1627 Eureka RdWyandotte, MI 48192

Property Details for 1627 Eureka Rd

Year built

1953

Lot size

0.14 AC

Property size (Sq ft)

4,760 SF

Property type

Retail space

APN

57 018 01 0331 000

APU

57018010331000

Description

This exceptional Wyandotte, MI property, located at 1627 Eureka Road, offers 4,760 square feet on a 0.1-acre lot. Ideal for retail or service businesses, it boasts a spacious storefront with a large window and a substantial retail area featuring high ceilings. A workshop area with an overhead door adds to its versatility. This building is part of a two-building package (sold together) with the adjacent property at 1601 Eureka Road, connected by a modifiable block masonry wall. The combined properties offer ample parking with 15 spaces. While sold as a package, each building can be leased separately, possessing independent utilities and parking. The heating/cooling system in the retail/office section was upgraded in 2021. The adjacent building (1601 Eureka) offers a large open area, two overhead doors, high ceilings, a floor drain, a separate office, and a former paint room, along with energy-efficient infrared heating. Negotiable extras include shelving and hoists. This property presents a significant opportunity for business expansion or a new venture, benefiting from its prime location just beyond the 17th street light on Eureka Road, en route to downtown Wyandotte. The asking price for this combined property is $650,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,258,796

  6.5%

  $1,161,965

  7%

  $1,078,968

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,122,031

  Geo Method

  $1,122,031

• Alternative Use

  Use

  Valuation

  Residential

  $980,161

  Hospitality

  $897,822

  Educational

  $746,978

  Medical

  $772,667

  Retail

  $1,161,965

Location Insight

City

Wyandotte

County

Wayne

State

Michigan

Latitude

42.1994

Longitude

-83.1722

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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