513 9 Mile RdFerndale, MI 48220

  • Retail properties
  • 3,114 SF
For Lease
$20/SF/YR View listing

Property Details for 513 9 Mile Rd

Year built
1924
Lot size
0.07 AC
Property size (Sq ft)
3,114 SF
Zone code
BI
Property type
Retail properties
Property subtype
Other individual retail properties
APN
24-25-34-102-051
APU
242534102051

Description

This exceptional 1,800 square foot retail space is available for lease in the vibrant heart of downtown Ferndale, Michigan. Situated on the south side of West Nine Mile Road, just west of Woodward Avenue, this single-tenant property offers unparalleled visibility and accessibility. Previously occupied by a hair salon, the space is located within a two-story building in the Central Business District (CBD), benefiting from the high foot traffic and bustling atmosphere of Ferndale's thriving commercial core. The property features convenient street parking, a significant advantage for both customers and employees. Building signage is available, providing excellent opportunities for branding and visibility. The location is surrounded by a diverse range of restaurants and retailers, creating a synergistic environment that fosters strong customer engagement and foot traffic. This prime retail space presents a unique opportunity for businesses seeking a high-profile location in a dynamic and desirable area. The space is ready for immediate occupancy and offers a blank canvas for a variety of retail concepts. Its central location and ample street parking make it an ideal choice for businesses seeking maximum exposure and convenience. The property's zoning designation as CBD ensures compatibility with a wide range of retail uses.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $952,070
    6.5%
    $878,834
    7%
    $816,060
  • Comparable approach

    Method
    Valuation
    Relative Method
    $734,035
    Geo Method
    $734,035
  • Alternative Use

    Use
    Valuation
    Residential
    $741,329
    Hospitality
    $679,053
    Educational
    $564,964
    Medical
    $584,394
    Retail
    $878,834
513 9 Mile Rd, Ferndale, Michigan

Location Insight

City
Ferndale
County
Oakland
State
Michigan
Latitude
42.4602
Longitude
-83.1414
CBSA code
19820
CBSA name
DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$8,367
-
-
$189,370
-
-
-
$378,740

FAQs

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