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    Downtown Plymouth Office Space Available Title is generated by Realmo AI

    310 N Michigan Street, Plymouth, IN 46563

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    Claim this Listing
    For Lease
    $750/Mo $11 SF/Yr (calc)

    Office - Plymouth, IN

    Type:Office
    Property size:
    761 SF
    Lot size:
    0.23 Acres
    Added:
    Oct 30, 2025
    Days on Market:
    210
    Last Refresh:
    May 27 at 5:06 am

    Property Features for 310 N Michigan Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Rooms
    Kitchen, Office
    Parking features
    Paved or Surfaced
    Interior features
    Block, Drywall, Wood, Passenger Elevator, Alley, Office Space
    Accessibility
    Accessible Elevator Installed
    Standard status
    Active
    APN
    50-32-93-102-910.000-019
    Size
    761 SF
    Lot size
    0.23 Acres

    Utilities

    Heating system
    Electric (Heating), Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1908
    Floors in Building
    5
    Flooring type
    Laminate, Vinyl
    Building materials
    Brick, Other, Stone
    Roof type
    Flat, Other
    Architectural style
    Other

    We can help!

    Listing Contact
    Leah Zellers
    Leah Zellers

    Listing agent Leah Zellers

    Listing office RE/MAX OAK CREST -PLYMOUTH 507 E Jefferson St. P.O. Box 395, Plymouth, IN

    Listing date Oct 30, 2025

    MLS# 202544020 Listing URL

    Copyright © 2026 North Central Indiana Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime downtown Plymouth location with high visibility and foot traffic
    • Recently renovated with modern aesthetic and ready for immediate occupancy
    • Functional layout featuring a waiting area, 3 private offices, storage, private restroom
    • Convenient on‑street parking for clients and off‑street parking for staff
    • Signage opportunity on Michigan Street
    • Accessible elevator installed

    Overview

    Located at 310 North Michigan Street in Plymouth, Indiana, this commercial office space is available for lease. Situated on the second floor in the heart of downtown, the suite offers high visibility and foot traffic. The functional layout features a walk-in waiting area, three private offices, a storage closet, and a private restroom with additional storage space. The space is approximately 761 square feet and has been recently renovated with a modern, neutral aesthetic. It is ready for immediate occupancy. Convenient on-street parking is available for clients, with an off-street parking lot located behind the building for staff. Signage on the front of the building may be accommodated. The tenant is responsible for all utilities and internet. A two-year minimum lease term is preferred.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Plymouth
    County
    Marshall
    State
    Indiana
    Longitude
    -86.308924
    Latitude
    41.342209

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    FAQs

    What type of property is this?
    Office units - Recently renovated office suite in a high-visibility downtown location.
    Where is this office units located?
    The property is located at 310 N Michigan Street Plymouth, IN.
    What is the lease rate?
    The lease rate is $750 /Mo.
    What are key features of this property?
    This property features: Prime downtown Plymouth location with high visibility and foot traffic; Recently renovated with modern aesthetic and ready for immediate occupancy; Functional layout featuring a waiting area, 3 private offices, storage, private restroom
    (574) 936-7616
    We can help!
    Listing Contact
    Leah Zellers
    Leah Zellers
    Real Estate License ID: RB14048676
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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