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    Property profile & analytics
    OFF-MARKET Estimated value $575,000
    Individual retail properties

    513 9th Mile Rd, Ferndale, MI 48220-1798

    3,114 SF 0.07 ac lot Built 1924
    Individually Owned 21-yr Hold Absentee Owner ~ Est. High Equity
    Property ID
    US43-1313221
    Property summary
    AI-generated overview

    This exceptional 1,800 square foot retail space is available for lease in the vibrant heart of downtown Ferndale, Michigan. Situated on the south side of West Nine Mile Road, just west of Woodward Avenue, this single-tenant property offers unparalleled visibility and accessibility. Previously occupied by a hair salon, the space is located within a two-story building in the Central Business District (CBD), benefiting from the high foot traffic and bustling atmosphere of Ferndale's thriving commercial core. The property features convenient street parking, a significant advantage for both customers and employees. Building signage is available, providing excellent opportunities for branding and visibility. The location is surrounded by a diverse range of restaurants and retailers, creating a synergistic environment that fosters strong customer engagement and foot traffic. This prime retail space presents a unique opportunity for businesses seeking a high-profile location in a dynamic and desirable area. The space is ready for immediate occupancy and offers a blank canvas for a variety of retail concepts. Its central location and ample street parking make it an ideal choice for businesses seeking maximum exposure and convenience. The property's zoning designation as CBD ensures compatibility with a wide range of retail uses.

    Property profile
    Verified
    Property type Individual retail properties
    Use group BARBER, HAIR SALON
    Year built 1924
    Total area 3,114 SF
    Lot 0.07 ac (3,049 SF)
    Zoning code BI
    APN 24-25-34-102-051
    UPID US43-1313221
    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
    $591k
    Blend (final) Blend
    $575k
    Owner & transaction history
    Michael L Lee
    Michael L Lee
    1 recorded transaction
    1969
    Zoning & alternative use
    BI · Ferndale, MI
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Retail stores $550,000 +9.6%
    Commercial (general) $550,000 +9.4%
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