This Property is no longer advertised on Showcase.com.
Off Market
1/13

730 Penniman Ave
Plymouth, MI 48170


HIGHLIGHTS

  • Net leased commercial condo located at the center of the affluent Downtown Plymouth, Michigan.
  • Surrounded by many national and local boutiques and restaurants, creating a retail destination for the community.
  • Opportunity for an investor to capitalize on a strong, in-place tenant with a newly executed five-year lease extension and 3% yearly escalations.
  • Investment Grade Credit Tenant – S&P Rated A-.

OVERVIEW

730 Penniman Avenue, Suite 100, is an 8,974-square-foot commercial condo space occupying the first floor of Parkside Place, a high-end residential condo building located in Plymouth, Michigan. The property is fully leased to an investment-grade credit tenant with a lease extension option. Situated at the corner of Penniman Avenue and South Union Street in the center of the affluent downtown market, Parkside Place offers unrivaled visibility and prominence in a destination location for the immediate and surrounding communities. The area boasts many local boutique restaurants and shops along with some national tenants including Starbucks, Citizens Bank, Jimmy John’s, and more. Adjacent to the property is a large Village-owned covered parking lot with ample adjacent on-street and surface lot municipal parking nearby for additional parking. Plymouth highlights a compelling demographic profile within a five-mile radius of 730 Penniman Avenue. There are 185,657 residents, 101,439 daytime employees, and 9,220 businesses. The average household income is $116,295 and the total consumer spending exceeds $2.7 billion annually. The top three industries in the city are health care and social assistance, accommodation and food services, and manufacturing, employing approximately 61% of the labor force. Plymouth is a prime location for new investment, emphasizing a focus on economic development and sustainability for businesses and residents. 730 Penniman Avenue introduces an ideal opportunity for an investor to capitalize on a well-established asset in a growing market with a stable tenant demonstrating a strong commitment to the location. Property tours are available by appointment only. Please contact the listing broker to schedule. Property listed by: Bill Harvey license #650212047

FOR SALE DETAILS

PRICE

-

CAP RATE

-

% LEASED

-

TENANCY

-

BUILDING DETAILS

PROPERTY NAME

UBS | Single Tenant Commercial Condo

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

TOTAL BUILDING SIZE

32000

STORIES

3

BUILDING CLASS

B

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.24 AC AC

LAND SF

10,666 SF

ZONING

-

APN/PARCEL ID

49-006-24-0002-000,49-006-24-0008-000,49-006-24-0009-000,49-006-24-0018-000