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

    16046 Eureka Rd Southgate, MI 48195-3458

    • Outlet malls
    • 6,480 SF
    • 0.91 lot acres
    OFF-MARKET
    Last Sale
    Aug 30, 2021
    Value Estimations
    $570,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1282355
    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

    • Henderson Glass / Glass Shop / Glass & Mirror Shop
    • Safelite AutoGlass / Glass Repair Service

    Property Details for 16046 Eureka Rd

    Year built
    1987
    Lot size
    0.91 lot acres
    Property size
    6,480 SF
    Zone code
    P-1 PARKING
    Property type
    Outlet malls
    APN
    53 016 99 0039 000
    APU
    53016990039000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $571,000
      Market price range: $227k - $804k
      AI Estimate
      $571,000
      Market price range: $227k - $804k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $495,000
      Current use
      COMMERCIAL (GENERAL)
      $710,000
      Change: +44% Conversion: Easy
      RESTAURANT
      $670,000
      Change: +36% Conversion: Easy
      OFFICE BUILDING
      $630,000
      Change: +28% Conversion: Easy
      MEDICAL BUILDING
      $610,000
      Change: +24% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $515,000
      Change: +4% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $465,000
      Change: -6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Southgate
    County
    Wayne
    State
    Michigan
    Longitude
    -83.2178
    Latitude
    42.1997
    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
    $12,933
    $0.00
    $0.00
    $180,200
    -
    $0.00
    $0.00
    $360,400

    Comparable in this City

    • Value Estimation
      $7,250,000
      182,454 SF

      16705 Ft St

      WHOLESALE OUTLET, DISCOUNT STORE • 182,454 SF
      16705 Ft St, Southgate, MI 48195-1442
      View Details
    • Value Estimation
      $9,990,000
      135,620 SF

      15700 Northline Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 135,620 SF
      15700 Northline Rd, Southgate, MI 48195-2378
      View Details
    • Value Estimation
      $3,090,000
      47,288 SF

      14333 Eureka Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 47,288 SF
      14333 Eureka Rd, Southgate, MI 48195-2064
      View Details
    • Value Estimation
      $3,390,000
      41,188 SF

      14155 Eureka Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 41,188 SF
      14155 Eureka Rd, Southgate, MI 48195-2065
      View Details
    • Value Estimation
      $14,695,000
      187,000 SF

      14900 Dix Toledo Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 187,000 SF
      14900 Dix Toledo Rd, Southgate, MI 48195-2580
      View Details
    • Value Estimation
      $17,180,000
      220,869 SF

      16300 Ft St

      WHOLESALE OUTLET, DISCOUNT STORE • 220,869 SF
      16300 Ft St, Southgate, MI 48195-1421
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Dix-Toledo Shopping Center for Sale

      91% leased community shopping center with national tenant base.
      15200 Dix Toledo Rd, Southgate, MI 48195
      View Details
    • Contact for pricing
      3,800 SF

      Southgate Executive Office Space

      Prime Retail/Office, 3800 SF, I-75 Access
      14328 Northline Rd, Southgate, MI 48195
      View Details
    • $175,000
      1,164 SF

      Turnkey Burger Restaurant Opportunity

      High-traffic burger restaurant with $750K revenue in year one.
      1111 No Name 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
      View Details
    • $499,999
      4,000 SF

      Retail Building on Fort Street

      4,000 SF retail building with high visibility and parking.
      14750 Fort St, Southgate, MI 48195
      View Details
    • 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

    Similar Nearby for Lease

    • $22 SF/Yr
      1,500 SF

      Retail Endcap Space Available

      1,500 SF endcap in Southgate Plaza retail strip mall.
      12954 Dix Toledo Rd, Southgate, MI 48195
      View Details
    • Contact for pricing
      34,019 SF

      Retail Center on Eureka Road

      Retail center in a high-traffic downriver retail corridor.
      14155 Eureka Rd, Southgate, MI 48195
      View Details
    • $6 SF/Yr
      38,000 SF

      Retail Space Near Kroger Marketplace

      Retail space available near a large Kroger Marketplace.
      16705 Fort St, Southgate, MI 48195
      View Details
    • $13 SF/Yr
      24,912 SF

      14605 Northline Rd

      Restaurants • 24,912 SF
      14605 Northline Rd, Southgate, MI 48195
      View Details
    • $187 SF/Yr
      1,000 SF

      Southgate Retail Space: Prime Location

      1,000 sq ft Retail Space - Immediate Occupancy
      13256 Northline Rd, Southgate, MI 48195
      View Details
    • $1,250 /Mo

      Eureka Road Retail/Office Space

      Retail or office space available for lease on Eureka.
      18708 Eureka Rd, Southgate, MI 48195
      View Details
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    Southgate, MI 48195-3458
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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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