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Property profile & analytics
OFF-MARKET
Estimated value
$725,000
Medical Office Space
22480 Kelly Rd, Eastpointe, MI 48021-2623
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US43-5238447
Property summary
AI-generated overview
This 5,676 square foot multi-tenant retail building, located at 22480 Kelly Road in Eastpointe, Michigan, is currently 32.5% occupied. Built in 1974, the property sits on a 0.45-acre lot and is zoned B-1. It features 38 parking spaces and boasts a prime location with high traffic volume. Over 19,000 vehicles pass daily on Kelly Road, and the intersection with E 9 Mile Road sees over 44,000 vehicles daily. Its proximity to I-94 (over 150,000 vehicles daily) provides excellent freeway access and visibility. The property is situated within a thriving commercial and industrial hub, near the Eastpointe Commons retail complex and Eastpointe Industrial Park. The area is characterized by a strong concentration of medical, office, and automotive-related businesses, along with several recession-resistant national tenants. With over 153,000 residents within a 3-mile radius and convenient access to Lake St. Clair, this property offers significant potential for growth and investment. The property is being offered at auction with an asking price of $125,000. The Macomb County property's APN is 02-14-32-234-014. This is a value-add opportunity in a desirable location within the Detroit Metropolitan Statistical Area, a region with a population exceeding 4.4 million. The property's current subtype is Pharmacy/Drug.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1974
Total area
5,676 SF
Lot
0.46 ac (19,820 SF)
Zoning code
B-1
APN
02-14-32-234-014
UPID
US43-5238447
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Kelly Family Medical Center Medical Clinic
-
Pain Center: Rubles Kathi MD Physician
-
Pointe East Podiatry Physician
-
Pain Center: Van Horn F PHD Physician
-
Pain Center: Matulis A MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$723k
Blend (final)
Blend
$725k
Owner & transaction history
Kaiser Real Estate LLC · 12 yrs held
Kaiser Real Estate LLC
since 2013
3 recorded transactions
Zoning & alternative use
B-1 · Eastpointe, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$805,000
+15.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Eastpointe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Eastpointe submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$695,000
Current use
RESTAURANT
$805,000
Change: +15% · Conversion: Difficult
COMMERCIAL (GENERAL)
$585,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$725k
Range $653k – $798k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$128 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$23,645
Tax year 2022
Assessed value
$330,200
Assessed 2023
Previous assessed
$293,700
+12.4% YoY
Effective rate
7.16%
On assessed value
Total market value
$660,400
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1974
Heating
FORCED AIR
Stories
1
Total area
5,676 SF
Lot
0.46 ac (19,820 SF)
Zoning code
B-1
APN
02-14-32-234-014
UPID
US43-5238447
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
B-1 · Eastpointe, MI
Zoning B-1 · permitted uses
B-1 · Eastpointe, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Eastpointe. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$695,000
RESTAURANT
Est. value
$805,000
COMMERCIAL (GENERAL)
Est. value
$585,000
MEDICAL BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1974
Heating
FORCED AIR
Stories
1
Lot
0.46 ac
Current owner
From public records · entity-resolved
Kaiser Real Estate LLC
Entity
Mailing address
27423 PO BOX 516TH AVE, KEEGO HARBOR, MI 48320-0516
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 20, 2013
—
Kaiser Real Estate LLC
Bothra,rajandra & Pramila
Warranty Deed
—
Nov 25, 2009
$395,000
Rajandra Bothra
Pif Investment Properties LLC
Warranty Deed
—
—
—
Rajandra Bothra
—
Deed Of Trust
related
$382,500 · Comerica Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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