Freestanding Storefront
For Sale
$625,000
1000 S MONROE St South, Monroe, MI 48161
Leased retail property with six rear garages and an operating first-floor tutoring center.
Property Size4,285 SF
Days on Market10
Property Features for 1000 S MONROE St South
General Information
Standard status
Active
Size
4,285 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,340
Building Details
Building Size
4,285 SF
Year Built
1958
Buildings
1
Listing Agency:
My Realty LLC
(248) 884-2222
Listed By:
Terry Asmar · License #6501408856
(248) 884-2222
Source:
Elliman
Added: Aug 12
Changed: Aug 13
Last Checked: Aug 20 at 7:28AM
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 My Realty LLC
Investment Insights
Based on property information with market context.
Constructed in 1958, this freestanding storefront property is occupied under a long-term lease. The first-floor tenant operates an online tutoring center, providing an established commercial use within the building.
Six garages are positioned at the rear of the property and provide additional functional space. The site is next to the Kroger mall in South Monroe, with a Walk Score of 3 and a Bike Score of 25, reflecting a primarily vehicle-oriented setting.
Six garages are positioned at the rear of the property and provide additional functional space. The site is next to the Kroger mall in South Monroe, with a Walk Score of 3 and a Bike Score of 25, reflecting a primarily vehicle-oriented setting.
Key Highlights
- Freestanding retail building constructed in 1958
- Long‑term lease in place
- First‑floor tenant operates an online tutoring center
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$41,168
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.59%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$823,360
$823.4K
Cap Rate 7%
$588,114
$588.1K
Cap Rate 9%
$457,422
$457.4K
Market Conditions
NOI Build-Up for 4,285 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$64.3K $15.00/SF
− Vacancy
−$5.5K −$1.28/SF
EGI
$58.8K $13.73/SF
− OpEx
−$17.6K −$4.12/SF
NOI
$41.2K $9.61/SF
Area
Monroe County, MI
Vacancy
8.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$823,360
Cap Rate 7%
$588,114
Cap Rate 9%
$457,422
Alternative Uses
Best Use
Retail
$588.1K
$514.6K – $686.1K
NOI $41,168 @ 7.0% cap · market cap 6.59%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$4.42M
$3.87M – $5.16M
NOI $309,360 @ 7.0% cap · market cap 49.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
883
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48161, MI
26,571
Population
12,015
Households
2.2
Avg Household Size
40
Median Age
19%
College-Educated
89%
High-School Grad
44.8 sq mi
ZIP Area
593
Density / Sq Mi
$65,517
Median Household Income
$40,184
Median Earnings
$955
Median Rent
$173,200
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Kroger Floral Department — 850 S Monroe St, Monroe, MI 48161
Frequently Asked Questions
What type of property is this?
Storefront property - Leased retail property with six rear garages and an operating first-floor tutoring center.
Where is this storefront property located?
The property is located at 1000 S MONROE St South Monroe, MI.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Freestanding retail building constructed in 1958; Long‑term lease in place; First‑floor tenant operates an online tutoring center
