Property profile

11426 Kelly Rd Detroit, MI 48224

OFF-MARKET
Retail space
Property ID
US43-1023940
9,500 SF 0.41 ac lot Built 1948
Entity Owned 1-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This 9,500 square-foot retail shopping center presents a compelling value-add investment opportunity in Detroit, Michigan. Located at 11426 Kelly Road, this single-story, 1948-built structure sits on a 0.41-acre lot and is zoned B3. The building boasts a secure, block construction with convenient side parking. Interior features include rolling metal doors, high ceilings, and a large open space, ideal for a variety of retail uses. The property has been thoroughly cleaned and is ready for immediate tenant improvements or build-out to suit a new owner's vision. Its prime location in Wayne County, with easy access via Kelly Road and a convenient zip code of 48224, offers significant potential for growth and return on investment. The asking price is $60,000, making this an attractive proposition for investors seeking a project with significant upside potential. The property's existing infrastructure and ample space provide a solid foundation for a successful retail venture. This is a rare chance to acquire a well-located, adaptable retail space in a growing market at an exceptionally competitive price. Don't miss this chance to capitalize on this promising investment opportunity.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1948
Total area 9,500 SF
Lot 0.41 ac (17,860 SF)
Zoning code B3
APN 21056813-22
UPID US43-1023940

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Church

Location

11426 Kelly Rd Detroit, MI 48224-1516
Detroit metro Census 501100 DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
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Comparable Approach Comparable
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Blend (final) Blend
$180k

Owner & transaction history

since 2024
6 recorded transactions
2024
$70,000
2015
Price N/A
2013
$170,000
2011
Price N/A
2004
$25,000
1969
Price N/A

Zoning & alternative use

B3 · Detroit, MI
Zoning description

Ord. No. 11-05, § 1(61-7-2), eff. 5-28-2005) Sec. 50-7-3. - Business Districts. Business districts within the City are as follows: (1) B1 Restricted Business District. (2) B2 Local Business and Residential District. (3)…

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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