Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2321 Wolcott St Ferndale, MI 48220-1420
    Back to Search
    Property profile & analytics

    2321 Wolcott St Ferndale, MI 48220-1420

    View on Map
    • Warehouses
    • 5,630 SF
    • 0.28 lot acres
    Off-Market
    Last Sale Jan 9, 2020
    Property ID
    US43-0998568
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 2321 Wolcott St

    Year built
    1960
    Lot size
    0.28 lot acres
    Property size
    5,630 SF
    Zone code
    II
    Property type
    Warehouses
    APN
    24-25-27-430-007
    APU
    242527430007

    Description

    This exceptional 1,980-square-foot retail space is ideally situated at 2321 Wolcott Street in Ferndale, Michigan, within Oakland County. Currently vacant and ready for immediate occupancy, this single-tenant property presents a fantastic opportunity for a variety of businesses. The building's total square footage is 1,980 square feet, offering ample space for retail operations, display, and storage. The property is zoned M-1 Limited Industrial District, providing flexibility for certain commercial uses. Its convenient location in Ferndale offers excellent visibility and accessibility for customers. The address is 2321 Wolcott Street, Ferndale, MI 48220. This property is perfect for a business seeking a well-located, spacious, and immediately available retail space in a thriving Michigan community. The property is easily accessible and benefits from high traffic volume in the area. The single-tenant occupancy ensures complete control and customization of the space to meet specific business needs. Serious inquiries are encouraged to explore this prime retail opportunity. The property is available for lease and offers a blank canvas for a new business venture. This is a unique chance to establish a presence in a dynamic and growing market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Ferndale
    County
    Oakland
    State
    Michigan
    Longitude
    -83.1275
    Latitude
    42.4653
    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
    $6,541
    $0.00
    $0.00
    $114,160
    -
    $0.00
    $0.00
    $228,320

    Comparable in this City

    • Value Estimation
      $640,000
      12,390 SF

      1360 8th Mile Rd

      WAREHOUSE, STORAGE • 12,390 SF
      1360 8th Mile Rd, Ferndale, MI 48220-2340
      View Details
    • Value Estimation by Request
      7,056 SF

      686 Livernois St

      WAREHOUSE, STORAGE • 7,056 SF
      686 Livernois St, Ferndale, MI 48220-2304
      View Details
    • Value Estimation
      $700,000
      18,871 SF

      Ferndale, MI 48220

      WAREHOUSE, STORAGE • 18,871 SF
      Ferndale, MI 48220
      View Details
    • Value Estimation
      $815,000
      15,809 SF

      1135 9th Mile Rd

      WAREHOUSE, STORAGE • 15,809 SF
      1135 9th Mile Rd, Ferndale, MI 48220-1936
      View Details
    • Value Estimation
      $875,000
      16,986 SF

      2660 Burdette St

      WAREHOUSE, STORAGE • 16,986 SF
      2660 Burdette St, Ferndale, MI 48220-1465
      View Details
    • Value Estimation
      $3,240,000
      62,715 SF

      3101 Bermuda St

      WAREHOUSE, STORAGE • 62,715 SF
      3101 Bermuda St, Ferndale, MI 48220-1060
      View Details

    Similar Nearby for Sale

    • $4,500,000
      57,031 SF

      Ferndale Warehouse with Gated Parking

      Warehouse with gated parking, convenient access to I-75.
      1640-1700 E Nine Mile Rd, Ferndale, MI 48220
      View Details
    • $995,000
      4,340 SF

      Ferndale Industrial Building For Sale

      High-Visibility Woodward Ave. Industrial Space
      23365 Woodward St, Ferndale, MI 48220
      View Details
    • $1,100,000
      11,200 SF

      Ferndale Industrial Property for Sale

      Industrial property available for purchase in Ferndale, Michigan.
      930 E Drayton St, Ferndale, MI 48220
      View Details
    • $1,399,999
      9,374 SF

      Ferndale Industrial Investment Opportunity

      Multi-unit building, high rental income, low maintenance.
      624 Livernois St, Ferndale, MI 48220
      View Details
    • $1,100,000

      Ferndale Industrial Building with Cranes

      11,200 SF industrial building with cranes and outside storage.
      930 East Drayton St, Ferndale, MI 48220
      View Details
    • Contact for pricing

      Land Development Opportunity

      Land available for development in Ferndale, Michigan.
      600-644 Vester St, Ferndale, MI 48220
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Industrial Warehouse Space Available

      Industrial warehouse space for rent in Ferndale, Michigan.
      10500 8 Mile Rd, Ferndale, MI 48220
      View Details
    • $8 SF/Yr
      10,500 SF

      High-End Industrial/Flex Building For Rent

      10,500 SF industrial/flex building with warehouse and office space.
      930 E Lewiston Ave, Ferndale, MI 48220
      View Details
    • $5,000 /Mo

      Ferndale Warehouse with Renovated Office

      Light industrial building for lease with renovated office space.
      1521 E 8 Mile Rd, Hazel Park, MI 48220
      View Details
    • Contact for pricing

      Ferndale Warehouse with Renovated Office

      Light industrial building with renovated office space for lease.
      1521 8 Mile Rd W, Ferndale, MI 48220
      View Details
    • $5,000 /Mo
      7,020 SF

      Fenton Light Industrial Building

      Renovated warehouse with office, high ceilings, and ample parking.
      1521 E Eight Mile Rd, Fenton, MI 48220
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2321 Wolcott St
    Ferndale, MI 48220-1420
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2321 Wolcott St, Ferndale, MI, 48220
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!