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    23365 Woodward St Ferndale, MI 48220

    Sponsored
    For Sale
    $995,000

    High-Visibility Woodward Ave. Industrial Space

    Property size:
    4,340 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional 4,340 square foot industrial building is ideally located on Woodward Avenue in Ferndale, MI, a thriving and highly sought-after residential area experiencing significant downtown expansion. Benefitting from high visibility and increased foot traffic due to recent city traffic management initiatives, including a road detour directly in front of the property, this location offers unparalleled exposure. The building sits on a 0.14-acre lot and includes a substantial parking lot with over twenty spaces, independently valued at approximately $200,000. The property has undergone extensive renovations within the last three years, encompassing electrical and plumbing upgrades, tuck pointing of the brick exterior, roof replacement, and new flooring. Modernized bathrooms enhance the functionality and comfort of the space. The unique layout of this building makes it suitable for a variety of business uses. Priced at $995,000, this is a rare opportunity to acquire a well-maintained, high-traffic industrial property in a rapidly growing area. The building's prime location and recent improvements make it an attractive investment for discerning buyers.

    Property Features for 23365 Woodward St

    General Information

    Property type
    Industrial properties
    Square Feet
    4,340 SF
    Lot Size
    6,098 SF

    Building Details

    Year Built
    1919
    Property Profile Location Intelligence

    Current Use by Public Records

    Industrial properties

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ferndale
    County
    Oakland
    State
    Michigan
    Longitude
    -83.1388
    Latitude
    42.46593

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    FAQs

    What type of property is this?
    Industrial property - High-Visibility Woodward Ave. Industrial Space
    Where is this industrial property located?
    The property is located at 23365 Woodward St Ferndale, MI.
    What is the asking price?
    The asking price for this property is $995,000.
    (248) 646-5000
    Request Owner's contact information
    23365 Woodward St Ferndale, MI 48220
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    Ferndale, MI 48220
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    23365 Woodward St Ferndale, MI 48220
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