22720 Woodward AveFerndale, MI 48220
- Office properties
- 16,111 SF
Property Details for 22720 Woodward Ave
- Year built
- 1954
- Lot size
- 0.19 AC
- Property size (Sq ft)
- 16,111 SF
- Zone code
- BI
- Property type
- Office properties
- Property subtype
- Office buildings
- APN
- 24-25-34-127-009
- APU
- 242534127009
Description
This exceptional mixed-use property at 22720 Woodward Avenue in Ferndale, Michigan offers 7,985 square feet of retail and office space, ideally situated in the Royal Oak Vicinity submarket within Oakland County. The building features five individual suites, perfect for businesses seeking flexible space options. Currently, 3,040 square feet are available for lease, with individual suites ranging from a minimum of 520 square feet to a maximum contiguous space of 960 square feet. The property is zoned CBD, providing excellent access to amenities and high visibility. Tenancy is multiple, allowing for a diverse range of businesses to coexist. While on-site parking is not provided, ample city parking is readily available. The building includes elevators for convenient access to all floors. This location offers a unique opportunity for businesses seeking a vibrant and accessible location in the heart of Ferndale, with easy access to Woodward Avenue and its bustling commercial activity. The property's mixed-use zoning allows for a variety of business types, making it an ideal location for a range of commercial enterprises. Inquire today to learn more about leasing opportunities within this dynamic and well-located building. The zip code is 48220.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $3,350,853
- 6.5%
- $3,093,095
- 7%
- $2,872,160
-
Comparable approach
- Method
- Valuation
- Relative Method
- $1,507,023
- Geo Method
- $1,507,023
-
Alternative Use
- Use
- Valuation
- Residential
- $3,835,438
- Hospitality
- $3,513,240
- Educational
- $2,922,975
- Medical
- $3,023,500
- Retail
- $4,546,850
Location Insight
- City
- Ferndale
- County
- Oakland
- State
- Michigan
- Latitude
- 42.4601
- Longitude
- -83.1335
- 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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