Mixed-Use Property with Private
For Sale
$749,900
Pending
695 Livernois Street, Ferndale, MI 48220
Multifamily, 2 Story, Ferndale, MI
Property Size3,186 SF
Lot Size0.10 Acres
Days on Market92
Property Features for 695 Livernois Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Commercial,Multi-Family,M
Bedrooms
5
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 5, Bathroom 5, Bathroom 4, Bathroom 1, Basement, Bedroom 4, Bedroom 1, Bedroom 2, Bathroom 3, Bathroom 2, Bedroom 3
Pets allowed
Yes
Exterior features
Private Entry
Elementary school district
Ferndale
Middle school district
Ferndale
High school district
Ferndale
Directions
N of 8 Mile Rd. & W of Woodward Ave
Subdivision
Ferndale
Standard status
Pending
APN
2533435027
Size
3,186 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Description
T1N, R11E, SEC 33 POAD SUB LOTS 55 & 56, ALSO 1/2 OF VAC ALLEY ADJ TO SAME
Tax Annual Amount
7173
Legal Description
T1N, R11E, SEC 33 POAD SUB LOTS 55 & 56, ALSO 1/2 OF VAC ALLEY ADJ TO SAME
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1942
Floors in Building
2
Number of units
3
Building materials
Brick, Vinyl
Roof type
Asphalt
Architectural style
Other
Listing Agency:
KW Metro · Keller Williams Realty
Listed By:
Alina Valentine
(248) 288-3500
Added: Jun 5
Changed: Sep 2
Last Checked: Sep 4 at 11:06AM
MLS# 20261032761
Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 695 Livernois Street in Ferndale, Michigan, this mixed-use property contains 3,186 square feet on a 0.1-acre parcel. The two-story building was constructed in 1942 and is configured as a tri-unit property with private entry features. Interior room data includes five bedrooms, five bathrooms, and a basement.
The property carries Commercial, Multi-Family, and M zoning. Construction combines brick and vinyl, with asphalt roofing, forced-air heating, central air conditioning, and a public water source. Its mixed-use classification provides a foundation for evaluating residential and commercial occupancy within the existing building.
The property carries Commercial, Multi-Family, and M zoning. Construction combines brick and vinyl, with asphalt roofing, forced-air heating, central air conditioning, and a public water source. Its mixed-use classification provides a foundation for evaluating residential and commercial occupancy within the existing building.
Key Highlights
- 3,186‑square‑foot mixed‑use property on a 0.1‑acre parcel
- Tri‑unit configuration with private entry features
- Commercial,Multi‑Family,M zoning
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
$42,171
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
5.62%
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%
$843,420
$843.4K
Cap Rate 7%
$602,443
$602.4K
Cap Rate 9%
$468,567
$468.6K
Market Conditions
NOI Build-Up for 3,186 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
$63.1K $19.80/SF
− Vacancy
−$2.8K −$0.89/SF
EGI
$60.2K $18.91/SF
− OpEx
−$18.1K −$5.67/SF
NOI
$42.2K $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%
$843,420
Cap Rate 7%
$602,443
Cap Rate 9%
$468,567
Alternative Uses
Best Use
Multifamily LT 5
$602.4K
$527.1K – $702.9K
NOI $42,171 @ 7.0% cap · market cap 5.62%
Second Best
Apartment 5plus
$558.3K
$488.5K – $651.3K
NOI $39,080 @ 7.0% cap · market cap 5.21%
Theoretical Best
Specialty Retail
$687.2K
$601.3K – $801.7K
NOI $48,104 @ 7.0% cap · market cap 6.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick-and-vinyl construction with central air, forced-air heat, and mixed-use zoning supports a flexible commercial-residential configuration.
Where is this mixed-use property located?
The property is located at 695 Livernois Street 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: 3,186‑square‑foot mixed‑use property on a 0.1‑acre parcel; Tri‑unit configuration with private entry features; Commercial,Multi‑Family,M zoning
