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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2615 Eastern Ave Plymouth, WI 53073

    • Commercial real estate
    • 17.12 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-1001144
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 2615 Eastern Ave

    Lot size
    17.12 lot acres
    Property type
    Commercial real estate
    APN
    59271820985
    APU
    59271820985

    Description

    Plymouth Commons, a 164,036 square foot medical office complex in Sheboygan County, Wisconsin, offers exceptional opportunities for businesses seeking flexible space solutions. Located at the intersection of Pleasant View and Hwy 57, this single-story, 1989-built property sits on a 16.53-acre lot and boasts high visibility due to its prime location on Eastern Avenue, a major artery through Plymouth. The property features multiple tenancies and offers spaces ranging from 1,490 to 75,474 contiguous square feet, catering to a variety of needs. Anchored by Pick 'n Save, this retail center experiences high traffic volume, benefiting from the strong demographics of the area. The average household income within a one-mile radius exceeds $68,500, indicating a robust consumer base. Further enhancing its appeal, Plymouth Commons presents potential for outlot development and benefits from new ownership and management in 2023. The combined 2023 common area maintenance (CAM) and real estate tax rate is $1.46 per square foot. Plymouth's strategic location places it within 15 miles of several major employers, including Nemak, Kohler Co., Bemis Manufacturing, Sargento Foods, Aurora Surgery Center, and Sartori Cheese, ensuring a strong workforce pool. This property presents a unique investment opportunity in a thriving community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Plymouth
    County
    Sheboygan
    State
    Wisconsin
    Longitude
    -87.9496
    Latitude
    43.7457
    CBSA code
    43100
    CBSA name
    SHEBOYGAN, WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $93,057
    $968,200
    $4,215,900
    $5,184,100
    -
    $1,097,870
    $4,780,530
    $5,878,400

    Comparable in this City

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      7.42 Acres

      3110 County Rd Pp

      COMMERCIAL (GENERAL) • 7.42 Acres
      3110 County Rd Pp, Plymouth, WI 53073-4223
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    • Value Estimation by Request
      2.59 Acres

      2318 Eastern Ave

      COMMERCIAL (GENERAL) • 2.59 Acres
      2318 Eastern Ave, Plymouth, WI 53073-4984
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      432 Highland Ave

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      2.34 Acres

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      763 Jennie Dr, Plymouth, WI 53073-2603
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      31.71 Acres

      2600 Kiley Way

      COMMERCIAL (GENERAL) • 31.71 Acres
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    Similar Nearby for Lease

    • Contact for pricing
      28,714 SF

      Retail Center on Eastern Avenue

      Retail spaces available in high-traffic Plymouth location.
      2615-2643 Eastern Ave, Plymouth, WI 53073
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    • Contact for pricing
      164,036 SF

      Plymouth Commons Medical Office

      Sheboygan County medical office space for lease
      2615 Eastern Ave, Plymouth, WI 53073
      View Details
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    2615 Eastern Ave
    Plymouth, WI 53073
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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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