130 9 Mile RdFerndale, MI 48220

  • Office properties
  • 12,160 SF
For Sale
$4,500,000 View listing

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
130 9 Mile Rd, Ferndale, Michigan

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

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
$52,317
-
-
$1,177,150
-
-
-
$2,354,300

FAQs

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