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    8888 8 Mile Rd Ferndale, MI 48220

    Sponsored
    For Lease
    $16 SF/Yr

    Prime Royal Oak Retail Opportunity.

    Lot size:
    52,703 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    Royal Town Center, a thriving 52,703 square foot strip center in Royal Oak Township, offers exceptional retail space. Strategically located on heavily trafficked 8 Mile Road (over 70,000 vehicles daily), this center benefits from its position between Ferndale and Oak Park. Built in 1995 and renovated in 2002, the property boasts 16 units and ample parking (450 spaces). Currently, 3,420 square feet of retail space is available, divisible to a minimum of 1,300 square feet and with a maximum contiguous space of 2,210 square feet. The property sits on a substantial 198,070 square foot lot and is zoned C3. Established tenants include Jet's Pizza, AutoZone, and America's Best Contacts & Eyeglasses, ensuring a strong existing customer base and high visibility. This presents a unique opportunity for businesses seeking a prime location within a vibrant and growing community. The property's size and layout offer flexibility for a variety of retail uses. Contact us today to learn more about this exceptional retail investment opportunity.

    Property Features for 8888 8 Mile Rd

    General Information

    Property type
    Neighborhood centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    52,703 SF
    Total Rate
    70270.67

    Building Details

    Year Built/Renovated
    1995/2002

    Unit(s) available at that property

    Space
    Suite 8890
    Size
    2,210 SF
    Rate per SF
    $20
    Space
    8900b
    Size
    1,300 SF
    Rate per SF
    $16

    HighLights

    • Retail strip center totaling 52,703 square feet.
    • Multiple tenancy with 16 units.
    • Available spaces range from 1,300 to 2,210 square feet; 3,420 square feet currently vacant.
    • Located on 8 Mile Road in Royal Oak Township, near Ferndale and Oak Park, with over 70,000 vehicles per day.
    • Features 450 parking spaces.
    • Built in 1995, renovated in 2002.
    Property Profile Location Intelligence

    Current Use by Public Records

    Neighborhood centers

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office 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
    -83.1560199
    Latitude
    42.4465387

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    FAQs

    What type of property is this?
    Neighborhood center - Prime Royal Oak Retail Opportunity.
    Where is this neighborhood center located?
    The property is located at 8888 8 Mile Rd Ferndale, MI.
    What is the lease rate?
    The lease rate is $16-$20 SF/Yr.
    What are key features of this property?
    This property features: Retail strip center totaling 52,703 square feet.; Multiple tenancy with 16 units.; Available spaces range from 1,300 to 2,210 square feet; 3,420 square feet currently vacant.
    Request Owner's contact information
    8888 8 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
    8888 8 Mile Rd Ferndale, MI 48220
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