130 9 Mile RdFerndale, MI 48220
- Office properties
- 12,160 SF
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 properties
- Property subtype
- 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.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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