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Property profile & analytics
OFF-MARKET
Estimated value
$1,325,000
Office buildings
22840 Woodward Ave, Ferndale, MI 48220-1735
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-0562566
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1929
Total area
13,008 SF
Lot
0.18 ac (7,841 SF)
Zoning code
BI
APN
24-25-27-382-003
UPID
US43-0562566
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.32M
Blend (final)
Blend
$1.33M
Owner & transaction history
22840 Woodward LLC · 1 yrs held
22840 Woodward LLC
since 2024
7 recorded transactions
Zoning & alternative use
BI · Ferndale, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.2M
+48.1%
Restaurant
$1.2M
+48.0%
Neighborhood: shopping center
$985,000
+22.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Ferndale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ferndale submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$800,000
Current use
COMMERCIAL (GENERAL)
$1,190,000
Change: +48% · Conversion: Easy
RESTAURANT
$1,185,000
Change: +48% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$985,000
Change: +23% · Conversion: Difficult
MEDICAL BUILDING
$820,000
Change: +2% · Conversion: Easy
Blend value · Realmo final
$1.33M
Range $1.19M – $1.46M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$102 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$67,932
Tax year 2023
Assessed value
$1,027,460
Assessed 2024
Previous assessed
$962,330
+6.8% YoY
Effective rate
6.61%
On assessed value
Total market value
$2,054,920
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1929
Heating
ZONE
Cooling
YES
Stories
2
Units
1
Total area
13,008 SF
Lot
0.18 ac (7,841 SF)
Zoning code
BI
APN
24-25-27-382-003
UPID
US43-0562566
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
BI · Ferndale, MI
Zoning BI · permitted uses
BI · Ferndale, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ferndale. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$800,000
COMMERCIAL (GENERAL)
Est. value
$1.2M
RESTAURANT
Est. value
$1.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$985,000
MEDICAL BUILDING
Est. value
$820,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1929
Heating
ZONE
Cooling
Yes
Stories
2
Units
1
Lot
0.18 ac
Current owner
From public records · entity-resolved
22840 Woodward LLC
Entity
Mailing address
150 W VESTER ST #304, FERNDALE, MI 48220-2980
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 30, 2024
—
22840 Woodward LLC
—
Deed
related
$787,000 · Great Lakes Commercial Finance
Aug 23, 2024
—
22840 Woodward LLC
Vester Propco LLC
Warranty Deed
—
Aug 21, 2024
—
Woodward LLC
—
Deed
related
$762,000 · Bank Of Ann Arbor
Dec 20, 2022
—
Vester Propco LLC
Tercam Holdings LLC
Warranty Deed
$3,200,000 · Capital Management LLC
May 7, 2013
$1,400,000
Tercam Holdings LLC
Trio Partners-ferndale LLC
Grant Deed
$1,606,000 · First Independence Bank
Mar 30, 2011
—
Trio Partners-ferndale LLC
Citizens Bk
Quit Claim Deed
related
—
Jun 7, 2010
$1,200,000
Citizens Bk
Sheriff Of Oakland County
Trustees Deed
related
—
Nov 3, 2004
—
Ogg Partners I LLC
Cheshire Group LLC
Grant Deed
$2,175,000 · Citizens Federal Bank Fsb
Nov 2, 1998
—
Cheshire Group LLC
Comerica Bank
Trustees Deed
related
—
—
—
Cheshire Group LLC
—
Deed Of Trust
related
$396,000 · Oakland County Business Financ
—
—
Cheshire Group LLC
—
Deed Of Trust
related
$810,000 · N B D Bank NA
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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