Retail Office Building with
217-231 N Main Street Plymouth, MI 48170
217-231 N Main Street, Plymouth, MI, 48170
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For Sale
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Fully occupied retail/office building with strong frontage and curb-cut access, positioned on B-3-zoned land.
Property Size6,870 SF
Lot Size0.73 Acres
Price / SF$217.61
Days on Market53
Property Features for 217-231 N Main Street
General Information
- Standard status
- Active
- Size
- 6,870 SF
- Lot size
- 0.73 Acres
- Property subtype
- Office, Retail
Building Details
- Year Built
- 1885
Listing agency
Forward Commercial Group
(248) 792-8190
Listed by
Emil Cherkasov · License #6502392741
Source
Crexi
Added: May 31 Updated: Jul 21 at 2:07AM Checked: Jul 21 at 7:57AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Forward Commercial Group
Investment Insights
Based on property information with market context.
This property includes a well-maintained, fully occupied retail/office building totaling 6,870 square feet. The site provides approximately 102 feet of frontage and roughly 302 feet of depth, supporting functional circulation and access for customers and tenants.
Located at 217-231 N Main Street in Plymouth, Michigan, the property benefits from strong ingress/egress through existing curb cuts. The existing improvements provide in-place cash flow while the site’s configuration allows for potential future development, including adding or building in the rear of the property or redeveloping the entire site.
B-3 zoning is noted as supporting long-term redevelopment flexibility, complemented by favorable site characteristics and a strong infill position within Metro Detroit’s suburban market.
Located at 217-231 N Main Street in Plymouth, Michigan, the property benefits from strong ingress/egress through existing curb cuts. The existing improvements provide in-place cash flow while the site’s configuration allows for potential future development, including adding or building in the rear of the property or redeveloping the entire site.
B-3 zoning is noted as supporting long-term redevelopment flexibility, complemented by favorable site characteristics and a strong infill position within Metro Detroit’s suburban market.
Key Highlights
- 6,870 SF fully occupied retail/office building for in‑place income
- B‑3 zoning with redevelopment flexibility, including potential to build/add in the rear
- Approximately 0.73‑acre site with 102 ft of frontage and 302 ft depth
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $98.9k | $14.40 |
| − Vacancy | −$5.9k | −$0.86 |
| EGI | $93.0k | $13.54 |
| − OpEx | −$27.9k | −$4.06 |
| NOI | $65.1k | $9.48 |
6,870 SF · lease $14.40/SF/yr · vacancy 6.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$929.9K
$813.7K – $1.08M
NOI $65,095 @ 7.0% cap · market cap 4.35%
Second Best
Office B
$337.9K
$295.6K – $394.2K
NOI $23,650 @ 7.0% cap · market cap 1.58%
Theoretical Best
Specialty Retail
$1.27M
$1.11M – $1.48M
NOI $89,035 @ 7.0% cap · market cap 5.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Office building - Fully occupied retail/office building with strong frontage and curb-cut access, positioned on B-3-zoned land.
Where is this office building located?
The property is located at 217-231 N Main Street Plymouth, MI.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: 6,870 SF fully occupied retail/office building for in‑place income; B‑3 zoning with redevelopment flexibility, including potential to build/add in the rear; Approximately 0.73‑acre site with 102 ft of frontage and 302 ft depth
