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20570 Kelly Rd
Harper Woods, MI 48225
Retail Property For Sale
EXECUTIVE SUMMARY
A great investment in a busy commercial area of Harper Woods. The building is leased to Harper Woods public schools with an income of $21,715 a month in a triple-net contract. The owner pays liability insurance. The lease expires on March 29, 2033. The property is on a busy intersection, and the property is near a redevelopment of one million square feet of warehouses and stores in the former Eastland Mall. It is also near HomeDepot and other medium to large stores along Kelly Road and Eight Mile Road. Please do not disturb the school. All inquiries must be through listing agent. Buyer and buyer agent to verify information.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
27,919 SF
Building Class
B
Year Built
1997
Price
$3,500,000
Price Per SF
$125.36
Cap Rate
7.16%
NOI
$250,580
Tenancy
Single
Building Height
1 Story
Building FAR
0.21
Lot Size
3.00 AC
Zoning
RS-1
Parking
145 Spaces (5.19 Spaces per 1,000 SF Leased)
Frontage
PROPERTY TAXES
| Parcel Number | 42-009-99-0002-701 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $387,700 |
PROPERTY TAXES
Parcel Number
42-009-99-0002-701
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$387,700
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