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
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
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 Population16,939148,846394,122
Population Median Age393939
Population by Age0-9 Yrs1195 (7%)14498 (9%)44727 (11%)
10-19 Yrs912 (5%)15976 (10%)44709 (11%)
20-29 Yrs3852 (22%)25893 (17%)63461 (16%)
30-39 Yrs3843 (22%)23450 (15%)54477 (13%)
40-49 Yrs1996 (11%)18351 (12%)48464 (12%)
50-59 Yrs2407 (14%)19784 (13%)51929 (13%)
60-69 Yrs1554 (9%)16612 (11%)44902 (11%)
70+ Yrs1180 (6%)14282 (9%)41454 (10%)
Median HH Income$76,425$56,460$48,916
Total Household Income< 24K1116 (13%)15031 (22%)44254 (26%)
25-49K1533 (18%)14755 (22%)39508 (23%)
50-74K1488 (17%)10944 (16%)28646 (17%)
75-99K1505 (17%)8542 (12%)18593 (11%)
100-199K2355 (27%)12939 (19%)27505 (16%)
200K+448 (5%)3545 (5%)6153 (3%)
Highest Education LevelNo Diploma532880429600
Diploma or GED18832449775135
Some College31492565167934
Assoc. Degree1062839422393
Bachelors Degree43222470450711
Higher Degree26171595131408
Total Housing Units9,02574,427195,612
--Owner-Occupied5,87441,962100,866
--Renter-Occupied2,57123,79463,793
Owner-Occupied Values< 100K7071529342555
100-199K27401358733910
200-299K1459707014750
300-399K62531055212
400-499K19512441962
500K+14916622477
Total Working Age Population15,134124,683322,559
In Work Force12,10683,616200,522
Not In Work Force3,02841,067122,037
Workforce Employed11,82377,919181,962
Workforce Unemployed2835,62418,435
Civlian Workforce12,10683,543200,398
Military Workforce073124
Total Households8,44565,755164,659
Family Households3,34433,16789,638
Non-Family Households5,10132,58875,021
Married Couple2,75420,44550,320
Other Family59012,72239,318
Married w/Child9247,31517,877
Single Male w/Child871,2763,300
Single Female w/Child1354,15713,950

Population Change Last Two Decades - Plus Projection

2000%2010%2020%2030
Michigan9,938,444-19,883,640+110,023,423+410,424,510
Macomb County788,149+7840,978+5883,020+6933,965
Oakland County1,194,156+11,202,362+51,264,515+71,350,052
Wayne County2,061,162-121,820,584-41,741,463-11,730,000

No part of this information may be copied, reproduced, repurposed, or screen-captured for any commercial purpose without prior written authorization from MyEListing.

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.

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