23351 Eureka Rd Taylor, MI 48180
Property profile & analytics
23351 Eureka Rd Taylor, MI 48180
- Outlet malls
- 42,684 SF
- 4.50 lot acres
Property ID
US43-0298365
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.
Location Intelligence
Current Use by Public Records
- Big Lots / Furniture & Home Goods / Home Decor 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
- Property subtype
- Shopping centers
- 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
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $3,443,000
- AI Estimate
- $3,443,000
Market price range: $3.09M - $7.41MMarket price range: $3.09M - $7.41M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $5,035,000 Current use
- COMMERCIAL (GENERAL)
- $4,690,000 Change: -7% Conversion: Easy
- RESTAURANT
- $4,420,000 Change: -12% Conversion: Easy
- OFFICE BUILDING
- $4,145,000 Change: -18% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
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
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
$0.00
$0.00
$0.00
$1,156,600
-
$0.00
$0.00
$2,313,200
