Building Details

Building Size 500 SF

Year Built 1950

Listing Agency: KW Domain f***@kw.com Show Phone

Listed By: Logan Smith Show Phone

Source: Proper-realestate

Added: May 27 Changed: Nov 1 Last Checked: Nov 3 at 8:37AM

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Investment Insights

Based on property information with market context.

This 500-square-foot office unit was built in 1950 and is designated for commercial and office use. The landlord pays all utilities. The unit is above Toast at 23150 Woodward in downtown Ferndale, with access to Woodward and major highways. It is not handicap accessible.

Key Highlights

• 500‑square‑foot office unit
• Commercial and office zoning
• Landlord pays all utilities

Property Analytics

Current Use

Office Units

Suggested Use

Top Pick Daycare Center (Bike/Boat/Book/etc) Store Computer & Electronic Repair Garden Center Nursing Home Pet Grooming Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

NNN (Triple Net)

Lease Type

$3.60 /SF/Yr

CAM

Location Intelligence

Trade Area within ½ mile

1,602

Businesses Nearby

Explore this area Business Placement

Demographics for 48220, MI

21,564

Population

12,003

Households

1.8

Avg Household Size

37

Median Age

53%

College-Educated

96%

High-School Grad

4.4 sq mi

ZIP Area

4,901

Density / Sq Mi

$86,095

Median Household Income

$54,557

Median Earnings

$1,191

Median Rent

$229,700

Median Home Value

Market

Lease Benchmarks for Ferndale, MI

$21.54 /SF/Yr

Avg Asking Price

$12–$39 /SF/Yr

Price Range

8,079 SF

Avg Space Size

This space is priced 11% above the average of $21.54 /SF/Yr.

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Frequently Asked Questions

What type of property is this?

Office unit - The landlord covers all utilities for this office space.

Where is this office unit located?

The property is located at 23150 Woodward #2 Ferndale, MI.

What is the lease rate?

The lease rate is $1,000/Mo.

What are key features of this property?

This property features: 500‑square‑foot office unit; Commercial and office zoning; Landlord pays all utilities