Renovated Office with Built-in
For Sale
Contact for pricing
22830 Kelly Rd, Eastpointe, MI 48021
Renovated office space with top-of-the-line equipment and built-in pool.
Property Size2,730 SF
Price / SF$164.84
Days on Market964
Property Features for 22830 Kelly Rd
General Information
Standard status
Active
Size
2,730 SF
Class
A
Property subtype
Office
Building Details
Year Built
1960
Listing Agency:
eXp Realty LLC - Michigan
Listed By:
Sotero Lopez II · License #MI 6501379765
(586) 863-3300
Source:
Crexi
Added: Mar 1, 2024
Changed: Oct 6
Last Checked: Oct 20 at 5:17PM
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 eXp Realty LLC - Michigan
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Investment Insights
Based on property information with market context.
This renovated office space, previously Axpert Rehab Aquatics, features top-of-the-line equipment and a built-in pool. The 2,730 square-foot property has been completely renovated from top to bottom. The building includes SportsArt massage chairs, treadmills, bicycles, a Hydroworx EVO aquatic therapy machine, and a trampoline. It also features a washer and dryer. Both bathrooms have showers. The property also includes a large office on the second level with room to expand. The roof and mechanicals are new.
Key Highlights
- Fully equipped, turn‑key physical therapy facility with top‑of‑the‑line equipment, including a Hydroworx EVO Aquatic Therapy machine, SportsArt massage chairs, treadmills, and bicycles.
- Features a built‑in pool designed for aquatic therapy.
- Completely renovated from top to bottom with new mechanicals and roof.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,622
Cap Rate
6.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$572,440
$572.4K
Cap Rate 7%
$408,886
$408.9K
Cap Rate 9%
$318,022
$318.0K
Market Conditions
NOI Build-Up for 2,730 SF
Gross rent
$54.1K $19.80/SF
− Vacancy
−$6.4K −$2.33/SF
EGI
$47.7K $17.47/SF
− OpEx
−$19.1K −$6.99/SF
NOI
$28.6K $10.48/SF
Area
Macomb County, MI
Vacancy
11.75%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$572,440
Cap Rate 7%
$408,886
Cap Rate 9%
$318,022
Alternative Uses
Best Use
Healthcare Medical
$408.9K
$357.8K – $477.0K
NOI $28,622 @ 7.0% cap · market cap 6.36%
Second Best
Office B
$134.3K
$117.5K – $156.6K
NOI $9,398 @ 7.0% cap · market cap 2.09%
Theoretical Best
Specialty Retail
$511.1K
$447.2K – $596.3K
NOI $35,777 @ 7.0% cap · market cap 7.95%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
498
Businesses Nearby
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Rehabilitation center - Renovated office space with top-of-the-line equipment and built-in pool.
Where is this rehabilitation center located?
The property is located at 22830 Kelly Rd Eastpointe, MI.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Fully equipped, turn‑key physical therapy facility with top‑of‑the‑line equipment, including a Hydroworx EVO Aquatic Therapy machine, SportsArt massage chairs, treadmills, and bicycles.; Features a built‑in pool designed for aquatic therapy.; Completely renovated from top to bottom with new mechanicals and roof.
