Add Listing
    For Sale
    • 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

    1915 E Nine Mile Rd Ferndale, MI 48220

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $295,000

    Recently renovated office/retail space with dedicated parking and highway access.

    Building Details

    Year built
    1970

    We can help!

    Listing Contact
    Alex Gravlin
    Alex Gravlin
    Source: Lee-associates

    Listing Agent: Alex Gravlin

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

    Learn more

    Overview

    Renovated Office/Retail Space in Ferndale

    This recently renovated office/retail space is located in Downtown Ferndale, near 9 Mile and John R Roads, and offers access to I-75. The property features new mechanical systems and abundant dedicated parking. The property is currently occupied by a tenant with a lease through October 2026. The property size is 1710 square feet.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Ferndale
    County
    Oakland
    State
    Michigan
    Longitude
    -83.135
    Latitude
    42.4581

    Nearby Similar for Sale

    • $475,000
      2,644 SF

      Freestanding Retail Building in Ferndale

      2,644 SF retail building near downtown Ferndale and I-75.
      1805 E 9 Mile Rd, Ferndale, MI 48220
      View Details
    • $150,000
      1,062 SF

      Vintage Farmhouse on Two Lots

      Farmhouse built in 1923 on two lots in Ferndale.
      1130 E Breckenridge St, Ferndale, MI 48220
      View Details
    • $775,000
      3,986 SF

      Mixed-Use Property in Ferndale, MI

      Multi-unit property with residential and commercial opportunity in Ferndale.
      695 Livernois St, Ferndale, MI 48220
      View Details
    • $775,000
      3,186 SF

      Mixed-Use Property in Ferndale, MI

      Multi-unit property with residential and commercial opportunity in Ferndale.
      695 Livernois St, Ferndale, MI 48220
      View Details
    • $950,000

      Ferndale Retail Space For Sale

      Retail space in Ferndale with high visibility.
      545 W Nine Mile Rd, Ferndale, MI 48220
      View Details
    • $1,100,000

      Ferndale Industrial Building with Cranes

      11,200 SF industrial building with cranes and outside storage.
      930 East Drayton St, Ferndale, MI 48220
      View Details
    • $1,099,000

      Retail Space Ready For Occupancy

      Retail space in nice condition, ready for immediate occupancy.
      836 Livernois St, Ferndale, MI 48220
      View Details
    • $299,000

      Ferndale Office Space For Sale

      Office space in Ferndale's Cultural Arts District, walkable location.
      150 Livernois St, Ferndale, MI 48220
      View Details
    • $325,000
      Pending

      Ferndale Craftsman Bungalow Duplex

      Classic Craftsman bungalow in Ferndale, offering income-producing or single-family options.
      274 Silman St, Ferndale, MI 48220
      View Details
    • $1,200,000
      11,200 SF

      Ferndale Industrial Property for Sale

      Industrial property available for purchase in Ferndale, Michigan.
      930 E Drayton St, Ferndale, MI 48220
      View Details
    • $995,000
      4,340 SF

      Ferndale Industrial Building For Sale

      High-Visibility Woodward Ave. Industrial Space
      23365 Woodward St, Ferndale, MI 48220
      View Details

    FAQs

    What type of property is this?
    Office units - Recently renovated office/retail space with dedicated parking and highway access.
    Where is this office units located?
    The property is located at 1915 E Nine Mile Rd Ferndale, MI.
    What is the asking price?
    The asking price for this property is $295,000.
    What are key features of this property?
    This property features: - Tenant in place through October 2026 provides immediate income.; - Abundant dedicated parking, a valuable asset in Downtown Ferndale.; - Recently renovated with new mechanicals.
    (734) 664-8500
    Request Owner's contact information
    1915 E Nine Mile Rd 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.
    1915 E Nine Mile Rd
    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
    1915 E Nine Mile Rd 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
    Alex Gravlin
    Alex Gravlin
    (734) 664-8500 (248) 567-7999
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!