19378 Kelly RdHarper Woods, MI 48225

Property Details for 19378 Kelly Rd

Year built

1948

Lot size

0.07 AC

Property size (Sq ft)

3,200 SF

Zone code

C-2

Property type

Retail space

APN

42 001 01 0707 000

APU

42001010707000

Description

This exceptional 1600 square foot creative office space is ideally situated on Kelly Road, boasting excellent visibility. Located in a Class A building with a single-tenant occupancy, this property offers a unique opportunity for a variety of businesses. The space features 9-foot ceilings and was renovated in 2007, showcasing newly laminated flooring and fresh paint. Previously used as a hair salon studio, the layout includes four private spaces, perfect for subletting or creating distinct work areas. The building itself totals 3200 square feet, situated on a single story, and includes four parking spaces. The property is zoned commercial and benefits from 200 AMP power. The convenient location is further enhanced by its proximity to Roscommon and Elkhart cross streets. This versatile space is perfect for retail, office, or medical uses, offering a blend of modern aesthetics and functional design. The asking price is $15 per square foot gross, totaling $24,000 annually. Note that no equipment is included in the sale. This is a rare opportunity to secure a high-visibility, well-maintained space in a prime location.

• CAP approach

  CAP return

  Valuation

  6%

  $741,475

  6.5%

  $684,438

  7%

  $635,550

• Comparable approach

  Method

  Valuation

  Relative Method

  $311,301

  Geo Method

  $311,301

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,312,440

  Mixed-Use / Specialty

  $691,000

  Hospitality / Lodging

  $518,685

  Office

  $696,271

  Institutional / Educational

  $721,579

  Residential Income

  $844,247

  Multifamily

  $962,639

  Automotive / Energy

  $618,496

  Parking / Income-Based Land

  $204,542

  Restaurant / Food Service

  $378,606

  Healthcare / Senior Housing

  $699,376

Location Insight

City

Harper Woods

County

Wayne

State

Michigan

Latitude

42.4383

Longitude

-82.9497

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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