Skip to main content

Shopping Strip

Eureka Strip Center

16134 - 16146 Eureka Rd, Southgate, MI 48195

Listing Price: $1,300,000

Cap Rate
8.11%
Gross SF
14,146
Rentable SF
14,146
Price/Gross SF
$91.90
Lot Size
1.02 acres
Year Built
1963

Investment Overview

Marcus & Millichap is pleased to offer the Southgate Strip Center located on Eureka Road in Southgate, MI. This retail shopping strip is 14,300 square feet and was recently renovated. The center is currently 90% occupied with a mix of local and national tenancy. Southgate is about 15 miles south of Detroit in Wayne County, the most populous county in Michigan. The area is densely populated with 230,000 people and an average household income near $70,000 within a five-mile radius. The property has direct frontage along Eureka Road along with multiple points of access and a vehicle count of over 39,000 vehicles per day. The Southgate Strip Center is across the street from ALDI, ABC Warehouse, TJ-Maxx, Office Max and Dollar Tree and within immediate vicinity of the I-75 Expressway. Additionally, the center is situated in a core retail market with over 16.7 million square feet of retail within five miles. The Southgate Strip Center is less than two miles away from Southland Center Mall (1M SF) and national retail such as BJs Wholesale, Bed Bath & Beyond, Hobby Lobby, Menards, Dicks Sporting Goods, Burlington, Big Lots, among many others. The current occupancy of 90% coupled with below market rents, provides an investor the opportunity to acquire a recently renovated multi-tenant retail shopping strip with upside potential.

Investment Highlights

  • Upside Potential by Converting Leases to NNN & Lease-up of Vacant Space
  • 20 Minutes From Downtown Detroit, MI Nearly 4,300,000 in Total MSA
  • Cash-on-Cash Return of 10.44%
  • Population Within 5-Mile Radius is 230,000 & Over 39,000 Vehicles Per Day on Eureka

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s) MI: 6502387903

    Michigan

Listing Price: $1,300,000

Cap Rate
8.11%
Gross SF
14,146
Rentable SF
14,146
Price/Gross SF
$91.90
Lot Size
1.02 acres
Year Built
1963

Investment Highlights

  • Upside Potential by Converting Leases to NNN & Lease-up of Vacant Space
  • 20 Minutes From Downtown Detroit, MI Nearly 4,300,000 in Total MSA
  • Cash-on-Cash Return of 10.44%
  • Population Within 5-Mile Radius is 230,000 & Over 39,000 Vehicles Per Day on Eureka

Investment Overview

Marcus & Millichap is pleased to offer the Southgate Strip Center located on Eureka Road in Southgate, MI. This retail shopping strip is 14,300 square feet and was recently renovated. The center is currently 90% occupied with a mix of local and national tenancy. Southgate is about 15 miles south of Detroit in Wayne County, the most populous county in Michigan. The area is densely populated with 230,000 people and an average household income near $70,000 within a five-mile radius. The property has direct frontage along Eureka Road along with multiple points of access and a vehicle count of over 39,000 vehicles per day. The Southgate Strip Center is across the street from ALDI, ABC Warehouse, TJ-Maxx, Office Max and Dollar Tree and within immediate vicinity of the I-75 Expressway. Additionally, the center is situated in a core retail market with over 16.7 million square feet of retail within five miles. The Southgate Strip Center is less than two miles away from Southland Center Mall (1M SF) and national retail such as BJs Wholesale, Bed Bath & Beyond, Hobby Lobby, Menards, Dicks Sporting Goods, Burlington, Big Lots, among many others. The current occupancy of 90% coupled with below market rents, provides an investor the opportunity to acquire a recently renovated multi-tenant retail shopping strip with upside potential.

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s): MI: 6502387903

    Michigan

MM Texture Background
MM Textured Background Lower