Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1415 Wordsworth St Ferndale, MI 48220

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office space for lease in Ferndale, Michigan.

    Type:Office
    Added:
    Aug 29, 2024
    Days on Market:
    595
    Last Refresh:
    Mar 17 at 1:21 pm

    Property Features for 1415 Wordsworth St

    General Information

    Standard status
    Active
    Property subtype
    Office

    Spaces For Lease

    at 1415 Wordsworth St Contact us

    Available space $10 /Mo

    Size
    6,279 SF
    Type
    Office
    $6,500/Month/NNN
    Contact us

    We can help!

    Listing Contact
    Kurt Weber

    Listing agent Kurt Weber License #6501446026

    Listing office Colliers - Royal Oak/Detroit, Michigan

    Listing date Aug 29, 2024

    Source Crexi

    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 Colliers - Royal Oak/Detroit, Michigan

    Overview

    Office Space Available For Lease

    This commercial real estate property, identified as an office space, is available for lease. Located on Wordsworth Street in Ferndale, Michigan, the property offers opportunities for businesses seeking a commercial location.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office properties & Spaces

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • iwerk — 856 E 9 Mile Rd, Ferndale, MI 48220
    • Charity Studio — 1938 Burdette St, Ferndale, MI 48220
    • Anything Electronics Authorized Retailer - Ferndale MI — 853 Eight Mile Rd, Ferndale, MI 48220
    • Anypath Technologies — 150 Vester Ave suite 304, Ferndale, MI 48220

    Location Insight

    • Map
    • Local Demand
    City
    Ferndale
    County
    Oakland
    State
    Michigan
    Longitude
    -83.1146006
    Latitude
    42.4538299

    Nearby Similar for Lease

    • Contact for pricing

      Charming Retail/Office Storefront in Ferndale

      800 sq ft retail/office on 9 Mile in Ferndale.
      263 W 9 Mile, Ferndale, MI 48220
      View Details
    • Contact for pricing

      Downtown Ferndale Office Space Above Toast

      Turnkey office space in prime downtown Ferndale location.
      23150 woodward, Ferndale, MI 48220
      View Details
    • Contact for pricing

      Downtown Ferndale Office Space Above Toast

      Turnkey office space in downtown Ferndale, ideal location, easy access.
      23150 woodward ave, Ferndale, MI 48220
      View Details
    • $15/mo

      Ferndale Office Space for Lease

      2,500 SF office space available for lease in Ferndale.
      2241 Hilton, Ferndale, MI 48220
      View Details
    • Contact for pricing

      Ferndale Creative/Loft Office Space

      Office space available in Ferndale, just south of I-696.
      2505 Hilton, Ferndale, MI 48220
      View Details
    • Contact for pricing

      Downtown Ferndale Office Loft

      Second floor office loft in downtown Ferndale with natural light.
      200 West Nine Mile Road, Ferndale, MI 48220
      View Details
    • $8/mo

      High-End Industrial/Flex Building For Rent

      10,500 SF industrial/flex building with warehouse and office space.
      930 E Lewiston Ave, Ferndale, MI
      View Details
    • Contact for pricing

      Prime Corner Retail/Office Space

      Prominent corner location in Ferndale with flexible space options.
      22757 Woodward Ave, Ferndale, MI 48220
      View Details
    • $14/mo

      Creative Space in Ferndale Available

      9,500 SF creative space for lease in Ferndale.
      1200 Woodward Heights, Ferndale, MI 48220
      View Details
    • $28/mo

      Turnkey Bakery Space on Woodward

      Bakery space for sublease with equipment included and ample parking.
      23123-23141 Woodward Ave, Ferndale, MI
      View Details
    • $14/mo

      Creative Flex Space For Rent

      6,500 SF creative flex space available for lease.
      1220-1260 Woodward Heights, Ferndale, MI
      View Details
    • $60,000/mo

      Ferndale Warehouse with Renovated Office

      Light industrial building with renovated office space for lease.
      1521 Eight Mile W, Ferndale, MI 48220
      View Details

    FAQs

    What type of property is this?
    Office property - Office space for lease in Ferndale, Michigan.
    Where is this office property located?
    The property is located at 1415 Wordsworth St Ferndale, MI.
    What are key features of this property?
    This property features: For Lease
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Kurt Weber
    Real Estate License ID: 6501446026
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!