22757 Woodward AveFerndale, MI 48220

Property Details for 22757 Woodward Ave

Year built

1926

Lot size

0.14 AC

Property size (Sq ft)

9,532 SF

Zone code

BI

Property type

Retail properties

Property subtype

Retail space

APN

24-25-34-126-017

APU

242534126017

Description

This exceptional 10,000 square foot retail property, located at the highly visible corner of Woodward Avenue and 9 Mile Road in Ferndale, Michigan, presents a unique investment opportunity. Situated on a 0.14-acre lot, this two-story, Class B building, constructed in 1926, boasts a prominent presence with 47,000 vehicles passing daily on Woodward Avenue. The property is professionally managed and meticulously maintained, having received awards for its façade improvements and restoration. Currently, 4,228 square feet of space is available, divisible into units as small as 1,061 square feet and up to a contiguous 4,228 square feet. The building features one suite and previously housed a nightclub, leaving behind three built-out bars, a garage door, a patio zone service window, existing signage on Woodward Avenue, and other valuable fixtures ideal for similar uses. A liquor license, including endorsements for extended hours, dance/entertainment, and Sunday sales, is available for purchase separately. Abundant municipal parking is conveniently located nearby. The property is zoned for Central Business District use and is situated in a thriving area alongside established businesses such as Jim Shaffer and Associates and Woodward Market Convenience Store. The property's versatile layout allows for adaptation to various retail or office uses. The Oakland County property (APN 2534126017) offers a compelling combination of location, history, and potential.

• CAP approach

  CAP return

  Valuation

  6%

  $2,914,300

  6.5%

  $2,690,123

  7%

  $2,497,971

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,246,891

  Geo Method

  $2,246,891

• Alternative Use

  Use

  Valuation

  Residential

  $2,269,219

  Hospitality

  $2,078,593

  Educational

  $1,729,365

  Medical

  $1,788,840

  Retail

  $2,690,123

Location Insight

City

Ferndale

County

Oakland

State

Michigan

Latitude

42.4604

Longitude

-83.135

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].