Mixed-Use Property with
416 N Main St, Plymouth, MI 48170
For Sale
New
$374,900
Two furnished apartments accompany a main-floor office, with separate entrances serving each unit.
Property Size1,310 SF
Days on Market2
Property Features for 416 N Main St
General Information
Standard status
Size
Property subtype
Space & Availability
Floor
Condition
Furnished
Additional Details
Office Units
Property Use
Taxes and HOA fees
Annual Taxes
Amenities
walk-in lobby
kitchenette
half bath
Building Details
Building Size
Year Built
Buildings
Units
Listing Agency:
Bradford Realty
Listed By:
Ian Bradford
(313) 409-0516
Source:
Elliman
Added: Nov 8
Last Checked: Nov 8 at 5:06PM
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 Bradford Realty
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Investment Insights
Based on property information with market context.
Built in 1920, the property combines two one-bedroom apartments with a dedicated office on the main floor. Each apartment has a full bathroom and separate entrance. Both are furnished and include kitchen equipment; the lower unit is wired for an electric stove. The office measures approximately 14.5' x 15.5' and has a lobby, kitchenette, and half bath. A full basement contains two lockable storage rooms.
The building is on N Main St in Plymouth, a short walk from downtown. A parking lot is located behind the property. The lower apartment has a newer furnace, and the upper apartment has a new furnace; the property also has a new hot water tank.
The building is on N Main St in Plymouth, a short walk from downtown. A parking lot is located behind the property. The lower apartment has a newer furnace, and the upper apartment has a new furnace; the property also has a new hot water tank.
Key Highlights
- Two separate one‑bedroom apartments, each with a full bath
- Main‑floor office measures approximately 14.5' x 15.5' and includes a lobby, kitchenette, and half bath
- Furnished apartments have separate entrances and kitchen equipment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,563
Cap Rate
4.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$311,260
$311.3K
Cap Rate 7%
$222,329
$222.3K
Cap Rate 9%
$172,922
$172.9K
Market Conditions
NOI Build-Up for 1,310 SF
Gross rent
$28.3K $21.60/SF
− Vacancy
−$3.4K −$2.59/SF
EGI
$24.9K $19.01/SF
− OpEx
−$9.3K −$7.13/SF
NOI
$15.6K $11.88/SF
Area
Wayne County, MI
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$311,260
Cap Rate 7%
$222,329
Cap Rate 9%
$172,922
Alternative Uses
Best Use
Mixed Use
$222.3K
$194.5K – $259.4K
NOI $15,563 @ 7.0% cap · market cap 4.15%
Second Best
Apartment 5plus
$168.7K
$147.6K – $196.8K
NOI $11,810 @ 7.0% cap · market cap 3.15%
Theoretical Best
Specialty Retail
$242.5K
$212.2K – $283.0K
NOI $16,978 @ 7.0% cap · market cap 4.53%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
1,830
Businesses Nearby
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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
$400,800
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Wayne County, MI
Properties on Market for Mixed-use properties in Wayne County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two furnished apartments accompany a main-floor office, with separate entrances serving each unit.
Where is this mixed-use property located?
The property is located at 416 N Main St Plymouth, MI.
What is the asking price?
The asking price for this property is $374,900.
What are key features of this property?
This property features: Two separate one‑bedroom apartments, each with a full bath; Main‑floor office measures approximately 14.5' x 15.5' and includes a lobby, kitchenette, and half bath; Furnished apartments have separate entrances and kitchen equipment
