Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    359 Livernois St Ferndale, MI 48220

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $18 SF/Yr ($10,200 /Mo)

    Creative space available for lease in the Livernois Creative Corridor.

    Property size:
    6,800 SF
    Lot size:
    0.56 Acres

    Property Features for 359 Livernois St

    General Information

    Size
    6,800 SF
    Lot size
    0.56 Acres

    We can help!

    Listing Contact
    Rick Ax
    Rick Ax
    Source: Moodyscre

    Listing Agent: Rick Ax

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

    Learn more

    Overview

    Creative Space in Livernois Corridor

    This creative space, situated in the Livernois Creative Corridor, offers between 4,000 and 6,800 square feet available for lease. The property features an overhead door and ample parking. It is located within walking distance of the Ferndale Collective.
    Location Intelligence

    Current Use by Public Records

    Creative space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Ferndale
    County
    Oakland
    State
    Michigan
    Longitude
    -83.1428906
    Latitude
    42.4486642

    Nearby Similar for Lease

    • $800 /Mo
      450 SF

      Downtown Ferndale Office Space Above Toast

      Turnkey office space in downtown Ferndale, ideal location, easy access.
      23150 Woodward Ave, Ferndale, MI 48220
      View Details
    • $1,000 /Mo
      500 SF

      Downtown Ferndale Office Space Above Toast

      Turnkey office space in prime downtown Ferndale location.
      23150 Woodward Ave, Ferndale, MI 48220
      View Details
    • $15 SF/Yr
      4,300 SF

      Ferndale Executive Office/Distribution Space

      4,300 SF Office/Distribution Space Available
      3100 Hilton Rd, Ferndale, MI 48220
      View Details
    • Contact for pricing
      7,985 SF

      Ferndale Executive Office Suites

      Prime Ferndale location, flexible office space.
      22720 Woodward Ave, Ferndale, MI 48220
      View Details
    • $14 SF/Yr
      26,645 SF

      Ferndale Center Retail Space Available

      Prime Ferndale retail space, multiple units.
      22304 Woodward Ave, Ferndale, MI 48220
      View Details
    • $9 SF/Yr
      16,000 SF

      Ferndale Warehouse: 16,000 SF Available

      Multiple suites, flexible space, ideal for distribution.
      8915 Northend Ave, Ferndale, MI 48220
      View Details
    • $3,700 /Mo

      Downtown Ferndale Retail/Office Space

      Prime location in downtown Ferndale, ideal for retail or office.
      23059 Woodward Ave, Ferndale, MI 48220
      View Details
    • $10 SF/Yr
      6,279 SF

      Prime Ferndale Executive Office Space

      6,279 SF Office, Single Tenant Available
      1415 Wordsworth St, Ferndale, MI 48220
      View Details
    • $1,300 /Mo

      Ferndale Garage Space for Rent

      Versatile garage space near downtown Ferndale, ideal for storage.
      522 E 9 Mile Rd, Ferndale, MI 48220
      View Details
    • $850,000
      5,400 SF

      Historic Office Building on Woodward

      1927 building with versatile space and high visibility.
      22100 Woodward Ave, Ferndale, MI 48202
      View Details
    • $16 SF/Yr
      52,703 SF

      Royal Town Center Retail Space

      Prime Royal Oak Retail Opportunity.
      8888 8 Mile Rd, Ferndale, MI 48220
      View Details
    • $28 SF/Yr
      1,354 SF

      Turnkey Bakery Space on Woodward

      Bakery space for sublease with equipment included and ample parking.
      23123-23141 Woodward Ave, Ferndale, MI 48220
      View Details

    FAQs

    What type of property is this?
    Creative space - Creative space available for lease in the Livernois Creative Corridor.
    Where is this creative space located?
    The property is located at 359 Livernois St Ferndale, MI.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: - Located in the Livernois Creative Corridor; - **4,000-6,800 SF Available For Lease**; - Plenty of Parking
    (248) 852-0314
    Request Owner's contact information
    359 Livernois St Ferndale, MI 48220
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    359 Livernois St
    Ferndale, MI 48220
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    359 Livernois St Ferndale, MI 48220
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Rick Ax
    Rick Ax
    (248) 852-0314
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.