624 Livernois StFerndale, MI 48220

For Sale
$1,499,999

High-yield redevelopment opportunity in Ferndale, MI.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional 9,400 square foot multi-tenant industrial property, located at 624 Livernois in Ferndale, Michigan (Oakland County, zip code 48220), presents a compelling redevelopment investment opportunity. The property, built in 1963 and renovated in 2010, sits on a 0.43-acre lot and boasts a Class C designation. Currently housing five tenants, the building offers a diverse mix of creative office, flex, and warehouse spaces, providing flexibility for future development. With a total of 20 parking spaces available, the property is well-suited for a variety of commercial uses. The asking price is $1,499,999, representing a compelling price per square foot of $159.57 and a 4.77% capitalization rate. The Net Operating Income (NOI) currently stands at $71,595. The property is zoned for commercial use and features a single-story building. The anticipated occupancy date for the property is August 21, 2024. This is a private ownership opportunity with a strong potential for future growth and return on investment. The property's location in Ferndale, Michigan offers excellent access to major transportation routes and a thriving local economy. This is a rare chance to acquire a well-positioned multi-tenant property with significant upside potential.

Highlights

  • $1,499,999 asking price for a 9,400 SF multi-tenant industrial/office building in Ferndale, MI.
  • 4.77% cap rate with a $71,595 NOI.
  • Five units, 20 parking spaces, on a 0.43-acre lot.
  • Class C building, built in 1963, renovated in 2010.
  • Creative office, flex, and warehouse space available; 8/21/2024 occupancy date.

Property Details for 624 Livernois St

Property type
Other warehouses, Other office properties
Square Feet
9,400 SF
Class
C
Year Built/Renovated
1963/2010
Buildings
1
Stories
1
Lot Size (sq. ft)
18,731 SF
Units
5

Location Insight

City
Ferndale
County
Oakland
State
Michigan
Latitude
42.4511878
Longitude
-83.1421371
624 Livernois St, Ferndale, Michigan

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624 Livernois St
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