Freestanding Retail/Office
24831 John R Rd Hazel Park, MI 48030
24831 John R Rd, Hazel Park, MI, 48030
$250,000
For Sale
$250,000
Freestanding building with flexible office, fitness, medical, or retail use and ample front parking.
Property Size1,500 SF
Price / SF$166.67
Days on Market88
Property Features for 24831 John R Rd
General Information
- Standard status
- Active
- Size
- 1,500 SF
- Property subtype
- Retail
Listing agency
Keystone Commercial Real Estate
(248) 406-1761
Listed by
Kathleen Garmo
(248) 406-1761
Source
Cpix.resimplifi
Added: Apr 27 Updated: Jul 22 at 3:07PM Checked: Jul 22 at 3:07PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keystone Commercial Real Estate
Investment Insights
Based on property information with market context.
This 1,500 square foot freestanding building is designed for flexible use, supporting office, fitness, medical, or retail operations. The property is zoned LB for local business.
The building is positioned for strong exposure along John R Road and includes ample convenient front parking for customers and staff.
With its freestanding configuration, visible frontage, and front-parking access, the site is well suited for a range of neighborhood-oriented commercial uses.
The building is positioned for strong exposure along John R Road and includes ample convenient front parking for customers and staff.
With its freestanding configuration, visible frontage, and front-parking access, the site is well suited for a range of neighborhood-oriented commercial uses.
Key Highlights
- 1,500 SF freestanding building with flexible use for office, fitness, medical, or retail
- Zoned LB (Local Business)
- Excellent visibility along John R Road
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $37.8k | $25.20 |
| − Vacancy | −$4.0k | −$2.65 |
| EGI | $33.8k | $22.55 |
| − OpEx | −$13.5k | −$9.02 |
| NOI | $20.3k | $13.53 |
1,500 SF · lease $25.20/SF/yr · vacancy 10.50% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$290.0K
$253.7K – $338.3K
NOI $20,299 @ 7.0% cap · market cap 8.12%
Second Best
Retail
$230.6K
$201.8K – $269.0K
NOI $16,141 @ 7.0% cap · market cap 6.46%
Theoretical Best
Specialty Retail
$323.5K
$283.1K – $377.5K
NOI $22,648 @ 7.0% cap · market cap 9.06%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Freestanding building with flexible office, fitness, medical, or retail use and ample front parking.
Where is this retail space located?
The property is located at 24831 John R Rd Hazel Park, MI.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,500 SF freestanding building with flexible use for office, fitness, medical, or retail; Zoned LB (Local Business); Excellent visibility along John R Road
