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    Property profile & analytics

    13545 Eureka Rd Southgate, MI 48195

    • Drug stores
    • 11,038 SF
    • 1.17 lot acres
    For Sale
    View listing
    $1,850,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-2131163
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • CVS Photo / (Bike/Boat/Book/etc) Store
    • CVS Pharmacy / Pharmacy
    • Phantom Fireworks Tent / Discount Store / Party Supply Store
    • MoneyGram / Bank / Credit Union
    • Southgate Shopping Center / Shopping Center & Mall

    Property Details for 13545 Eureka Rd

    Year built
    1999
    Lot size
    1.17 lot acres
    Property size
    11,038 SF
    Zone code
    C-2 GEN BUS
    Property type
    Drug stores
    APN
    53 019 08 0001 000
    APU
    53019080001000

    Description

    This 10,972 square foot former CVS pharmacy and storefront is available for sale or lease in Southgate, Michigan. Located at 13545 Eureka Rd, 48195, this single-tenant building sits on a 0.73-acre lot and was built in 1998. The property boasts a prime location as an outparcel to a thriving shopping center, ranking in the top 98th percentile nationwide for foot traffic. Eureka Road sees over 29,000 vehicles daily, and the surrounding Fort Street/Eureka Road/Dix-Toledo Road corridor sees over 109,000 vehicles daily. The property benefits from a strong demographic profile, with over 205,000 residents within a 5-mile radius and an average household income exceeding $62,400 within 1 mile. The property is currently 100% occupied, although the lease term is 0 years. The asking price is $2,050,000, and the lease type is NNN. The property features a drive-thru and is surrounded by numerous national tenants, including 7-Eleven, Chili's, Taco Bell, Buffalo Wild Wings, Logan's Roadhouse, Little Caesars, and Arby's. No credit rating is available for the tenant. This is a fantastic opportunity for investors or businesses seeking a high-traffic retail location in a densely populated area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,369,000
      Market price range: $387k - $1.37M
      AI Estimate
      $1,369,000
      Market price range: $387k - $1.37M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $840,000
      Current use
      COMMERCIAL (GENERAL)
      $1,210,000
      Change: +44% Conversion: Easy
      RESTAURANT
      $1,145,000
      Change: +36% Conversion: Easy
      OFFICE BUILDING
      $1,070,000
      Change: +28% Conversion: Easy
      MEDICAL BUILDING
      $1,040,000
      Change: +24% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $880,000
      Change: +4% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Southgate
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1901
    Latitude
    42.1972
    CBSA code
    19820
    CBSA name
    DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $38,757
    $0.00
    $0.00
    $539,100
    -
    $0.00
    $0.00
    $1,078,200

    Comparable in this City

    • Value Estimation by Request
      600 SF

      12998 Northline Rd

      DRUG STORE, PHARMACY • 600 SF
      12998 Northline Rd, Southgate, MI 48195-1112
      View Details
    • Value Estimation by Request
      9,800 SF

      18809-18833 Eureka Rd

      Individual retail properties • 9,800 SF
      18809-18833 Eureka Rd, Southgate, MI 48195
      View Details
    • Value Estimation by Request
      1,030 SF

      13546 Northline Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,030 SF
      13546 Northline Rd, Southgate, MI 48195-1080
      View Details
    • Value Estimation by Request
      400 SF

      13557 Northline Rd

      RETAIL STORES (PERSONAL SERVICES) • 400 SF
      13557 Northline Rd, Southgate, MI 48195-1064
      View Details
    • Value Estimation
      $1,660,000
      15,865 SF

      14601 Eureka Rd

      GROCERY, SUPERMARKET • 15,865 SF
      14601 Eureka Rd, Southgate, MI 48195-2032
      View Details
    • Value Estimation by Request
      4,769 SF

      12354 Ft St

      RETAIL STORES (PERSONAL SERVICES) • 4,769 SF
      12354 Ft St, Southgate, MI 48195-1008
      View Details

    Similar Nearby for Sale

    • $499,999
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      Retail Building on Fort Street

      4,000 SF retail building with high visibility and parking.
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    • $700,000

      Eureka Road Commercial Space Available

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    Similar Nearby for Lease

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      Retail Space in Southgate, MI

      Retail space available for lease in Southgate, Michigan.
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      2,500 SF

      Retail Outlot with Drive-Thru

      Retail space with drive-thru capability available for ground lease.
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      3,800 SF retail/office space with high traffic counts.
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    • $1,250 /Mo

      Eureka Road Retail/Office Space

      Retail or office space available for lease on Eureka.
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      View Details
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    13545 Eureka Rd
    Southgate, MI 48195
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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
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