ VAC ALLEY PATERSONS TELREKA SU
Tax Annual Amount
17540
Legal Description
28B134 TO 139A LOTS 134 TO 139 INCL EXC THE S 25 FT OF LOTS 138 AND 139 ALSO S 1/2 ADJ VAC ALLEY PATERSONS TELREKA SU
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Amenities
conference area
restrooms
kitchens
Building Details
Year built
2009
Number of units
21
Building materials
Brick
Listing Agency:
Vantage Realty Group, LLC
(734) 287-6619
Listed By:
Teressa Mann
(734) 991-3482
Added: Nov 17, 2025
Changed: Aug 4
Last Checked: Aug 17 at 4:06AM
MLS# 25058655
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multi-use, two-story building offers a combination of office and retail space designed for flexibility. The first floor includes seven office suites plus a conference area, while the second floor features a large retail area along with three additional suites. Both floors are equipped with restrooms and kitchens. The office spaces and retail areas have recently been updated, and the property is described as available for sale or lease with options for build-to-suit.
The property is located at 23944 Eureka Road in Taylor, MI 48180, and the remarks describe the site as benefiting from visibility on and around Eureka and Telegraph.
With office suites and retail space on separate floors, the layout supports a range of configurations within the existing two-story framework while maintaining the shared convenience of in-suite facilities across both levels.
The property is located at 23944 Eureka Road in Taylor, MI 48180, and the remarks describe the site as benefiting from visibility on and around Eureka and Telegraph.
With office suites and retail space on separate floors, the layout supports a range of configurations within the existing two-story framework while maintaining the shared convenience of in-suite facilities across both levels.
Key Highlights
- Brick office and retail building built in 2009
- Seven office suites plus conference area on the first floor, with large retail space and three suites on the second floor
- Both floors include restrooms and kitchens
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
Retail
$1.51M
$1.32M – $1.76M
NOI $105,554 @ 7.0% cap · market cap 7.82%
Second Best
Office B
$547.8K
$479.4K – $639.2K
NOI $38,349 @ 7.0% cap · market cap 2.84%
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
Lease Details
7
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
599
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
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Frequently Asked Questions
What type of property is this?
Retail space - Two-story building with retail space and multiple office suites, with restrooms and kitchens on both floors.
Where is this retail space 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: Brick office and retail building built in 2009; Seven office suites plus conference area on the first floor, with large retail space and three suites on the second floor; Both floors include restrooms and kitchens
