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    Turnkey Office Suite with Three Offices Title is generated by Realmo AI

    843 Penniman Ave 2nd floor, Plymouth, MI 48170

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    For Lease
    $50 SF/Yr

    Includes three private offices, shared conference room, and kitchenette, with available furniture for quick move-in.

    Type:Commercial
    Added:
    Jun 4, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 6 at 5:58 am

    Property Features for 843 Penniman Ave 2nd floor

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    Building Details

    Year Built
    1923

    We can help!

    Listing Contact
    Shelby Fulkerson
    Shelby Fulkerson

    Listing agent Shelby Fulkerson License #6502368405

    Listing office Hub, LLC

    Listing date Jun 4, 2026

    Source Elliman

    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 Hub, LLC

    HighLights

    • 1923‑built office suite in a professional office building in Plymouth
    • Includes 3 private offices available for immediate lease
    • Access to a spacious shared conference room and kitchenette
    • Office furniture available for tenant use for quick move‑in
    • Lease term offered as 12 months (terms negotiable)
    • No elevator in the building

    Overview

    This suite provides three private offices within an established professional office setting, offering a straightforward layout for small teams or offices that require dedicated rooms. Tenants also have access to a spacious shared conference room and a kitchenette, supporting day-to-day work and client or team meetings. Office furniture is available for tenant use, which can reduce setup time for businesses seeking a turnkey solution. Please note the building does not have an elevator, and the space is located on the second floor.

    The offices are situated on Penniman Ave in Plymouth, providing an immediately usable option within a walkable, bikeable area. Lease terms are negotiable, with a 12-month lease term noted for the available arrangement.

    This space is a practical fit for professional services and other office-based users that need multiple enclosed rooms without giving up shared meeting space. The combination of private offices, conference access, kitchenette use, and available furniture makes it well-suited for tenants looking to start operating promptly while keeping operations organized in a dedicated suite.
    Location Intelligence

    Current Use by Public Records

    CrossCountry Mortgage, LLC Loan Service Kellen Gonda Realtor Real Estate Agency Gabriella Esqueda Realtor Real Estate Agency University Title Agency Title Company Emily Campbell at CrossCountry ... Loan Service

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Plymouth
    County
    Wayne
    State
    Michigan
    Longitude
    -83.469984
    Latitude
    42.3710781

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    FAQs

    What type of property is this?
    Office units - Includes three private offices, shared conference room, and kitchenette, with available furniture for quick move-in.
    Where is this office units located?
    The property is located at 843 Penniman Ave 2nd floor Plymouth, MI.
    What is the lease rate?
    The lease rate is $50 SF/Yr.
    What are key features of this property?
    This property features: 1923‑built office suite in a professional office building in Plymouth; Includes 3 private offices available for immediate lease; Access to a spacious shared conference room and kitchenette
    (734) 274-0844
    We can help!
    Listing Contact
    Shelby Fulkerson
    Shelby Fulkerson
    Real Estate License ID: 6502368405
    Learn More
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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.

    More about this property
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    843 Penniman Ave 2nd floor, Plymouth, MI 48170
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