Medical Office with Exam
For Sale
$645,000
24825 Eureka Road, Taylor, MI 48180
Commercial Sale, Taylor, MI
Property Size2,684 SF
Lot Size0.31 Acres
Price / SF$240.31
Days on Market93
Property Features for 24825 Eureka Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
B-3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Basement, Bathroom 3
Elementary school district
Taylor
Middle school district
Taylor
High school district
Taylor
Standard status
Active
APN
60-085-02-0011-000
Size
2,684 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
32B11 TO 15 LOTS 11 TO 15 INCL ALSO N 1/2 ADJ VAC ALLEY PATERSONS HOME TRACTS SUB T3S R10E L52 P11 WCR
Tax Annual Amount
9155
Legal Description
32B11 TO 15 LOTS 11 TO 15 INCL ALSO N 1/2 ADJ VAC ALLEY PATERSONS HOME TRACTS SUB T3S R10E L52 P11 WCR
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1979
Floors in Building
2
Number of units
2
Building materials
Brick
Listing Agency:
Vantage Realty Group, LLC
(734) 287-6619
Listed By:
Teressa Mann
(734) 991-3482
Added: Jun 4
Changed: Aug 26
Last Checked: Sep 4 at 7:06AM
MLS# 26027126
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 2,684-square-foot medical office property includes a main-level executive office with a fireplace and private restroom, along with multiple private office and exam areas. Exam rooms include sinks and storage. The lower level adds three private office or exam rooms, another restroom, and a separate entrance that supports distinct practitioner or service areas. The building was constructed in 1979 with brick exterior construction, forced-air heating, central air, two separate furnaces, and two independent alarm systems.
Additional property features include a sump pump, warrantied foundation work, cable availability, and a 0.31-acre lot. The property is located at 24825 Eureka Road in Taylor, with access to I-75, I-94, and I-275.
Additional property features include a sump pump, warrantied foundation work, cable availability, and a 0.31-acre lot. The property is located at 24825 Eureka Road in Taylor, with access to I-75, I-94, and I-275.
Key Highlights
- 2,684 SF medical office property on a 0.31‑acre lot
- Main‑level executive office with fireplace and private restroom
- Exam rooms equipped with sinks and storage
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
$28,264
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
4.38%
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%
$565,280
$565.3K
Cap Rate 7%
$403,771
$403.8K
Cap Rate 9%
$314,044
$314.0K
Market Conditions
NOI Build-Up for 2,684 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
$53.8K $20.04/SF
− Vacancy
−$6.7K −$2.49/SF
EGI
$47.1K $17.55/SF
− OpEx
−$18.8K −$7.02/SF
NOI
$28.3K $10.53/SF
Area
Wayne County, MI
Vacancy
12.42%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
40.00%
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%
$565,280
Cap Rate 7%
$403,771
Cap Rate 9%
$314,044
Alternative Uses
Best Use
Healthcare Medical
$403.8K
$353.3K – $471.1K
NOI $28,264 @ 7.0% cap · market cap 4.38%
Second Best
Office B
$132.0K
$115.5K – $154.0K
NOI $9,240 @ 7.0% cap · market cap 1.43%
Theoretical Best
Specialty Retail
$496.9K
$434.8K – $579.8K
NOI $34,785 @ 7.0% cap · market cap 5.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
197
Businesses Nearby
Under-served
Demand for This Use
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?
Medical Office Space - Flexible healthcare-oriented layout with private offices, exam rooms, separate entrances, and dedicated restrooms.
Where is this medical office space located?
The property is located at 24825 Eureka Road Taylor, MI.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: 2,684 SF medical office property on a 0.31‑acre lot; Main‑level executive office with fireplace and private restroom; Exam rooms equipped with sinks and storage
