375 Eureka Rd Wyandotte, MI 48192-5839

Property Details for 375 Eureka Rd

Year built

1997

Lot size

0.32 lot acres

Property size

4,947 SF

Property type

Commercial real estate

APN

57 020 02 0001 300

APU

57020020001300

Description

This exceptional investment opportunity presents a 5,200 square foot, single-story medical building located at 375 Eureka Rd, Wyandotte, MI 48192. The property boasts a strong tenant mix, featuring Wyandotte Pharmacy and Pure Psychiatry of Michigan, both service-based medical tenants in a multi-tenant building. Built in 2016 and renovated in 2021, the building includes a recently re-sealed roof and a resurfaced parking lot. The 0.27-acre lot is situated at a signalized intersection across from the local high school, benefiting from high traffic counts exceeding 20,000 vehicles daily on Eureka Rd. Its prime location offers convenient access to various restaurants, community venues, and multiple medical establishments, including Henry Ford Hospital. The property features a Net Net + lease structure with annual rent increases built into the lease terms for both tenants. The asking price is $875,000, representing a compelling 7.87% capitalization rate and a Net Operating Income (NOI) of $68,824. The current price per square foot is $168.27. This fee-simple ownership opportunity provides a stable and attractive return on investment with below-market rents currently in place. The property consists of two units, offering a diversified tenant base.