21201 Woodward Ave | Ferndale
This beautiful MultiUnit is offering a 6.13% CAP Rate! If you’re interest in purchasing the property, reach out to me today and we can get you in for a showing. Be in the heart of it all at 8 Mile Road and Woodward! The former Motorama Hotel just underwent a $3+ million renovation, transforming the property into the trendy, modern, 35-unit, 2-story Urbane Ferndale apartments. The proposed coffeeshop/bakery on the first floor is available for lease. The space not only benefits from the apartment complex residency, but also from the great area synergy. The site is walkable from downtown Ferndale and lies kiddy-corner to the new, Meijer-anchored Gateway Marketplace and the now city-owned former state fairgrounds that are prepped for redevelopment.
