1120 Nine Mile Rd Ferndale, MI 48220
- Commercial real estate
- 0.36 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 1120 Nine Mile Rd
- Lot size
- 0.36 lot acres
- Property type
- Commercial real estate
Description
This exceptional 0.36-acre parcel in Ferndale, Michigan, presents a lucrative investment opportunity. Located at 1120 E 9 Mile Rd, in Oakland County, zip code 48220 (42.4607238, -83.119648), this property is zoned for multi-family use and boasts a pre-approved site plan for a 19-unit apartment building incorporating first-floor retail space. The strategic location offers unparalleled convenience, situated less than one mile from Ferndale's vibrant downtown core. This prime location ensures high occupancy rates and strong rental income potential. The asking price is $729,000, and the seller is open to considering land contract terms, making this an accessible entry point for investors. The property is privately owned and is classified as both commercial and residential land. This is a rare chance to acquire a fully permitted development site in a thriving Michigan community, poised for significant returns. The property's approved site plan streamlines the development process, minimizing delays and maximizing efficiency. Don't miss this opportunity to capitalize on the growing demand for rental housing in this desirable area. This is a turnkey project ready for immediate development.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Ferndale
- County
- Oakland
- State
- Michigan
- Longitude
- -83.119648
- Latitude
- 42.4607238
