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Property profile & analytics
OFF-MARKET
Estimated value
$815,000
Outlet malls
8888 8th Mile Rd, Ferndale, MI 48220-2262
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1569638
Property summary
AI-generated overview
Royal Town Center, a thriving 52,703 square foot strip center in Royal Oak Township, offers exceptional retail space. Strategically located on heavily trafficked 8 Mile Road (over 70,000 vehicles daily), this center benefits from its position between Ferndale and Oak Park. Built in 1995 and renovated in 2002, the property boasts 16 units and ample parking (450 spaces). Currently, 3,420 square feet of retail space is available, divisible to a minimum of 1,300 square feet and with a maximum contiguous space of 2,210 square feet. The property sits on a substantial 198,070 square foot lot and is zoned C3. Established tenants include Jet's Pizza, AutoZone, and America's Best Contacts & Eyeglasses, ensuring a strong existing customer base and high visibility. This presents a unique opportunity for businesses seeking a prime location within a vibrant and growing community. The property's size and layout offer flexibility for a variety of retail uses. Contact us today to learn more about this exceptional retail investment opportunity.
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1998
Total area
7,412 SF
Lot
1.27 ac (55,321 SF)
Zoning code
BI
APN
S -25-33-380-041
UPID
US43-1569638
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
$813k
Blend (final)
Blend
$815k
Owner & transaction history
Royal Town Enterprise LLC · 2 yrs held
Royal Town Enterprise LLC
since 2023
4 recorded transactions
Zoning & alternative use
BI · Ferndale, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
RETAIL STORES
$1,310,000
Current use
Blend value · Realmo final
$815k
Range $734k – $897k · ±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
$110 / 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
$18,376
Tax year 2023
Assessed value
$302,280
Assessed 2024
Previous assessed
$292,500
+3.3% YoY
Effective rate
6.08%
On assessed value
Total market value
$604,560
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1998
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
7,412 SF
Lot
1.27 ac (55,321 SF)
Zoning code
BI
APN
S -25-33-380-041
UPID
US43-1569638
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
RETAIL STORES Current
Est. value
$1.3M
RETAIL STORES Current
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
1998
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
1.27 ac
Current owner
From public records · entity-resolved
Royal Town Enterprise LLC
Entity
Mailing address
27600 NORTHWESTERN HWY STE #200, SOUTHFIELD, MI 48034-8466
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 31, 2023
—
Royal Town Enterprise LLC
Royal Town Center LLC
Intrafamily Transfer
related
$16,000,000 · Argentic Real Estate Finance 2 LLC
Sep 18, 2003
—
Royal Town Center LLC
—
Deed Of Trust
related
$5,459,727 · Flagstar Bank Fsb
Jun 1, 1998
—
Royal Town Center LLC
Charter Township Of Royal Oak
Quit Claim Deed
related
—
—
—
Royal Town Center LLC
—
Deed Of Trust
related
$620,027 · Flagstar Bank Fsb
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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