130 9 Mile RdFerndale, MI 48220

Property Details for 130 9 Mile Rd

Year built

1923

Lot size

0.26 AC

Property size (Sq ft)

12,160 SF

Zone code

BI

Property type

Office buildings

APN

24-25-34-127-012

APU

242534127012

Description

This stunning 18,699 square foot Class A office building, located in the heart of Ferndale, Michigan's vibrant CBD, presents a unique blend of historic charm and modern functionality. Originally constructed in 1915 and extensively renovated in 2006, this three-story building boasts exquisite details including Pewabic tile, exposed brick, and original oak flooring. The property features a striking three-story glass atrium, bathing the interior in natural light. Each floor includes a dedicated conference room, and amenities extend to a fitness center complete with lockers and showers, a large kitchen and dining area, and a third-floor outdoor terrace overlooking the downtown area. Two gas fireplaces add to the building's unique character. The building offers a variety of office sizes and types, making it suitable for a single user or multiple tenants. Its prime location offers easy access to restaurants, shops, and bike rentals, and an adjacent city parking lot provides reserved spaces for added convenience. The asking price for this exceptional property is $4,500,000. The 0.31-acre lot provides ample space and potential. This is a truly exceptional opportunity to acquire a landmark property in a thriving Michigan community.

• CAP approach

  CAP return

  Valuation

  6%

  $2,529,102

  6.5%

  $2,334,556

  7%

  $2,167,802

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,137,446

  Geo Method

  $1,137,446

• Alternative Use

  Use

  Valuation

  Residential

  $2,894,850

  Hospitality

  $2,651,667

  Educational

  $2,206,156

  Medical

  $2,282,028

  Retail

  $3,431,798

Location Insight

City

Ferndale

County

Oakland

State

Michigan

Latitude

42.4604

Longitude

-83.1334

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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