We’re excited to share the successful sale of the former Otus Supply property at 345 E Nine Mile in Ferndale. An 11,000-square-foot restaurant and music venue positioned in the heart of downtown. Steve Valli and Andrew Battersby brought this bank-owned property to market and, after nearly a year of strategic exposure, closed the sale on October 30, 2025.
This high-end, fully built-out space offered premium finishes, a dedicated parking lot, indoor and outdoor dining, and a well-known entertainment component, all directly across from the Ferndale Police Station. The opportunity included the full package of furniture, fixtures, and equipment, making it one of the most coveted turnkey offerings in the market.
The market response confirmed it. We generated significant interest with more than thirty showings, ultimately securing five written offers and two solid backup offers. The buyer, an experienced operator with five successful metro Detroit locations, immediately recognized the value of the asset and moved forward with a deal that landed very close to our asking price. From accepted offer to closing, the transaction moved efficiently and wrapped up within three months.
This sale underscores not only the strength of the Ferndale market but also the results that come from disciplined marketing, strong positioning, and an active deal management from start to finish.
If you’re considering selling or would like to discuss the value of your property, we’d be happy to show you how our process consistently delivers strong results.
