Property profile

22480 Kelly Rd Eastpointe, MI 48021

OFF-MARKET
Medical Office Space
Property ID
US43-5238447
5,676 SF 0.46 ac lot Built 1974
Entity Owned 12-yr Hold ~ Est. High Equity
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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

Current use

Occupant on record · Public records
  • Medical Clinic
  • Physician
  • Physician
  • Physician
  • Physician

Location

22480 Kelly Rd Eastpointe, MI 48021-2623
Eastpointe metro Census 258500 DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$723k
Blend (final) Blend
$295k

Owner & transaction history

since 2013
3 recorded transactions
2013
Price N/A
2009
$395,000
1969
Price N/A

Zoning & alternative use

B-1 · Eastpointe, MI
Top alternative use upside
Restaurant $805,000 +15.4%

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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