Commercial Land with Existing
For Sale
$1,350,000
217231 217-231 N Main St, Plymouth, MI 48170
B-3-zoned site includes a fully occupied retail and office building with existing curb cuts.
Property Size6,870 SF
Price / SF$196.51
Days on Market47
Property Features for 217231 217-231 N Main St
General Information
Standard status
Active
Size
6,870 SF
Building Details
Year Built
1885
Listing Agency:
Forward Commercial Group
Listed By:
Emil Cherkasov · License #6502392741
(248) 894-3604
Source:
Katie-k
Added: Sep 6
Changed: Oct 16
Last Checked: Oct 20 at 9:44PM
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
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Investment Insights
Based on property information with market context.
This commercial land offering includes a 6,870-square-foot retail and office building that is fully occupied and was built in 1885. The existing improvement provides in-place income while the property’s B-3 zoning supports continued commercial use and future site planning. Existing curb cuts provide ingress and egress for the current operation.
The parcel contains approximately 0.73 acres with about 102 feet of frontage and 302 feet of depth along N. Main Street in Plymouth, Michigan. The rear portion offers room for additional construction, while the overall site may accommodate future redevelopment subject to applicable approvals. The property is positioned within an established suburban commercial setting in Metro Detroit.
The parcel contains approximately 0.73 acres with about 102 feet of frontage and 302 feet of depth along N. Main Street in Plymouth, Michigan. The rear portion offers room for additional construction, while the overall site may accommodate future redevelopment subject to applicable approvals. The property is positioned within an established suburban commercial setting in Metro Detroit.
Key Highlights
- Approximately 0.73‑acre commercial land parcel
- 6,870‑square‑foot fully occupied retail/office building
- Approximately 102 feet of frontage and 302 feet of depth
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,095
Cap Rate
4.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,301,900
$1.3M
Cap Rate 7%
$929,929
$929.9K
Cap Rate 9%
$723,278
$723.3K
Market Conditions
NOI Build-Up for 6,870 SF
Gross rent
$98.9K $14.40/SF
− Vacancy
−$5.9K −$0.86/SF
EGI
$93.0K $13.54/SF
− OpEx
−$27.9K −$4.06/SF
NOI
$65.1K $9.48/SF
Area
Wayne County, MI
Vacancy
6.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,301,900
Cap Rate 7%
$929,929
Cap Rate 9%
$723,278
Alternative Uses
Best Use
Retail
$929.9K
$813.7K – $1.08M
NOI $65,095 @ 7.0% cap · market cap 4.82%
Second Best
Office B
$337.9K
$295.6K – $394.2K
NOI $23,650 @ 7.0% cap · market cap 1.75%
Theoretical Best
Specialty Retail
$1.27M
$1.11M – $1.48M
NOI $89,035 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
943
Businesses Nearby
Explore this area
Business Placement
Demographics for 48170, MI
41,069
Population
18,184
Households
2.3
Avg Household Size
45
Median Age
59%
College-Educated
97%
High-School Grad
34.5 sq mi
ZIP Area
1,190
Density / Sq Mi
$109,442
Median Household Income
$68,920
Median Earnings
$1,114
Median Rent
$400,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Commercial land - B-3-zoned site includes a fully occupied retail and office building with existing curb cuts.
Where is this commercial land located?
The property is located at 217231 217-231 N Main St Plymouth, MI.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Approximately 0.73‑acre commercial land parcel; 6,870‑square‑foot fully occupied retail/office building; Approximately 102 feet of frontage and 302 feet of depth
