Flex Space with Drive-In
New
For Sale
$775,000
836 Woodward Heights, Ferndale, MI 48220
M1-zoned flex facility combining office space with shop and warehouse areas for industrial, service, storage, or owner-user operations.
Property Size9,101 SF
Lot Size0.29 Acres
Price / SF$85.16
Days on Market2
Property Features for 836 Woodward Heights
General Information
Standard status
Active
Size
9,101 SF
Lot size
0.29 Acres
Zoning
M1
Warehouse & Industrial
Clear Height
15 ft
Drive-In Doors
1
Additional Details
Highway Access
Yes
Building Details
Year Built
1954
Buildings
1
Building Size
9,101 SF
Listing Agency:
Keller Williams Paint Creek
(248) 609-8000
Listed By:
Joseph Delia · License #6501372650
(248) 649-7200
Source:
Charterpropertiesgr
Added: Sep 1
Changed: Sep 2
Last Checked: Sep 2 at 2:24AM
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 Keller Williams Paint Creek
Investment Insights
Based on property information with market context.
This approximately 9,101-square-foot flex property combines office space with functional shop and warehouse areas. The building provides 15-foot clear height, one 10-foot by 12-foot drive-in door, and on-site parking. Constructed in 1954, the facility is being offered as-is and is suited to industrial, contractor, warehouse, service, storage, or owner-user applications supported by its M1 zoning.
The property is located at 836 Woodward Heights in Ferndale, just east of Woodward Avenue. Access is available to Woodward Avenue, I-75, and I-696, with connections to surrounding Metro Detroit communities. The site encompasses approximately 0.29 acres and offers a practical combination of work, storage, and administrative space for business operations.
The property is located at 836 Woodward Heights in Ferndale, just east of Woodward Avenue. Access is available to Woodward Avenue, I-75, and I-696, with connections to surrounding Metro Detroit communities. The site encompasses approximately 0.29 acres and offers a practical combination of work, storage, and administrative space for business operations.
Key Highlights
- Approximately 9,101 SF industrial flex building on approximately 0.29 acres
- 15' clear height supports a range of shop and warehouse functions
- One 10' x 12' drive‑in door
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
$54,755
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
7.07%
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%
$1,095,100
$1.1M
Cap Rate 7%
$782,214
$782.2K
Cap Rate 9%
$608,389
$608.4K
Market Conditions
NOI Build-Up for 9,101 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
$66.9K $7.35/SF
− Vacancy
−$2.5K −$0.27/SF
EGI
$64.4K $7.08/SF
− OpEx
−$9.7K −$1.06/SF
NOI
$54.8K $6.02/SF
Area
Oakland County, MI
Vacancy
3.70%
Lease Rate
$7.35 /SF/Yr
Expense Ratio
15.00%
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%
$1,095,100
Cap Rate 7%
$782,214
Cap Rate 9%
$608,389
Alternative Uses
Best Use
Flex RnD
$1.34M
$1.18M – $1.57M
NOI $94,130 @ 7.0% cap · market cap 12.15%
Second Best
Warehouse
$782.2K
$684.4K – $912.6K
NOI $54,755 @ 7.0% cap · market cap 7.07%
Theoretical Best
Specialty Retail
$1.96M
$1.72M – $2.29M
NOI $137,411 @ 7.0% cap · market cap 17.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
15 ft
Clear height
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,190
Businesses Nearby
Balanced
Demand for This Use
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 Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Got Pho — 172 W Nine Mile Rd, Ferndale, MI 48220
- Hero or Villain Deli: HQ — 22965 Woodward Ave, Ferndale, MI 48220
- Jackson's Five Star Catering — 1111 E 9 Mile Rd, Ferndale, MI 48220
- Cappuccino Man — W Cambourne St, Ferndale, MI 48220
- The Mean Weenie — 524 Woodward Heights, Ferndale, MI 48220
Frequently Asked Questions
What type of property is this?
Flex space - M1-zoned flex facility combining office space with shop and warehouse areas for industrial, service, storage, or owner-user operations.
Where is this flex space located?
The property is located at 836 Woodward Heights Ferndale, MI.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Approximately 9,101 SF industrial flex building on approximately 0.29 acres; 15' clear height supports a range of shop and warehouse functions; One 10' x 12' drive‑in door
