Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    340 N MAIN STREET Plymouth, MI 48170

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Loft-style office/mixed-use building in downtown Plymouth.

    Type:Office
    Property size:
    30,780 SF
    Added:
    Aug 12, 2024
    Days on Market:
    622
    Last Refresh:
    Apr 3 at 6:02 am

    Property Features for 340 N MAIN STREET

    General Information

    Standard status
    Active
    Size
    30,780 SF
    Property subtype
    Office

    Building Details

    Year Built
    1886

    We can help!

    Listing Contact
    Eric D. Banks
    Eric D. Banks

    Listing agent Eric D. Banks License #6502360983

    Listing office Dominion Real Estate Advisors

    Listing date Aug 12, 2024

    Source Cpix.resimplifi

    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 Dominion Real Estate Advisors

    Overview

    Historic Plymouth Loft Office Space

    The historic Daisy Air Rifle Factory has been converted into a loft-style, multi-tenancy office and mixed-use building. The property features three floors with updated foyers, restrooms, and common areas. Office suites have exposed brick, wood beams, and hardwood floors. A shared building conference room is available. Large adjoining parking is provided for clients and customers. Highway access from M-14 and I-275 places the location within easy reach of communities in Michigan. The property is walkable to the amenities of downtown Plymouth.
    Location Intelligence

    Current Use by Public Records

    Semper Foods Big Box & Wholesale Store Ringo & Associates, P.C. Accounting Firm Nanci A. Beard, MA Physician Amy Assemany PLLC Physician Assurant Care LLC Home Health Care Service

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Plymouth
    County
    Wayne
    State
    Michigan
    Longitude
    -83.463059
    Latitude
    42.374792

    Nearby Similar for Lease

    • $3,500/Mo

      Prime Professional Office Suite

      Versatile office suite near downtown Plymouth, suitable for various uses.
      496 W Ann Arbor Trail, Plymouth, MI 48170
      View Details
    • $36 SF/Yr

      Plymouth Office Space Available

      Flexible office solutions in established law firm setting, Plymouth, MI.
      217 Ann Arbor Road W, Plymouth, MI 48170
      View Details
    • $45 SF/Yr

      Plymouth Office Space Available

      Flexible office solutions in established law firm setting, Plymouth, MI.
      217 Ann Arbor Road W, Plymouth, MI 48170
      View Details
    • $18 SF/Yr

      Retail Space in Plymouth Center

      Retail space available in renovated Plymouth shopping center.
      245-277 N. Main Street, Plymouth, MI 48170
      View Details
    • $13 SF/Yr

      Plymouth Office Space For Rent

      11,000 SF office space available for lease in Plymouth.
      46321 Five Mile Road, Plymouth, MI, 48170
      View Details
    • $13 SF/Yr

      Plymouth Flex Space Available

      Modern flex space with natural light and build-to-suit options.
      45330-45550 Commerce Center Drive, Plymouth, MI, 48170
      View Details
    • $12 SF/Yr

      Flex Industrial Space For Lease

      6,250 SF flex industrial space available near I-96/I-275.
      44245-44303 Plymouth Oaks Blvd, Plymouth, MI 48170
      View Details
    • Contact for pricing

      Versatile Church Facility for Rent

      Shared-use church facility ideal for educational, childcare, or community organizations.
      46250 Ann Arbor Rd, Plymouth, MI, 48170
      View Details
    • $615/Mo

      Historic Loft Office Space

      Loft-style office in historic Daisy Air Rifle Factory building.
      340 N MAIN STREET, Plymouth, MI
      View Details
    • $14 SF/Yr

      Industrial Space in Andover Business Park

      Industrial space available for sublease in Plymouth, Michigan.
      47059 Five Mile Rd, Plymouth, MI, 48170
      View Details
    • $12 SF/Yr

      Flex Industrial Space Available

      6,250 SF flex industrial space for lease.
      44245-44303 Plymouth Oaks Blvd, Plymouth, MI 48170
      View Details
    • $16 SF/Yr

      Plymouth Office Space Available

      Office suites with private entry near M-14/I-96 & I-275.
      9357 General Drive, Plymouth, MI
      View Details

    FAQs

    What type of property is this?
    Office building - Loft-style office/mixed-use building in downtown Plymouth.
    Where is this office building located?
    The property is located at 340 N MAIN STREET Plymouth, MI.
    What are key features of this property?
    This property features: Historic Daisy Air Rifle Factory converted into loft‑style office/mixed‑use building.; Highway access from M‑14 and I‑275 provides easy access to desirable Michigan communities.; Walkable to all amenities of Downtown Plymouth.
    (248) 760-2525
    We can help!
    Listing Contact
    Eric D. Banks
    Eric D. Banks
    Real Estate License ID: 6502360983
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!