11426 Kelly RdDetroit, MI 48224

Property Details for 11426 Kelly Rd

Year built

1948

Lot size

0.41 AC

Property size (Sq ft)

9,500 SF

Zone code

B3

Property type

Retail space

APN

21056813-22

APU

2105681322

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $2,904,516

  6.5%

  $2,681,092

  7%

  $2,489,585

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,239,348

  Geo Method

  $2,239,348

• Alternative Use

  Use

  Valuation

  Residential

  $2,261,601

  Hospitality

  $2,071,615

  Educational

  $1,723,559

  Medical

  $1,782,835

  Retail

  $2,681,092

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.4199

Longitude

-82.9637

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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