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    345 Nine Mile Rd Ferndale, MI 48220

    Sponsored
    For Sale
    $1,890,000

    11,028 SF Restaurant/Bar/Office - $1.89M

    Property size:
    11,028 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 11,028 square foot mixed-use property, located at 345 E Nine Mile Rd in Ferndale, Michigan, presents a unique investment opportunity. Built in 1950 and extensively renovated in 2016, this two-story building boasts a prime corner location within a thriving redevelopment area. The property is zoned CBD (Central Business District) and includes 27 parking spaces on a 0.55-acre lot. The versatile space currently functions as a vacant restaurant/bar with a separate music venue, offering significant potential for various uses. The sale includes existing furniture, fixtures, and equipment. Interested parties should contact the City of Ferndale directly for details regarding the liquor license transfer. The property's strategic location, coupled with its recent renovations and ample parking, makes it an ideal investment for savvy entrepreneurs seeking a high-visibility location in a rapidly growing area. The property's APN is 25-27-454-037. This is a rare opportunity to acquire a substantial mixed-use property in a highly desirable location within Oakland County, Michigan, zip code 48220. The surrounding area features new loft condos, office spaces, and retail establishments, ensuring a vibrant and growing customer base.

    Property Features for 345 Nine Mile Rd

    General Information

    Property type
    Restaurants
    Square Feet
    11,028 SF
    Lot Size
    23,958 SF

    Building Details

    Year Built/Renovated
    1950/2016
    Stories
    2

    HighLights

    • 11,028 SF mixed‑use building on a 0.55‑acre lot with 27 parking spaces.
    • Prime corner location in Ferndale, MI's thriving CBD redevelopment area.
    • Includes FF&E; liquor license transfer details available from City of Ferndale.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bars

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Ferndale
    County
    Oakland
    State
    Michigan
    Longitude
    -83.1303723
    Latitude
    42.4609723

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    FAQs

    What type of property is this?
    Restaurant - 11,028 SF Restaurant/Bar/Office - $1.89M
    Where is this restaurant located?
    The property is located at 345 Nine Mile Rd Ferndale, MI.
    What is the asking price?
    The asking price for this property is $1,890,000.
    What are key features of this property?
    This property features: 11,028 SF mixed-use building on a 0.55-acre lot with 27 parking spaces.; Prime corner location in Ferndale, MI's thriving CBD redevelopment area.; Includes FF&E; liquor license transfer details available from City of Ferndale.
    Request Owner's contact information
    345 Nine Mile Rd 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
    345 Nine Mile Rd Ferndale, MI 48220
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