Vacant Bar and Restaurant with
345 E 9 Mile Rd Ferndale, MI 48220
For Sale
$1,890,000
Vacant bar/restaurant with separate music venue, with sale including furniture, fixtures, and equipment.
Property Size11,028 SF
Price / SF$171.38
Days on Market639
Property Features for 345 E 9 Mile Rd
General Information
- Standard status
- Active
- Size
- 11,028 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1950
Listing Agency:
Thomas A. Duke Company
(248) 476-3700
Listed By:
Steven R. Valli · License #6501384188
(248) 476-3700
Source:
Cpix.resimplifi
Added: Oct 24, 2024
Changed: Jul 22
Last Checked: Jul 23 at 2:45AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Thomas A. Duke Company
Investment Insights
Based on property information with market context.
This offering includes a vacant bar/restaurant with a separate music venue. The sale includes furniture, fixtures, and equipment. The property is offered with reference to liquor licensing requirements, and buyers should contact the City of Ferndale for details regarding the liquor license.
The property is located east of Woodward Ave, on the north side of E Nine Mile Rd, in a redevelopment area that includes new loft condos, office, and retail. The site is described as an ideal corner location.
The current configuration is centered on entertainment and food-and-beverage use, with distinct space for the bar/restaurant and a separate music venue.
The property is located east of Woodward Ave, on the north side of E Nine Mile Rd, in a redevelopment area that includes new loft condos, office, and retail. The site is described as an ideal corner location.
The current configuration is centered on entertainment and food-and-beverage use, with distinct space for the bar/restaurant and a separate music venue.
Key Highlights
- Vacant bar/restaurant with a separate music venue
- Year built: 1950
- Located east of Woodward Ave on the north side of E Nine Mile Rd
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $238.2k | $21.60 |
| − Vacancy | −$16.2k | −$1.47 |
| EGI | $222.0k | $20.13 |
| − OpEx | −$55.5k | −$5.03 |
| NOI | $166.5k | $15.10 |
11,028 SF · lease $21.60/SF/yr · vacancy 6.80% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.38M
$2.08M – $2.78M
NOI $166,505 @ 7.0% cap · market cap 8.81%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Bars & Pubs
Similar Off Market Nearby
- BARREL HOUSE — 22740 Woodward Ave, Ferndale, MI 48220
- Karaoke — 201 W Nine Mile Rd, Ferndale, MI 48220
- J's Penalty Box — 22726 Woodward Ave, Ferndale, MI 48220
- Sam's Grill. North Of 8 Mile On Woodward — 21468 e m-1 srv rd, ferndale, mi 48220
- Soho — 205 W Nine Mile Rd, Ferndale, MI 48220
FAQs
What type of property is this?
Bar & Pub - Vacant bar/restaurant with separate music venue, with sale including furniture, fixtures, and equipment.
Where is this bar & pub located?
The property is located at 345 E 9 Mile Rd Ferndale, MI.
What is the asking price?
The asking price for this property is $1,890,000.
What are key features of this property?
This property features: Vacant bar/restaurant with a separate music venue; Year built: 1950; Located east of Woodward Ave on the north side of E Nine Mile Rd
