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    210 W Nine Mile Rd Ferndale, MI

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    For Lease
    Contact for pricing

    Downtown Ferndale office space with natural light and parking.

    Property size:
    2,400 SF
    Lot size:
    0.28 Acres

    Property Features for 210 W Nine Mile Rd

    General Information

    Size
    2,400 SF
    Lot size
    0.28 Acres

    We can help!

    Listing Contact
    Rick Ax
    Rick Ax
    Source: Moodyscre

    Listing Agency: NAI Farbman - Corporate Listing Agent: Rick Ax

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Ferndale Office Loft For Rent

    This second-floor office loft is located in downtown Ferndale, just west of Woodward Avenue. The property features two large open areas and benefits from plenty of natural light. It includes four utility sinks and two ADA-compliant bathrooms. Public parking is readily available in the vicinity. The space is suitable for office use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Ferndale
    County
    Oakland
    State
    Michigan
    Longitude
    -83.140785
    Latitude
    42.460914

    Nearby Similar for Lease

    • $1,000 /Mo
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      Downtown Ferndale Office Space Above Toast

      Turnkey office space in prime downtown Ferndale location.
      23150 Woodward Ave, Ferndale, MI 48220
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    • $800 /Mo
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      Downtown Ferndale Office Space Above Toast

      Turnkey office space in downtown Ferndale, ideal location, easy access.
      23150 Woodward Ave, Ferndale, MI 48220
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    • $3,700 /Mo

      Ferndale Retail/Office Space For Rent

      Prime downtown Ferndale location with flexible lease terms.
      23059 Woodward Ave, Ferndale, MI 48220
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      Downtown Ferndale Office Space

      Prime office space above Toast in downtown Ferndale.
      23150 Woodward Ave, Ferndale, MI 48220
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    • $3,850 /Mo

      Ferndale Office/Retail Space Available

      Office/retail space with downtown views and high exposure.
      413 W Nine Mile Rd, Ferndale, MI 48220
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    • $3,700 /Mo

      Downtown Ferndale Retail/Office Space

      Prime location in downtown Ferndale, ideal for retail or office.
      23059 Woodward Ave, Ferndale, MI 48220
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    • $3,850 /Mo

      Ferndale Office/Retail Space Available

      Office or retail space with downtown views and open layout.
      413 W Nine Mile Rd, Ferndale, MI 48220
      View Details
    • $15 SF/Yr

      Ferndale Office Space for Lease

      2,500 SF office space available for lease in Ferndale.
      2241 Hilton Rd, Ferndale, MI 48220
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    • $1,300 /Mo
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      Ferndale Garage Space for Rent

      Versatile 1,500 SF garage space near downtown Ferndale.
      522 E Nine Mile Rd, Ferndale, MI 48220
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    • $18 SF/Yr
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      Retail Space at Woodward and Nine

      Retail space available at a prominent intersection in Ferndale.
      211 West Troy St, Ferndale, MI 48220
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    • $14 SF/Yr

      Creative Space in Ferndale Available

      9,500 SF creative space for lease in Ferndale.
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    • $1,000 /Mo

      Ferndale Creative/Loft Office Space

      Office space available in Ferndale, just south of I-696.
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    FAQs

    What type of property is this?
    Office units - Downtown Ferndale office space with natural light and parking.
    Where is this office units located?
    The property is located at 210 W Nine Mile Rd Ferndale, MI.
    What are key features of this property?
    This property features: - Downtown Ferndale Location; - Cool 2nd Floor Office Loft; - Two Large Open Areas
    (248) 852-0314 Call to check price and availability
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    Ferndale, MI
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    210 W Nine Mile Rd Ferndale, MI
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Rick Ax
    Rick Ax
    (248) 852-0314 (248) 353-0500
    Learn more
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