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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    695 Livernois St Ferndale, MI 48220

    • Commercial real estate
    • 3,986 SF
    For Sale
    View listing
    $925,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-4787472
    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.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 695 Livernois St

    Year built
    1942
    Property size
    3,986 SF
    Property type
    Commercial real estate
    APN
    24-25-33-435-027

    Description

    This exceptional Class A, mixed-use apartment building presents a unique investment opportunity in the vibrant heart of Ferndale, Michigan. The property, built in 1942 and renovated in 2001, boasts 3 units across 2 stories, totaling 3,986 square feet. Each unit enjoys 4 parking spaces. The asking price is $875,000, representing a price per square foot of $219.52 and a price per unit of $291,666.67. The property's strong financial performance is reflected in its impressive Net Operating Income (NOI) of $87,705, yielding a 10.02% capitalization rate. Located at 695 Livernois St, Ferndale, MI 48220 (APN 24-25-33-435-027), this property is zoned Mixed Use 2, providing significant flexibility for diverse commercial ventures. The building's prime location in Downtown Ferndale offers unparalleled access to local amenities and a thriving community. This is an ideal opportunity for owner-users seeking a live/work arrangement, or investors looking for a high-yield property with significant upside potential. Land contract terms are available. Highest and best offers are due September 15, 2024, at 5 PM.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Ferndale
    County
    Oakland
    State
    Michigan
    Longitude
    -83.1429792
    Latitude
    42.4519757

    Comparable in this City

    • $315,000

      Ferndale Duplex Near Downtown

      Well-kept duplex with long-term tenants in excellent location.
      853 Le Roy St, Ferndale, MI 48220
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    • $925,000
      3,986 SF

      Mixed-Use Property in Ferndale, MI

      Multi-unit property with residential and commercial opportunity in Ferndale.
      695 Livernois St, Ferndale, MI 48220
      View Details
    • $925,000
      3,186 SF

      Mixed-Use Property in Ferndale, MI

      Multi-unit property with mixed-use zoning in a spirited neighborhood.
      695 Livernois St, Ferndale, MI 48220
      View Details
    • $560,000

      Ferndale Four-Unit Multifamily Property

      Four-unit property in desirable Ferndale location with parking.
      223 E Oakridge St, Ferndale, MI 48220
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      0.91 Acres

      Ferndale Land: Prime Development Site

      0.91 Acres, Mixed-Use Potential, 100+ Units
      600-644 Vester St, Ferndale, MI 48220
      View Details
    • $729,000
      0.36 Acres

      Ferndale Multifamily Development Land

      19-Unit Apartment Site, Retail Space
      1120 Nine Mile Rd, Ferndale, MI 48220
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    Similar Nearby for Sale

    • $315,000

      Ferndale Duplex Near Downtown

      Well-kept duplex with long-term tenants in excellent location.
      853 Le Roy St, Ferndale, MI 48220
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    • $925,000
      3,986 SF

      Mixed-Use Property in Ferndale, MI

      Multi-unit property with residential and commercial opportunity in Ferndale.
      695 Livernois St, Ferndale, MI 48220
      View Details
    • $925,000
      3,186 SF

      Mixed-Use Property in Ferndale, MI

      Multi-unit property with mixed-use zoning in a spirited neighborhood.
      695 Livernois St, Ferndale, MI 48220
      View Details
    • $560,000

      Ferndale Four-Unit Multifamily Property

      Four-unit property in desirable Ferndale location with parking.
      223 E Oakridge St, Ferndale, MI 48220
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      0.91 Acres

      Ferndale Land: Prime Development Site

      0.91 Acres, Mixed-Use Potential, 100+ Units
      600-644 Vester St, Ferndale, MI 48220
      View Details
    • $729,000
      0.36 Acres

      Ferndale Multifamily Development Land

      19-Unit Apartment Site, Retail Space
      1120 Nine Mile Rd, Ferndale, MI 48220
      View Details

    Similar Nearby for Lease

    • $800 /Mo
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      Lower-level studio near downtown Ferndale, move-in ready.
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    • $9 SF/Yr
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      Ferndale Warehouse: 16,000 SF Available

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      Royal Town Center Retail Space

      Prime Royal Oak Retail Opportunity.
      8888 8 Mile Rd, Ferndale, MI 48220
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    • $18 SF/Yr
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      Creative Space in Livernois Corridor

      Creative space available for lease in the Livernois Creative Corridor.
      359 Livernois St, Ferndale, MI 48220
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    • Contact for pricing

      Ferndale Commercial Property For Rent

      Commercial property available for rent in Ferndale, Michigan.
      368-374 Hilton Rd, Ferndale, MI 48220
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    • $1,995 /Mo
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      Downtown Ferndale Office Loft

      Second floor office loft in downtown Ferndale with natural light.
      200 West 9 Mile Rd, Ferndale, MI 48220
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    Ferndale, MI 48220
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    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
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