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32963785
32963776

22740 Woodward Avenue, Ferndale, MI 48220 For Sale

DP
MI MI 6502361821
Fortis Net Lease
Listed by Fortis Net Lease
$1,500,000
52 days on market
Updated 52 days ago

Barrel House

Details
Property Type Retail
Sub Type Restaurant
Square Footage 3,100
Cap Rate 6.4%
NOI $96,000
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Term 5
Lease Expiration 03/31/2028
Remaining Term 1.7
Rent Bumps Yes
Lease Options Two 5-Year Options
Lease Commencement 03/31/2023
Ground Lease No
Ownership Fee Simple

About This Property for Sale

Marketing description

Fortis Net Lease is pleased to present the opportunity to acquire the single-tenant net leased Barrel House property located at 22740 Woodward Avenue in Ferndale. The property is positioned along the highly trafficked Woodward Avenue corridor, one of Metro Detroit’s most recognized commercial thoroughfares, offering excellent visibility and accessibility. The approximately 3,100-square-foot building is leased on a NNN basis, minimizing landlord responsibilities while providing investors with a stable retail asset in one of Southeast Michigan’s most active suburban markets. The offering is available at an asking price of $1,500,000 and benefits from strong surrounding demographics and consistent consumer traffic throughout the area.

Strategically located just minutes from downtown Detroit, the property is surrounded by a dense mix of national retailers, local businesses, restaurants, and residential neighborhoods that continue to support Ferndale’s strong economic growth. The tenant benefits from the area’s vibrant dining and entertainment environment, as well as direct frontage along Woodward Avenue, which serves as a major regional connector throughout Metro Detroit. Additionally, the lease structure includes two 5-year renewal options, providing future operational flexibility and long-term stability for both tenant and ownership.

Investment highlights

  • Long-standing bar at the intersection of 9 & Woodward - one of Metro Detroit's busiest corridors
  • Liquor license stays with the building should tenant vacate
  • Located along the prominent Woodward Avenue corridor with strong visibility and consistent daily traffic counts.
  • Net leased investment opportunity featuring approximately 3,100 square feet in one of Metro Detroit’s most desirable suburban markets.
  • Tenant lease includes two 5-year renewal options, supporting long-term occupancy potential and investment stability.

Listing Contacts

DP
MI MI 6502361821
Fortis Net Lease
Listed by Fortis Net Lease

Valuation Calculator

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$96,000.00
$8,000.00/mo

Valuation Metrics

0
DSCR
6.4%
Cap Rate
6.4%
ROI

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Additional Information

Name
Doug Passon
License
MI 6502361821
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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