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    22304 Woodward Ave Ferndale, MI 48220

    Sponsored
    For Lease
    $14 SF/Yr

    Prime Ferndale retail space, multiple units.

    Lot size:
    26,645 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Ferndale Center offers exceptional retail opportunities in a vibrant Detroit location. This multi-tenant property boasts a total of 26,645 square feet, with two immediately available spaces totaling 15,245 square feet. One space comprises 10,945 square feet, previously occupied by a Rite Aid, presenting a significant opportunity for a large-scale retailer or adaptable tenant. A second, 4,300-square-foot space is available on the second floor, ideal for a variety of uses. The property's strategic location offers unparalleled access to a thriving customer base, situated minutes from the new 350,000-square-foot Meijer-anchored Gateway Marketplace retail development. Further enhancing its appeal are nearby popular destinations such as the Woodward Avenue Brewery, The Rust Belt Market, and The Emory. This prime location ensures high visibility and foot traffic. A significant advantage is the inclusion of four dedicated parking areas for tenants—a rare and highly desirable feature along the Woodward Corridor. The property also features two billboards, providing excellent opportunities for advertising and brand visibility. This is a unique opportunity to establish a presence in a dynamic and rapidly growing area of Detroit. Contact us today to learn more about leasing options and explore the potential of this exceptional retail property.

    Property Features for 22304 Woodward Ave

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    26,645 SF
    Total Rate
    31640.94

    Unit(s) available at that property

    Space
    Former Rite Aid
    Size
    10,945 SF
    Rate per SF
    $14
    Space
    Second Floor
    Size
    4,300 SF

    HighLights

    • Retail property totaling 26,645 square feet.
    • Multiple tenancy with 4,300 square feet currently vacant.
    • Two available spaces ranging from 4,300 to 10,945 square feet.
    • Located near Gateway Marketplace (350,000 SF Meijer‑anchored center) and other popular Detroit attractions.
    • Features four dedicated tenant parking areas.
    • Includes two billboards.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Ferndale
    County
    Oakland
    State
    Michigan
    Longitude
    -83.13174889
    Latitude
    42.45688259

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    FAQs

    What type of property is this?
    Restaurant - Prime Ferndale retail space, multiple units.
    Where is this restaurant located?
    The property is located at 22304 Woodward Ave Ferndale, MI.
    What is the lease rate?
    The lease rate is $0.00-$14 SF/Yr.
    What are key features of this property?
    This property features: Retail property totaling 26,645 square feet.; Multiple tenancy with 4,300 square feet currently vacant.; Two available spaces ranging from 4,300 to 10,945 square feet.
    Request Owner's contact information
    22304 Woodward Ave 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
    22304 Woodward Ave Ferndale, MI 48220
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