23351 Eureka Rd Taylor, MI 48180
- Outlet malls
- 42,684 SF
- 4.50 lot acres
Current Use by Public Records
- Big Lots / Furniture Store / Discount Store
Property Details for 23351 Eureka Rd
- Year built
- 1995
- Lot size
- 4.50 lot acres
- Property size
- 42,684 SF
- Zone code
- B-2
- Property type
- Outlet malls
- APN
- 60 090 01 0561 313
- APU
- 60090010561313
Description
This exceptional investment opportunity presents a fee-simple, 42,467 square foot Big Lots convenience store and grocery store in Taylor, Michigan (48180). Located at 23351 Eureka Rd on a 196,180 square foot lot, this property boasts a 20-year absolute NNN lease with a corporate guarantee from Big Lots, Inc. (NYSE: BIG). The lease features a 100% occupancy rate and a 2% annual rent increase, ensuring consistent income growth. The current net operating income (NOI) stands at $279,100, yielding a 6.25% cap rate at an asking price of $4,465,601 ($105.15/sq ft). The property is offered as a 1031 exchange opportunity and is free and clear of financing. Situated in a high-traffic area with strong demographics (average household income exceeding $86,100 within three miles and $93,000 within five miles), this asset offers significant long-term value. The large lot size presents potential for future redevelopment or pad development, adding further value-add potential. This is a rare opportunity to acquire a well-located, high-performing retail property with a strong tenant and a secure lease structure.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Taylor
- County
- Wayne
- State
- Michigan
- Longitude
- -83.2606
- Latitude
- 42.195
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
