Medical Office Building with
For Sale
$199,000
20927 Kelly Road, Eastpointe, MI 48021
COM/IND/BUS OPP, Eastpointe, MI
Property Size4,197 SF
Lot Size0.14 Acres
Price / SF$47.41
Days on Market307
Property Features for 20927 Kelly Road
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Subdivision
Oben-Bar-Laing Ridgnt Park
Lot features
Main Street
Standard status
Active
APN
02-14-32-356-039
Size
4,197 SF
Lot size
0.14 Acres
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1964
Roof type
Flat
Listing Agency:
Pilot Property Group - Residential LLC
(586) 254-0900
Listed By:
Alexander Termini
(586) 291-0499
Added: Dec 16, 2025
Changed: Oct 8
Last Checked: Oct 19 at 6:06PM
MLS# 50196193
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 4,197-square-foot medical office property was built in 1964 and includes a full finished basement equipped with an elevator; the basement area is excluded from the stated building size. The building has a flat roof, forced-air heating, and public water service. Interior improvements are needed, providing a defined renovation scope for a future user or owner.
An adjacent parking lot serves the property. Zoning permits office, retail, and personal service uses, offering flexibility beyond the prior medical-office configuration. The site encompasses 0.14 acres and is located in Eastpointe, Michigan.
An adjacent parking lot serves the property. Zoning permits office, retail, and personal service uses, offering flexibility beyond the prior medical-office configuration. The site encompasses 0.14 acres and is located in Eastpointe, Michigan.
Key Highlights
- 4,197‑square‑foot medical office building on a 0.14‑acre site
- Full finished basement with elevator; basement is excluded from stated square footage
- Adjacent parking lot included with the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,448
Cap Rate
7.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$288,960
$289.0K
Cap Rate 7%
$206,400
$206.4K
Cap Rate 9%
$160,533
$160.5K
Market Conditions
NOI Build-Up for 4,197 SF
Gross rent
$25.2K $6.00/SF
− Vacancy
−$5.9K −$1.41/SF
EGI
$19.3K $4.59/SF
− OpEx
−$4.8K −$1.15/SF
NOI
$14.4K $3.44/SF
Area
Macomb County, MI
Vacancy
23.50%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$288,960
Cap Rate 7%
$206,400
Cap Rate 9%
$160,533
Alternative Uses
Best Use
Healthcare Medical
$628.6K
$550.0K – $733.4K
NOI $44,002 @ 7.0% cap · market cap 22.11%
Second Best
Office B
$206.4K
$180.6K – $240.8K
NOI $14,448 @ 7.0% cap · market cap 7.26%
Theoretical Best
Specialty Retail
$785.7K
$687.5K – $916.7K
NOI $55,002 @ 7.0% cap · market cap 27.64%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
749
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48021, MI
34,244
Population
14,124
Households
2.4
Avg Household Size
37
Median Age
15%
College-Educated
89%
High-School Grad
5.1 sq mi
ZIP Area
6,715
Density / Sq Mi
$58,196
Median Household Income
$35,836
Median Earnings
$1,335
Median Rent
$129,100
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Similar Off Market Nearby
- APAWS Veterinary Hospital — 21300 Kelly Rd, Eastpointe, MI 48021
Frequently Asked Questions
What type of property is this?
Medical Office Space - Existing medical office property with elevator access, on-site parking, and zoning supporting office, retail, and personal service uses.
Where is this medical office space located?
The property is located at 20927 Kelly Road Eastpointe, MI.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: 4,197‑square‑foot medical office building on a 0.14‑acre site; Full finished basement with elevator; basement is excluded from stated square footage; Adjacent parking lot included with the property
