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22031 Woodward Ave
Ferndale, MI 48220
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- The lease features very rare 3% annual rent increases which strongly help against inflation.
- Prominent frontage on Woodward Avenue, a major commercial thoroughfare,
- Vacancy rate for this market is less than 4.5%.
EXECUTIVE SUMMARY
The subject property is occupied by Caliber Collision, a national auto body repair company with 1,800+ locations nationwide. This is a corporate guaranteed lease.
Average household income within a one-mile radius is $121,248.
The lease features very rare 3% annual rent increases which strongly help against inflation.
The subject property features prominent frontage on Woodward Avenue, a major commercial thoroughfare with daily traffic counts of approximately 30,000+ vehicles in each direction. With over 60,000 vehicles passing by the site each day, this high-visibility location in Ferndale benefits from consistent exposure and serves as a key commuter route connecting Detroit and the greater metropolitan area.
The subject property is in proximity to several dealerships such as Ford, Buick GMC, Subaru, and Honda.
Caliber Collision is an e-commerce proof and recession proof tenant.
Vacancy rate for this market is less than 4.5%
Average household income within a one-mile radius is $121,248.
The lease features very rare 3% annual rent increases which strongly help against inflation.
The subject property features prominent frontage on Woodward Avenue, a major commercial thoroughfare with daily traffic counts of approximately 30,000+ vehicles in each direction. With over 60,000 vehicles passing by the site each day, this high-visibility location in Ferndale benefits from consistent exposure and serves as a key commuter route connecting Detroit and the greater metropolitan area.
The subject property is in proximity to several dealerships such as Ford, Buick GMC, Subaru, and Honda.
Caliber Collision is an e-commerce proof and recession proof tenant.
Vacancy rate for this market is less than 4.5%
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Auto Repair
Building Size
12,198 SF
Building Class
C
Year Built/Renovated
1966/2023
Price
$3,232,707 CAD
Price Per SF
$265.02 CAD
Cap Rate
6.70%
NOI
$216,458 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.97
Lot Size
0.29 AC
Opportunity Zone
Yes
Zoning
BI - Commercial Zoned District
Parking
5 Spaces (0.4 Spaces per 1,000 SF Leased)
Frontage
82’ on woodward Ave
AMENITIES
- Security System
- Signage
- Tenant Controlled HVAC
- Wheelchair Accessible
- Storage Space
- Monument Signage
- Air Conditioning
- Smoke Detector
PROPERTY TAXES
| Parcel Number | 25-34-251-013 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $508,072 CAD |
PROPERTY TAXES
Parcel Number
25-34-251-013
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$508,072 CAD
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