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    345 Nine Mile Rd Ferndale, MI 48220

    • Turn key restaurants
    • 9,249 SF
    • 0.55 lot acres
    For Sale
    View listing
    $1,890,000
    Value Estimation
    Last Sale
    Feb 20, 2024
    $650,000
    Location Intelligence
    Property ID
    US43-1146843
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Turn key restaurants

    Property Details for 345 Nine Mile Rd

    Year built
    1950
    Lot size
    0.55 lot acres
    Property size
    9,249 SF
    Zone code
    ME
    Property type
    Turn key restaurants
    APN
    24-25-27-454-037
    APU
    242527454037

    Description

    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.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $650,000

    • CAP approach

      CAP return
      Estimation
      6%
      $730,000
      6.5%
      $710,000
      7%
      $815,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $630,000
      Geo Method
      $750,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $820,000
      Retail
      $865,000
      Mixed-Use
      $785,000
      Hospitality
      $710,000
      Educational
      $910,000
      Residential Income
      $740,000
      Energy
      $870,000
      Income-Based Land
      $940,000
      Food Service
      $915,000

    Location Insight

    • Map
    • Local Demand
    City
    Ferndale
    County
    Oakland
    State
    Michigan
    Longitude
    -83.1306
    Latitude
    42.461
    CBSA code
    19820
    CBSA name
    DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $44,286
    $0.00
    $0.00
    $952,780
    -
    $0.00
    $0.00
    $1,905,560

    Comparable in this City

    • Value Estimation by Request
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      567 Livernois St

      RESTAURANT • 9,984 SF
      567 Livernois St, Ferndale, MI 48220-2984
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      22848 Woodward Ave

      RESTAURANT • 2,166 SF
      22848 Woodward Ave, Ferndale, MI 48220-1735
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    • Value Estimation by Request
      1,383 SF

      1861 9th Mile Rd

      RESTAURANT • 1,383 SF
      1861 9th Mile Rd, Ferndale, MI 48220-2063
      View Details
    • Value Estimation
      $870,000
      3,540 SF

      22736 Woodward Ave

      RESTAURANT • 3,540 SF
      22736 Woodward Ave, Ferndale, MI 48220-1734
      View Details
    • Value Estimation by Request
      3,486 SF

      22910 Woodward Ave

      RESTAURANT • 3,486 SF
      22910 Woodward Ave, Ferndale, MI 48220-1737
      View Details

    Similar Nearby for Sale

    • $1,890,000
      11,028 SF

      Prime Ferndale Mixed-Use Property

      11,028 SF Restaurant/Bar/Office - $1.89M
      345 Nine Mile Rd, Ferndale, MI 48220
      View Details
    • $1,150,000
      7,206 SF

      Retail Property in Ferndale, MI

      Retail property available for sale in Ferndale, Michigan.
      22061 Woodward Ave, Ferndale, MI 48220
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    • $475,000
      2,644 SF

      Freestanding Retail Building in Ferndale

      2,644 SF retail building on 0.19-acre lot near downtown.
      1805 E 9 Mile Rd, Ferndale, MI 48220
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    • $925,000
      3,186 SF

      Mixed-Use Property in Ferndale, MI

      Multi-unit property with mixed-use zoning in a spirited neighborhood.
      695 Livernois St, Ferndale, MI 48220
      View Details
    • $1,100,000
      7,000 SF

      Ferndale Retail Investment Opportunity

      Woodward Ave Retail Space - High Traffic
      22061 Woodward Ave, Ferndale, MI 48220
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    • $295,000
      1,710 SF

      Renovated Office/Retail Space in Ferndale

      Recently renovated office/retail space with dedicated parking and highway access.
      1915 E 9 Mile Rd, Ferndale, MI 48220
      View Details

    Similar Nearby for Lease

    • $28 SF/Yr
      1,354 SF

      Turnkey Bakery Space on Woodward

      Bakery space for sublease with equipment included and ample parking.
      23123-23141 Woodward Ave, Ferndale, MI 48220
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    • $14 SF/Yr
      26,645 SF

      Ferndale Center Retail Space Available

      Prime Ferndale retail space, multiple units.
      22304 Woodward Ave, Ferndale, MI 48220
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    • $28 SF/Yr
      1,399 SF

      Downtown Ferndale Bar/Restaurant Space

      Bar/restaurant space with a liquor license in downtown Ferndale.
      22824 Woodward Ave, Ferndale, MI 48220
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    • $16 SF/Yr
      52,703 SF

      Royal Town Center Retail Space

      Prime Royal Oak Retail Opportunity.
      8888 8 Mile Rd, Ferndale, MI 48220
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    • Contact for pricing

      Ferndale Commercial Property For Rent

      Commercial property available for rent in Ferndale, Michigan.
      368-374 Hilton Rd, Ferndale, MI 48220
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    • $14 SF/Yr
      1,850 SF

      Retail Space in Shopping Center

      Retail space available within a neighborhood shopping center.
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    345 Nine Mile Rd
    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
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