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

    15950 Eureka Rd Southgate, MI 48195-2625

    • Turn key restaurants
    • 6,678 SF
    • 0.77 lot acres
    OFF-MARKET
    Value Estimations
    $695,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1728321
    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

    • Mexican Gardens Restaurant / Restaurant

    Property Details for 15950 Eureka Rd

    Year built
    1973
    Lot size
    0.77 lot acres
    Property size
    6,678 SF
    Zone code
    C-2 GEN BUS
    Property type
    Turn key restaurants
    APN
    53 016 99 0045 000
    APU
    53016990045000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $692,000
      Market price range: $419k - $1.10M
      AI Estimate
      $692,000
      Market price range: $419k - $1.10M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $690,000
      Current use
      COMMERCIAL (GENERAL)
      $735,000
      Change: +6% Conversion: Easy
      OFFICE BUILDING
      $650,000
      Change: -6% Conversion: Moderate
      MEDICAL BUILDING
      $630,000
      Change: -9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Southgate
    County
    Wayne
    State
    Michigan
    Longitude
    -83.2171
    Latitude
    42.1992
    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
    $23,552
    $0.00
    $0.00
    $356,500
    -
    $0.00
    $0.00
    $713,000

    Comparable in this City

    • Value Estimation
      $7,645,000
      99,733 SF

      13305 Eureka Rd

      RESTAURANT • 99,733 SF
      13305 Eureka Rd, Southgate, MI 48195-1309
      View Details
    • Value Estimation by Request
      2,280 SF

      12118 Ft St

      RESTAURANT • 2,280 SF
      12118 Ft St, Southgate, MI 48195-1006
      View Details
    • Value Estimation by Request
      2,352 SF

      15612 Ft St

      RESTAURANT • 2,352 SF
      15612 Ft St, Southgate, MI 48195-1306
      View Details
    • Value Estimation
      $1,105,000
      6,705 SF

      15231 Trenton Rd

      RESTAURANT • 6,705 SF
      15231 Trenton Rd, Southgate, MI 48195-3167
      View Details
    • Value Estimation
      $1,505,000
      9,122 SF

      15355 Eureka Rd

      RESTAURANT • 9,122 SF
      15355 Eureka Rd, Southgate, MI 48195-2648
      View Details
    • Value Estimation
      $1,485,000
      9,020 SF

      13999 Eureka Rd

      RESTAURANT • 9,020 SF
      13999 Eureka Rd, Southgate, MI 48195-2059
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8,778 SF

      Dix Toledo Rd Restaurant - Southgate, MI

      Prime Southgate Restaurant, 8,778 SF, 111 Parking Spaces
      14980 Dix Toledo Rd, Southgate, MI 48195
      View Details
    • $99,900
      1,644 SF

      Southgate Property with Business Potential

      Residential property in Southgate, MI, with potential for business conversion.
      15602 Northline Rd, Southgate, MI 48195
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      3,800 SF

      Southgate Executive Office Space

      Prime Retail/Office, 3800 SF, I-75 Access
      14328 Northline Rd, Southgate, MI 48195
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      Dix-Toledo Shopping Center for Sale

      91% leased community shopping center with national tenant base.
      15200 Dix Toledo Rd, Southgate, MI 48195
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      Southgate Retail Portfolio Opportunity

      Value-add six-unit retail portfolio in Southgate, Michigan.
      14048 Eureka Rd, Southgate, MI 48195
      View Details
    • $199,900

      Turn-Key Commercial Property on Eureka

      Commercial property on high-traffic Eureka Road, Southgate, Michigan.
      13117 Eureka Rd, Southgate, MI 48195
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    Similar Nearby for Lease

    • $13 SF/Yr
      24,912 SF

      14605 Northline Rd

      Restaurants • 24,912 SF
      14605 Northline Rd, Southgate, MI 48195
      View Details
    • Contact for pricing
      2,500 SF

      Retail Outlot with Drive-Thru

      Retail space with drive-thru capability available for ground lease.
      14437 Eureka Rd, Southgate, MI 48195
      View Details
    • Contact for pricing
      8,778 SF

      Southgate Retail Space - Dix Toledo Rd

      High-visibility retail space, ample parking.
      14980 Dix Toledo Rd, Southgate, MI 48195
      View Details
    • Contact for pricing
      2,300 SF

      Retail or Office Space Available

      Retail or office spaces available at Allen and Goddard Roads.
      11055 Allen Rd, Southgate, MI 48195
      View Details
    • $14,000 /Mo

      High-Traffic Retail/Showroom Opportunity

      Spacious 24,000 SF building in high-traffic location.
      16153 Eureka Rd, Southgate, MI 48195
      View Details
    • Contact for pricing

      Southgate Commercial Property for Rent

      Commercial property available for rent in Southgate, Michigan.
      1 Heritage Pl, Southgate, MI 48195
      View Details
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    15950 Eureka Rd
    Southgate, MI 48195-2625
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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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