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    1806 Eureka Rd Wyandotte, MI 48192
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    1806 Eureka Rd, Wyandotte, MI 48192

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    • Retail space
    • 1,410 SF
    • 0.15 lot acres
    For Sale
    $220,000
    View Listing →
    Retail Building on Eureka Road For Sale
    $220,000
    1,230 SF

    Retail Building on Eureka Road

    Retail building with high visibility and accessibility on Eureka Rd.

    1806 Eureka Rd, Wyandotte, MI 48192
    View Listing
    Property ID
    US43-1537614
    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

    • Retail space

    Property Details for 1806 Eureka Rd

    Lot size
    0.15 lot acres
    Property type
    Retail space
    APN
    57 017 13 0010 000
    APU
    57017130010000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 27, 2019 — Royal Movers INC Miller,terry Quit Claim Deed · related —
    Feb 4, 2013 — Royal Movers Ents LLC Miller,terry L & Karen J Quit Claim Deed · related —
    Feb 24, 2011 — Terry Miller Walt LLC Grant Deed —
    Jan 26, 2011 — Walt LLC Hunt,gregory W & Charlotte I Quit Claim Deed · related —

    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
    Wyandotte
    County
    Wayne
    State
    Michigan
    Longitude
    -83.174
    Latitude
    42.1999
    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
    $3,252
    $0.00
    $0.00
    $54,200
    -
    $0.00
    $0.00
    $108,400

    Comparable in this City

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      2827 2nd St

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      1514 Frd Ave

      RETAIL STORES (PERSONAL SERVICES)
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    • Value Estimation
      $615,000
      7,668 SF

      2959 Biddle Ave

      RETAIL STORES (PERSONAL SERVICES)
      2959 Biddle Ave, Wyandotte, MI 48192-5213
      View Details

    Similar Nearby for Sale

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      5,469 SF

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      5,469 SF retail space available for sale.
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      1,230 SF

      Retail Building on Eureka Road

      Retail building with high visibility and accessibility on Eureka Rd.
      1806 Eureka Rd, Wyandotte, MI 48192
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    • Contact for pricing
      3,300 SF

      3,300 SF Retail/Office/Flex Space

      Retail/office/flex space with overhead door in Wyandotte, MI.
      1918 Ford Ave, Wyandotte, MI 48192
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    • $650,000
      6,465 SF

      Versatile Commercial Property in Wyandotte

      6,000+ sq ft commercial space ready for immediate use.
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    • $350,000

      Commercial Lot with Business Exposure

      Commercial property with frontage, flexible space, and convenient access.
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    • $1,500,000

      Renovated Freestanding Retail/Restaurant Building

      2,998 SF renovated restaurant/retail building with outdoor café and parking.
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    Similar Nearby for Lease

    • $2,000 /Mo
      3,368 SF

      Wyandotte Retail Space for Rent

      Retail property in Wyandotte, MI, with 3368 square feet.
      2909 Biddle Ave, Wyandotte, MI 48192
      View Details
    • Contact for pricing
      5,000 SF

      Retail Space in Downtown Wyandotte

      Retail space in downtown Wyandotte with high visibility.
      340 Eureka Rd, Wyandotte, MI 48192
      View Details
    • $1,600 /Mo
      1,500 SF

      Wyandotte Commercial Space For Lease

      Prime commercial space with excellent visibility and signage opportunities.
      884 Ford Ave, Wyandotte, MI 48192
      View Details
    • $15 SF/Yr

      Freestanding Restaurant with Outdoor Café

      Renovated freestanding building with an outdoor café and open layout, designed for restaurant and retail concepts.
      3807 Fort St, Wyandotte, MI 48192
      View Details

    Property Visit Statistics

    • Visits by month
      452
    • Visitors by month
      400
    • Avg Time on site
      21 min
    View Listing
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    Wyandotte, MI 48192
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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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    1806 Eureka Rd, Wyandotte, MI, 48192
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