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Financial
Distress signals
Property profile

1551 Academy St Ferndale, MI 48220

OFF-MARKET
Warehouses
Property ID
US43-1298797
46,684 SF 1.52 ac lot Built 1970
Last sale Nov 2020
Entity Owned Owner of record is a legal entity (LLC / corporation). 5-yr Hold Held for 5 years. Absentee Owner Owner mailing address differs from the property address. ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
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Property summary

AI-generated overview

This exceptional investment opportunity presents a fee-simple interest in a 49,630-square-foot industrial distribution building located at 1551 Academy St, Ferndale, MI 48220. The property, built in 1985 and renovated in 2020, sits on a 1.52-acre lot and is currently 100% occupied by Gage, a prominent cannabis operator, under an absolute NNN lease with zero landlord responsibilities. The lease, commencing September 23, 2020, and expiring September 30, 2030, has a remaining term of…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2023

What does the county charge?
$60k
Tax billed · 2023
Assessed value · 2024$968k
Effective rate6.19%

Value estimate

· Oct 2026
$610k
$549k – $671k
Submarket $/SF estimate$2.76M

Realmo valuation models over county records.

Recently sold

What actually traded nearby?
$76/SF
County average, outlier-cleaned · 180 recorded sales of this use type
Observed band · Q1–Q3$48 – $129

Cap rate analysis

How does the asset earn?

No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.

Zoning insight

What can be built here?
II
JurisdictionOAKLAND

Location intelligence

Which uses thrive at this corner?
Best fit: Realty agency
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Realty agency58.6
Law Firm38.9
Restaurant34.4

Location

1551 Academy St Ferndale, MI 48220-2001
County assessor Recorded deeds · 8 transfers Qualifying comp sales · not on file Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 18 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
2400 Gainsboro, Ferndale, MI 48220 $4,000,000 Dec 2023 63,353 SF
2330 Gainsboro, Ferndale, MI 48220-1330 $4,000,000 Dec 2023 63,353 SF
10811 Northend, Ferndale, MI 48220-2162 $1,550,000 Dec 2022 34,340 SF
2335 Goodrich, Ferndale, MI 48220-1440 $1,000,000 Oct 2022 27,008 SF
915 Drayton, Ferndale, MI 48220-1409 $1,875,000 Feb 2022 18,005 SF
520 8th Mile, Ferndale, MI 48220-2440 $50,000 Oct 2021 20,817 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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