8888 8 Mile RdFerndale, MI 48220

Property Details for 8888 8 Mile Rd

Year built

1998

Lot size

1.27 AC

Property size (Sq ft)

7,412 SF

Zone code

BI

Property type

Retail properties

Property subtype

Outlet malls

APN

S -25-33-380-041

APU

S2533380041

Description

Royal Town Center, a thriving 52,703 square foot strip center in Royal Oak Township, offers exceptional retail space. Strategically located on heavily trafficked 8 Mile Road (over 70,000 vehicles daily), this center benefits from its position between Ferndale and Oak Park. Built in 1995 and renovated in 2002, the property boasts 16 units and ample parking (450 spaces). Currently, 3,420 square feet of retail space is available, divisible to a minimum of 1,300 square feet and with a maximum contiguous space of 2,210 square feet. The property sits on a substantial 198,070 square foot lot and is zoned C3. Established tenants include Jet's Pizza, AutoZone, and America's Best Contacts & Eyeglasses, ensuring a strong existing customer base and high visibility. This presents a unique opportunity for businesses seeking a prime location within a vibrant and growing community. The property's size and layout offer flexibility for a variety of retail uses. Contact us today to learn more about this exceptional retail investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $2,266,134

  6.5%

  $2,091,816

  7%

  $1,942,401

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,747,163

  Geo Method

  $1,747,163

• Alternative Use

  Use

  Valuation

  Residential

  $1,764,525

  Hospitality

  $1,616,296

  Educational

  $1,344,739

  Medical

  $1,390,986

  Retail

  $2,091,816

Location Insight

City

Ferndale

County

Oakland

State

Michigan

Latitude

42.4465

Longitude

-83.1561

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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