Tri-Unit Mixed-Use
New
For Sale
$749,900
695 Livernois, Ferndale, MI 48220
Commercial and multi-family zoning supports a combined residential and business configuration.
Property Size3,986 SF
Days on Market7
Property Features for 695 Livernois
General Information
Standard status
Active
Size
3,986 SF
Property subtype
Commercial
Zoning
Commercial, Multi-Family, M
Taxes and HOA fees
Annual Taxes
$7,173
Building Details
Building Size
3,986 SF
Year Built
1942
Listing Agency:
KW Metro
(248) 288-3500
Listed By:
Alina Valentine
Source:
Thebrokeragehouse
Added: Aug 15
Changed: Aug 16
Last Checked: Aug 20 at 3:06PM
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 KW Metro
Investment Insights
Based on property information with market context.
This tri-unit property combines residential and commercial components within a mixed-use configuration. The zoning designation is Commercial, Multi-Family, M, supporting the property’s blended use profile. Built in 1942, the asset offers an established building platform for an owner-user or investor evaluating residential and business occupancy together.
The property is located at 695 Livernois in Ferndale, Michigan, with the ZIP code 48220. Its three-unit arrangement and mixed-use classification distinguish it from single-purpose residential or commercial buildings.
The property is located at 695 Livernois in Ferndale, Michigan, with the ZIP code 48220. Its three-unit arrangement and mixed-use classification distinguish it from single-purpose residential or commercial buildings.
Key Highlights
- Three‑unit mixed‑use property
- Zoning: Commercial, Multi‑Family, M
- Residential and commercial components
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$52,760
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.04%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,055,200
$1.1M
Cap Rate 7%
$753,714
$753.7K
Cap Rate 9%
$586,222
$586.2K
Market Conditions
NOI Build-Up for 3,986 SF
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.
Gross rent
$78.9K $19.80/SF
− Vacancy
−$3.6K −$0.89/SF
EGI
$75.4K $18.91/SF
− OpEx
−$22.6K −$5.67/SF
NOI
$52.8K $13.24/SF
Area
Oakland County, MI
Vacancy
4.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,055,200
Cap Rate 7%
$753,714
Cap Rate 9%
$586,222
Alternative Uses
Best Use
Multifamily LT 5
$753.7K
$659.5K – $879.3K
NOI $52,760 @ 7.0% cap · market cap 7.04%
Second Best
Apartment 5plus
$698.5K
$611.2K – $814.9K
NOI $48,893 @ 7.0% cap · market cap 6.52%
Theoretical Best
Specialty Retail
$859.7K
$752.3K – $1.00M
NOI $60,182 @ 7.0% cap · market cap 8.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,062
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
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial and multi-family zoning supports a combined residential and business configuration.
Where is this mixed-use property located?
The property is located at 695 Livernois Ferndale, MI.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Three‑unit mixed‑use property; Zoning: Commercial, Multi‑Family, M; Residential and commercial components
