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217-231 N Main St 7,000 SF 100% Leased Retail Building Plymouth, MI 48170 $1,350,000 ($192.86/SF) 8.49% Cap Rate
Investment Highlights
- Rare investment opportunity in Downtown Plymouth!
- Heavy day time traffic with easy freeway access!
- Potential for redevelopment to mixed use, car wash or fast food w drive-thru!
Executive Summary
Forward Commercial Group is pleased to exclusively offer 217–231 N. Main Street in Plymouth, Michigan—a rare opportunity to acquire a fully occupied commercial asset with immediate cash flow and significant long-term upside.
Situated on approximately 0.73 acres with 102 feet of frontage, the property is improved with a 6,870-square-footretail/office building that provides stable in-place income while offering multiple value-creation opportunities. The property's B-3 General Business District zoning, flexible short-term and month-to-month leases, and favorable site dimensions allow investors to continue generating income, expand at the rear of the site, reposition the asset, or pursue future redevelopment. Owner-users also can collect rental income while transitioning into the property over time.
Located in the heart of one of Metro Detroit's most desirable suburban markets, the property offers exceptional flexibility for investors, developers, and owner-users.
Please do not disturb tenants. Showings by appointment only.
Situated on approximately 0.73 acres with 102 feet of frontage, the property is improved with a 6,870-square-footretail/office building that provides stable in-place income while offering multiple value-creation opportunities. The property's B-3 General Business District zoning, flexible short-term and month-to-month leases, and favorable site dimensions allow investors to continue generating income, expand at the rear of the site, reposition the asset, or pursue future redevelopment. Owner-users also can collect rental income while transitioning into the property over time.
Located in the heart of one of Metro Detroit's most desirable suburban markets, the property offers exceptional flexibility for investors, developers, and owner-users.
Please do not disturb tenants. Showings by appointment only.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
7,000 SF
Building Class
B
Year Built/Renovated
1883/2010
Price
$1,350,000
Price Per SF
$192.86
Cap Rate
8.49%
NOI
$114,600
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
0.22
Lot Size
0.73 AC
Zoning
B-3 - Commercial Zoned District
Parking
35 Spaces (5 Spaces per 1,000 SF Leased)
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Bridal Couture Of Plymouth
- Retailer
- 2,500 SF
- -
- -
- Healing Connections
- Professional, Scientific, and Technical Services
- 2,300 SF
- -
- -
- Highest Healing Bodyworks
- Services
- 1,000 SF
- -
- -
- Office Space
- Administrative and Support Services
- 200 SF
- -
- -
- Professional Billing Llc
- Professional, Scientific, and Technical Services
- 1,000 SF
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Bridal Couture Of Plymouth | Retailer | 2,500 SF | - | - | ||
| Healing Connections | Professional, Scientific, and Technical Services | 2,300 SF | - | - | ||
| Highest Healing Bodyworks | Services | 1,000 SF | - | - | ||
| Office Space | Administrative and Support Services | 200 SF | - | - | ||
| Professional Billing Llc | Professional, Scientific, and Technical Services | 1,000 SF | - | - |
Fairly walkable
50/100
Exceptionally drivable
100/100
Moderately bikeable
70/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 49-005-10-0105-005 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $230,300 |
Property Taxes
Parcel Number
49-005-10-0105-005
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$230,300
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