20332 Eureka RdTaylor, MI 48180

Property Details for 20332 Eureka Rd

Year built

1994

Lot size

1.68 AC

Property size (Sq ft)

12,000 SF

Zone code

B-2

Property type

Medical offices

Property subtype

Medical space

APN

60 068 02 0049 302

APU

60068020049302

Description

This exceptional investment opportunity presents a 12,556-square-foot, single-story office building located at 20332 Eureka Road in Taylor, Michigan, 48180. The property, built in 1994, is classified as a Class B building and features a desirable multi-tenant occupancy of five businesses, currently operating at 100% capacity. The building boasts a strong net operating income (NOI) of $195,250, yielding a compelling 9% capitalization rate. Priced at $2,170,000 ($139.38 per square foot), this is an owner/user investment opportunity with a NNN lease type. The property is zoned B-2, Regional Business District, and offers convenient access to I-75, placing it in a high-traffic area with approximately 23,765 vehicles passing daily. The building features both front and rear private entrances, ample parking, and a lower level with elevator access. Current tenants include a diverse mix of established businesses, including medical and professional services. The location is strategically situated near Southland Mall, surrounded by residential areas and major retail stores, making it an attractive location for both tenants and investors. The property's strong occupancy, high NOI, and prime location in the thriving Downriver submarket of Southern Wayne County make it a highly desirable investment. Within a five-mile radius, the population exceeds 220,540 residents. This is a rare opportunity to acquire a stable, high-performing commercial property in a sought-after location.

• CAP approach

  CAP return

  Valuation

  6%

  $2,054,255

  6.5%

  $1,896,236

  7%

  $1,760,790

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,122,480

  Geo Method

  $1,122,480

• Alternative Use

  Use

  Valuation

  Residential

  $2,351,332

  Hospitality

  $2,153,808

  Educational

  $1,791,943

  Medical

  $1,853,570

  Retail

  $2,787,466

Location Insight

City

Taylor

County

Wayne

State

Michigan

Latitude

42.1989

Longitude

-83.2327

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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