Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    15221 Eureka Rd Southgate, MI 48195-2647

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    15221 Eureka Rd Southgate, MI 48195-2647

    View on Map
    • Commercial real estate
    • 0.93 lot acres
    Off-Market
    Property ID
    US43-0870390
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Billy Walker Evangelistic / Church / Mosque
    • Arkay Service Center / Crisis Center / Medical Clinic
    • Arkay Incorporated / Charitable Organization / Social Service Agency
    • Arkay Crossings / Employment Agency

    Property Details for 15221 Eureka Rd

    Lot size
    0.93 lot acres
    Zone code
    R-1B SINGLE R
    Property type
    Commercial real estate
    APN
    53 021 01 0235 301
    APU
    53021010235301

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Southgate
    County
    Wayne
    State
    Michigan
    Longitude
    -83.2085
    Latitude
    42.1985
    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
    $6
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.02 Acres

      Southgate, MI 48195

      COMMERCIAL (GENERAL) • 0.02 Acres
      Southgate, MI 48195
      View Details
    • Value Estimation by Request
      0.05 Acres

      13460 Ft St

      COMMERCIAL (GENERAL) • 0.05 Acres
      13460 Ft St, Southgate, MI 48195-1138
      View Details
    • Value Estimation by Request
      6.03 Acres

      17201 Northline Rd

      COMMERCIAL (GENERAL) • 6.03 Acres
      17201 Northline Rd, Southgate, MI 48195-2336
      View Details
    • Value Estimation by Request
      0.05 Acres

      13070 Northline Rd

      COMMERCIAL (GENERAL) • 0.05 Acres
      13070 Northline Rd, Southgate, MI 48195-1112
      View Details
    • Value Estimation by Request
      46.00 Acres

      16700 Pennsylvania Rd

      COMMERCIAL (GENERAL) • 46.00 Acres
      16700 Pennsylvania Rd, Southgate, MI 48195-2939
      View Details
    • Value Estimation by Request
      10.66 Acres

      16500 Quarry Rd

      COMMERCIAL (GENERAL) • 10.66 Acres
      16500 Quarry Rd, Southgate, MI 48195-1426
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,800 SF

      Northline Road Commercial Property

      Commercial property located on Northline Road by Dix Toledo Road.
      14328 Northline Rd, Southgate, MI 48195
      View Details
    • $995,000
      6,917 SF

      Freestanding Retail Property in Southgate

      High-traffic location with excellent visibility and accessibility.
      19400 Northline Rd, Southgate, MI 48195
      View Details
    • $5,200,000
      46,660 SF

      Comfort Suites Southgate Investment Opportunity

      Profitable hospitality property in a growing market, Southgate, Michigan.
      18950 Northline Rd, Southgate, MI 48195
      View Details
    • $700,000

      Eureka Road Commercial Space Available

      3,825 SF commercial space with high visibility on Eureka Rd.
      19363 Eureka Rd, Southgate, MI 48195
      View Details
    • $599,000

      Medical Office Building Investment

      Medical office building for sale, generating approximately $4,000 monthly.
      12100 Dix Toledo Rd, Southgate, MI 48195
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Southgate Office Space Available

      Office space available in Southgate, Michigan.
      13235-13245 Northline Rd, Southgate, MI 48195
      View Details
    • Contact for pricing

      Retail Outlot with Drive-Thru

      Retail space with drive-thru, ideal for restaurant or service.
      14441 Eureka Rd, Southgate, MI 48195
      View Details
    • Contact for pricing

      Established Shopping Center Retail Space

      Retail space available in established shopping center with national tenants.
      & Dix-Toledo Swc Eureka Rd, Southgate, MI 48195
      View Details
    • Contact for pricing

      Retail/Restaurant Space For Lease

      Retail and restaurant spaces available for lease.
      14980 Dix Toledo Rd, Southgate, MI 48195
      View Details
    • Contact for pricing

      Single Tenant Office Space

      Office space available for single tenant occupancy.
      13667 Eureka Rd, Southgate, MI 48195
      View Details
    • Contact for pricing

      Retail/Medical Space on Northline Road

      High-traffic location suitable for retail or medical use.
      12967 Northline Rd, Southgate, MI 48195
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    15221 Eureka Rd
    Southgate, MI 48195-2647
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!