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    22061 Woodward Ave Ferndale, MI 48220

    Sponsored
    For Sale
    $1,100,000

    Woodward Ave Retail Space - High Traffic

    Property size:
    7,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional retail property, located at 22061 Woodward Avenue in Ferndale, Michigan, presents a unique investment opportunity. The single-story building, constructed in 1980, boasts 7,000 square feet of space spread across the main and lower levels, ideal for a restaurant, bar, or other suitable commercial use. Situated on a 0.12-acre lot, the property benefits from a prime location on Woodward Avenue, a high-traffic area with excellent visibility. Ample parking is provided with 65 on-site spaces, complemented by convenient access to public transportation. The property is zoned BI and features a total of one building. The asking price is $1,100,000, translating to $157.14 per square foot. The property's APN is 25-34-251-010 & 015. This location offers significant potential for a variety of businesses seeking high visibility and convenient access in a thriving commercial district. The property's size, parking availability, and prominent location on Woodward Avenue make it an attractive investment prospect. Don't miss this chance to acquire a well-positioned retail space in the vibrant city of Ferndale.

    Property Features for 22061 Woodward Ave

    General Information

    Property type
    Retail properties
    Square Feet
    7,000 SF
    Lot Size
    5,227 SF

    Building Details

    Year Built
    1980
    Buildings
    1
    Stories
    1

    HighLights

    • $1,100,000 asking price for this 7,000 square foot retail property.
    • Single‑tenant retail building located at 22061 Woodward Ave, Ferndale, MI 48220.
    • High‑traffic location on Woodward Avenue, south of 9 Mile Road, with ample on‑site parking (65 spaces) and public transportation access.
    • 7,000 square feet across main and lower levels, ideal for restaurant/bar or similar use.
    • 0.12‑acre lot with BI zoning.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ferndale
    County
    Oakland
    State
    Michigan
    Longitude
    -83.1315558
    Latitude
    42.4552395

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      22061 Woodward Ave, Ferndale, MI 48220
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    FAQs

    What type of property is this?
    Retail property - Woodward Ave Retail Space - High Traffic
    Where is this retail property located?
    The property is located at 22061 Woodward Ave Ferndale, MI.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: $1,100,000 asking price for this 7,000 square foot retail property.; Single-tenant retail building located at 22061 Woodward Ave, Ferndale, MI 48220.; High-traffic location on Woodward Avenue, south of 9 Mile Road, with ample on-site parking (65 spaces) and public transportation access.
    (248) 359-0647
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    22061 Woodward Ave Ferndale, MI 48220
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    Ferndale, MI 48220
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    22061 Woodward Ave Ferndale, MI 48220
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