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Financial
Distress signals
Property profile

8918 West 8 Mile Rd Ferndale, MI 48220

FOR LEASE
Outlet malls
Property ID
US43-1569638
7,412 SF 1.27 ac lot Built 1998
Last sale Jul 2023
Entity Owned Owner of record is a legal entity (LLC / corporation). 3-yr Hold Held for 3 years. Absentee Owner Owner mailing address differs from the property address. ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
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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…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2023

What does the county charge?
$18k
Tax billed · 2023
Assessed value · 2024$302k
Effective rate6.08%

Value estimate

· Oct 2026
$270k
$243k – $297k
Submarket $/SF estimate$813k
NOI build-up
Gross scheduled income$885k
Vacancy & credit loss−$75k
Operating expenses−$243k
NOI · 3,150,583.33% cap applied$567k

Realmo valuation models over county records and 10 qualifying comparable sales.

Recently sold

What actually traded nearby?
$176/SF
ZIP average, outlier-cleaned · 30 recorded sales of this use type
Observed band · Q1–Q3$103 – $236
Qualifying comparables10

Cap rate analysis

How does the asset earn?
3,150,583.33%
$567k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
BI
JurisdictionOAKLAND

Location intelligence

Which uses thrive at this corner?
Best fit: Law Firm
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Law Firm21.7
Realty agency19.6
Dental Office15.4

Location

8918 West 8 Mile Rd Ferndale, MI 48220
County assessor Recorded deeds · 4 transfers 10 qualifying comp sales Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

1 recorded sale · 16 properties nearby
Recent sales nearby
1 recorded sale in this ZIP, last 8 years
Address Sale price Sold Size
1300 9th Mile, Ferndale, MI 48220-2018 $3,200,000 Dec 2021 8,160 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
5 properties of the same type nearby
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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