259 W 9 Mile Road Ferndale, MI $ 3,500,000
259 W 9 Mile Road
$ 3,500,000
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259 W 9 Mile Road

Ferndale, MI, 48220
$ 3,500,000
Bedrooms-- Baths-- Sq 11,529

Monthly Estimate*

$ 21,550

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Commercial Property for sale in Ferndale, MI

for $3,500,000. This 11,529 square foot building was built in 1940 on a lot size of 0.12.

Heritage Apartments is a meticulously renovated mixed-use asset comprising 12 luxury apartment units and two prime retail spaces, ideally situated in the core of Ferndale, Michigan. The property commands a premier position on Ferndale's most highly walkable and desirable street, offering residents and commercial tenants immediate access to a dense cluster of sought-after retail and restaurant destinations. The asset underwent an extensive, top-to-bottom gut renovation between 2023 and 2024, featuring comprehensive upgrades including a new roof, updated electrical and plumbing systems, new HVAC, refreshed common areas, and complete interior unit renovations. This revitalization ensures that every section of the property has been modernized, positioning it as the trophy asset in the Ferndale market.

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Commercial Active

Price

$ 3,500,000

Property Type

Commercial

Taxes

$ 35,027

Style

RealEstateOnly

Lot Size

0.12

Year Built

1940

Town/City

Ferndale

County/Region

Oakland

MLS | Web ID

20261000967

Features
General
Sewer PublicSewer
Possession AtClose
Garage Spaces 0.0
Construction Materials Brick
Year Built 1940
Property Subtype RealEstateOnly
Current Use MixedUse MultiFamily
County Oakland
Net Operating Income 215000.0
Operating Expense 85982.0
New Construction N
Property Type CommercialSale
HOA N
Attached Garage N
Subdivision Name GREENWOOD PARK
Garage Y/N N
Status Active
Directions Woodward and 9 Mile
City FerndaleCity_Oakland
Senior Community Y/N N
High School District Ferndale
Zoning Description Commercial MultiFamily
MLS Area Area02258Ferndale
Lot Size Units Acres
Carport Y/N N
Land Lease Y/N N
Tax Annual Amount 35027.0
Home Warranty Y/N N
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Standard Status Active
Occupancy Type Tenant
Tax Assessed Value 459670
Expected Active Date 2026-01-06
Legal Description T1N R11E SEC 34 GREENWOOD PARK LOT 38
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Exterior
Water Source Other
Foundation Details Basement Block
Spa N
Building Area Total 11528.0
Lot Dimensions Irregular
Lot Size Acres 0.12
Waterfront Y/N N
Road Frontage Type Paved
Crops Included Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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Interior
Basement (Y/N) Y
Air Conditioning Y/N N
Heating Y/N N
Fireplace Y/N N
Above Grade Finished Area 11529.0
Above Grade Finished Area Unit Type SquareFeet
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Internal Only
Street Number 1 259
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* Excluded Features
List By
Brady Williams

Listing Agent

Greater Development Llc

Broker

(360) 989-5395

Phone

Affordability Calculator

$24,469
Per Month
88%
12%
0%
Monthly Principal & Interest
$21,550
Monthly Property Taxes
$2,919
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
848457 Elementary School
847983 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
1/6/2026$3,500,000 Listed Price

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259 W 9 Mile Road, Ferndale, MI, 48220 is a Commercial Property for sale at $3,500,000 with 11,529 sqft and a lot size of 0.12. 259 W 9 Mile Road was built in 1940. The property's zip code is 48220 which is in Ferndale, MI