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    600-644 Vester St Ferndale, MI 48220

    Sponsored
    For Sale
    Contact for pricing

    0.91 Acres, Mixed-Use Potential, 100+ Units

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 0.91-acre parcel presents a rare development opportunity in the thriving city of Ferndale, Michigan. Located at 600-644 Vester Street, in Oakland County, zip code 48220 (42.4612423, -83.1258831), this property is zoned for both residential and commercial use, offering unparalleled flexibility for a mixed-use project. Preliminary city planning concepts are already in place, streamlining the development process and reducing potential hurdles. The expansive lot size allows for the potential construction of up to 100 residential units, catering to the high demand for housing in this vibrant area. The strategic location within Ferndale provides easy access to major transportation routes, local amenities, and a thriving community. This is an exceptional chance to capitalize on the growing market and create a landmark development. The property's versatility makes it ideal for a variety of projects, from multi-family residential to a mixed-use development incorporating retail or commercial spaces. Serious inquiries are encouraged to explore the full potential of this remarkable land opportunity. The site is ready for immediate development, offering a significant advantage to investors seeking a quick return on investment. Don't miss this chance to acquire a truly unique and valuable piece of Ferndale real estate.

    Property Features for 600-644 Vester St

    General Information

    Property type
    Land
    Lot Size
    39,640 SF

    HighLights

    • Exceptional Investment Opportunity
    • Potential for 100 Residential Units
    • City Planning Concepts Under Review
    • Mixed‑Use Development Potential
    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
    -83.1258831
    Latitude
    42.4612423

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    FAQs

    What type of property is this?
    Land - 0.91 Acres, Mixed-Use Potential, 100+ Units
    Where is this land located?
    The property is located at 600-644 Vester St Ferndale, MI.
    What are key features of this property?
    This property features: Exceptional Investment Opportunity; Potential for 100 Residential Units; City Planning Concepts Under Review
    (248) 331-0203
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    600-644 Vester St 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
    600-644 Vester St Ferndale, MI 48220
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