22007 Woodward AveFerndale, MI 48220

Property Details for 22007 Woodward Ave

Year built

1940

Lot size

0.19 AC

Property size (Sq ft)

7,892 SF

Zone code

BI

Property type

Office buildings

APN

24-25-34-251-014

APU

242534251014

Description

This exceptional mixed-use property, located at 22007 Woodward Avenue in Ferndale, Michigan (zip code 48220), offers nearly 9,000 square feet of versatile office space. Ideal for creative or traditional office uses, this building is beautifully maintained and boasts a highly visible location on the iconic Woodward Avenue. The property features multiple private offices, collaborative workspaces, and a welcoming reception area. Amenities include a modern kitchen and recreation space, a unique loft area perfect for meetings or brainstorming, fully appointed restrooms, efficient climate control (AC and forced-air heating), and multiple private entrances. The thoughtfully renovated interior combines modern elegance with practical design, offering unmatched versatility to accommodate various business needs and configurations, from private offices to open-plan workstations. This expansive space allows for significant scalability and potential subleasing opportunities. The property's prime location within Ferndale's thriving business district provides easy access to clients, talent, and a vibrant community. The asking price for this exceptional opportunity is $1,475,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,641,421

  6.5%

  $1,515,158

  7%

  $1,406,932

• Comparable approach

  Method

  Valuation

  Relative Method

  $738,218

  Geo Method

  $738,218

• Alternative Use

  Use

  Valuation

  Residential

  $1,878,796

  Hospitality

  $1,720,966

  Educational

  $1,431,824

  Medical

  $1,481,067

  Retail

  $2,227,282

Location Insight

City

Ferndale

County

Oakland

State

Michigan

Latitude

42.4546

Longitude

-83.1312

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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