22840 Woodward Avenue

Ferndale, MI 48220

Listing ID: 197527

$4,000,000

For Sale

Property Type Office : Professional
Lot Size Acres 0.670
Building Sq Ft 14,700
Building Price per Sq Ft $272.11
Land Sq Ft 29,185
Land Price per Sq Ft $137.06

22840 Woodward Avenue Ferndale, MI 48220 - main image

Description

Description
This 14,700 SF two-story office building is located on Woodward Avenue just north of 9 Mile Rd, in the Epicenter of Ferndale! The interior of the property has numerous amenities and desirable features to support thriving business operations and is large enough for social distancing measures. Each floor features a large open area with a kitchenette and lounge/sitting area, private offices, a conference room, and two restrooms. The property sees daily traffic counts of 57,000 vehicles per day and is located in between some of Ferndale's most popular restaurants and entertainment venues.
The 0.67-acre 24-hour parking lot is conveniently located right off of Vester Ave in Ferndale. The lot is an excellent investment opportunity as it produces a net monthly income of $14,000. This property can be developed with a three-story structure under current zoning. Financial details will be provided to qualified buyers.
Highlights
Two-story 14,700 SF office building investment & 0.67-acre parking lot
Attractive offices w/ kitchenette on both floors
Ample office environment allows for social distancing
Located just 200 ft north of 9 Mile & Woodward - the epicenter of Ferndale!
57,000+ Vehicles per day

Attachments & Files

newsalebrochure-1-RVW-nIO.pdf

Listing Demographics

All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

		1-Mile	3-Miles	5-Miles
Total Population		16,939	148,846	394,122
Population Median Age		39	39	39
Population by Age	0-9 Yrs	1195 (7%)	14498 (9%)	44727 (11%)
	10-19 Yrs	912 (5%)	15976 (10%)	44709 (11%)
	20-29 Yrs	3852 (22%)	25893 (17%)	63461 (16%)
	30-39 Yrs	3843 (22%)	23450 (15%)	54477 (13%)
	40-49 Yrs	1996 (11%)	18351 (12%)	48464 (12%)
	50-59 Yrs	2407 (14%)	19784 (13%)	51929 (13%)
	60-69 Yrs	1554 (9%)	16612 (11%)	44902 (11%)
	70+ Yrs	1180 (6%)	14282 (9%)	41454 (10%)

Median HH Income		$76,425	$56,460	$48,916
Total Household Income	< 24K	1116 (13%)	15031 (22%)	44254 (26%)
	25-49K	1533 (18%)	14755 (22%)	39508 (23%)
	50-74K	1488 (17%)	10944 (16%)	28646 (17%)
	75-99K	1505 (17%)	8542 (12%)	18593 (11%)
	100-199K	2355 (27%)	12939 (19%)	27505 (16%)
	200K+	448 (5%)	3545 (5%)	6153 (3%)

Highest Education Level	No Diploma	532	8804	29600
	Diploma or GED	1883	24497	75135
	Some College	3149	25651	67934
	Assoc. Degree	1062	8394	22393
	Bachelors Degree	4322	24704	50711
	Higher Degree	2617	15951	31408

Total Housing Units		9,025	74,427	195,612
--Owner-Occupied		5,874	41,962	100,866
--Renter-Occupied		2,571	23,794	63,793
Owner-Occupied Values	< 100K	707	15293	42555
	100-199K	2740	13587	33910
	200-299K	1459	7070	14750
	300-399K	625	3105	5212
	400-499K	195	1244	1962
	500K+	149	1662	2477

Total Working Age Population		15,134	124,683	322,559
In Work Force		12,106	83,616	200,522
Not In Work Force		3,028	41,067	122,037
Workforce Employed		11,823	77,919	181,962
Workforce Unemployed		283	5,624	18,435
Civlian Workforce		12,106	83,543	200,398
Military Workforce		0	73	124

Total Households		8,445	65,755	164,659
Family Households		3,344	33,167	89,638
Non-Family Households		5,101	32,588	75,021
Married Couple		2,754	20,445	50,320
Other Family		590	12,722	39,318
Married w/Child		924	7,315	17,877
Single Male w/Child		87	1,276	3,300
Single Female w/Child		135	4,157	13,950

Population Change Last Two Decades - Plus Projection

	2000	%	2010	%	2020	%	2030
Michigan	9,938,444	-1	9,883,640	+1	10,023,423	+4	10,424,510
Macomb County	788,149	+7	840,978	+5	883,020	+6	933,965
Oakland County	1,194,156	+1	1,202,362	+5	1,264,515	+7	1,350,052
Wayne County	2,061,162	-12	1,820,584	-4	1,741,463	-1	1,730,000

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While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.