545 W Nine Mile Rd, Ferndale, MI 48220

Building Details

Building Size 4,501 SF More

Listing Agency: L. Mason Capitani, Inc.

Listed By: Aaron R. Smith · License MI #6501377543 Show Phone

Source: Cpix.resimplifi

Added: Mar 27 Changed: Oct 31 Last Checked: Nov 8 at 2:26AM

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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 L. Mason Capitani, Inc.

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Investment Insights

Based on property information with market context.

This commercial property is located in Ferndale and offers an investment opportunity with immediate income and future flexibility. The property features excellent building signage with strong main road visibility. A dedicated 21-car parking lot provides rare on-site parking. The roof and HVAC system were replaced in the last 4 years. There is an existing restaurant tenant in place, willing to remain through June 2027. The property size is 4,501 square feet.

Key Highlights

• Prime location in the heart of Ferndale
• Rare on‑site parking with a dedicated 21 car parking lot
• Investment opportunity with immediate income

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$67,958

Cap Rate

7.15%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,359,160 $1.4M

Cap Rate 7%

$970,829 $970.8K

Cap Rate 9%

$755,089 $755.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,501 SF

Gross rent

$97.2K $21.60/SF

− Vacancy

−$6.6K −$1.47/SF

EGI

$90.6K $20.13/SF

− OpEx

−$22.7K −$5.03/SF

NOI

$68.0K $15.10/SF

Area

Oakland County, MI

Vacancy

6.80%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,359,160

Cap Rate 7%

$970,829

Cap Rate 9%

$755,089

Alternative Uses

Best Use

Specialty Retail

$970.8K

$849.5K – $1.13M (±1% cap)

NOI $67,958 @ 7.0% cap · market cap 7.15%

Second Best

—

—

no second resolved use

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Restaurants

Suggested Use

Top Pick Law Firm Daycare Center Food Market (Bike/Boat/Book/etc) Store Computer & Electronic Repair Home Appliance Store

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

Location Intelligence

Trade Area within ½ mile

1,475

Businesses Nearby

144k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 75% Shops & Services 20% Beauty & Spa 2% Electronics 2%

McDonald's Dining

22,302 visits/mo 0.1 miles

Wendy's Dining

20,467 visits/mo 0.2 miles

Pizza Hut Dining

13,458 visits/mo 0.5 miles

Taco Bell Dining

10,104 visits/mo 0.4 miles

Mobil Shops & Services

9,934 visits/mo 0.2 miles

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

Average Price Trend$/SF for Restaurants in Oakland County, MI

$256 Jul

$207 Aug

$218 Sep

$244 Oct

Properties on Market for Restaurants in Oakland County

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Similar Off Market Nearby

• Quarton Catering — 22020 Woodward Ave, Ferndale, MI 48220
• Got Pho — 172 W Nine Mile Rd, Ferndale, MI 48220
• Hero or Villain Deli: HQ — 22965 Woodward Ave, Ferndale, MI 48220
• Cappuccino Man — W Cambourne St, Ferndale, MI 48220

Frequently Asked Questions

What type of property is this?

Restaurant - Restaurant property with income, parking, and signage in Ferndale.

Where is this restaurant located?

The property is located at 545 W Nine Mile Rd Ferndale, MI.

What is the asking price?

The asking price for this property is $950,000.

What are key features of this property?

This property features: Prime location in the heart of Ferndale; Rare on‑site parking with a dedicated 21 car parking lot; Investment opportunity with immediate income