Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    27736 Eureka Rd Romulus, MI 48174-2853

    • Turn key restaurants
    • 5,006 SF
    • 2.07 lot acres
    OFF-MARKET
    Last Sale
    Nov 11, 2021
    $290,000
    Value Estimations
    $310,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1575178
    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

    • Turn key restaurants

    Property Details for 27736 Eureka Rd

    Year built
    1933
    Lot size
    2.07 lot acres
    Property size
    5,006 SF
    Zone code
    M1-LIG
    Property type
    Turn key restaurants
    APN
    80 100 99 0015 003
    APU
    80100990015003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $290,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $372,000
      Market price range: $261k - $542k
      AI Estimate
      $372,000
      Market price range: $261k - $542k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $385,000
      Current use
      MEDICAL BUILDING
      $470,000
      Change: +22% Conversion: Difficult
      OFFICE BUILDING
      $440,000
      Change: +14% Conversion: Moderate
      RETAIL STORES
      $410,000
      Change: +7% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $400,000
      Change: +3% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $360,000
      Change: -7% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Romulus
    County
    Wayne
    State
    Michigan
    Longitude
    -83.3104
    Latitude
    42.1968
    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
    $16,242
    $0.00
    $0.00
    $247,100
    -
    $0.00
    $0.00
    $494,200

    Comparable in this City

    • Value Estimation by Request
      1,364 SF

      30881 Ecorse Rd

      RESTAURANT • 1,364 SF
      30881 Ecorse Rd, Romulus, MI 48174-3531
      View Details
    • Value Estimation by Request
      4,992 SF

      30987 Flynn Dr

      RESTAURANT • 4,992 SF
      30987 Flynn Dr, Romulus, MI 48174-2239
      View Details
    • Value Estimation
      $170,000
      6,800 SF

      5845 Merriman Rd

      RESTAURANT • 6,800 SF
      5845 Merriman Rd, Romulus, MI 48174-1933
      View Details
    • Value Estimation
      $185,000
      2,618 SF

      19110 Middlebelt Rd

      RESTAURANT • 2,618 SF
      19110 Middlebelt Rd, Romulus, MI 48174-9403
      View Details
    • Value Estimation by Request
      2,746 SF

      9110 Wayne Rd

      RESTAURANT • 2,746 SF
      9110 Wayne Rd, Romulus, MI 48174-1688
      View Details
    • Value Estimation by Request
      5,557 SF

      8210 Merriman Rd

      RESTAURANT • 5,557 SF
      8210 Merriman Rd, Romulus, MI 48174-1917
      View Details

    Similar Nearby for Sale

    • $2,990,000
      117.74 Acres

      Romulus Land with Golf Course

      117-acre property with golf course, clubhouse, restaurant, and residential lots.
      20820 Inkster Rd, Romulus, MI 48174
      View Details
    • $2,990,000
      5,000 SF

      Romulus Golf Course and Restaurant

      117-acre Romulus property with golf course, clubhouse, and restaurant.
      20820 Inkster Rd, Romulus, MI 48174
      View Details
    • $475,000

      High-Traffic Corner Retail Property

      Retail property with high visibility and easy freeway access.
      6397 Middlebelt Rd, Romulus, MI 48174
      View Details
    • $399,000
      2,604 SF

      Commercial Building in Romulus, MI

      Commercial building with showroom, office, and warehouse space for sale.
      36050 Goddard Rd, Romulus, MI 48174
      View Details
    • Contact for pricing
      0.50 Acres

      Romulus Trade Center Retail Land

      High-traffic retail land near Detroit Metro Airport.
      32870 Wick Rd, Romulus, MI 48174
      View Details
    • $499,995

      Commercial Building on Fenced Acre

      2,400 SF building on 1-acre lot, ideal for various uses.
      19357 Telegraph Rd, Romulus, MI 48174
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      16,000 SF

      Retail Space with Drive-Thru

      Proposed 16,000 SF retail space with drive-thru end-cap.
      39325 Ecorse Rd, Romulus, MI 48174
      View Details
    • Contact for pricing
      13,568 SF

      Eureka Road Retail Center

      Romulus, MI retail space available.
      30739 Eureka Rd, Romulus, MI 48174
      View Details
    • $15 SF/Yr
      917 SF

      Retail Space Near Airport

      Retail space available in busy Romulus shopping center.
      9219-9301 Wayne Rd, Romulus, MI 48174
      View Details
    • Contact for pricing

      Romulus Retail Land Opportunity

      Prime Wayne County retail land for lease.
      32870 Wick Rd, Romulus, MI 48174
      View Details
    • Contact for pricing

      Brownstown Retail/Automotive/Parking Opportunity

      Retail, automotive, or parking lot opportunity in Brownstown.
      20840 Telegraph Rd, Brownstown, MI 48174
      View Details
    • $15 SF/Yr
      8,000 SF

      Prime Brownstown Retail Space

      8,000 SF Freestanding Building - For Lease
      18918 Telegraph Rd, Brownstown Charter Township, MI 48174
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    27736 Eureka Rd
    Romulus, MI 48174-2853
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.