Retail Space with Finished
For Sale
Contact for pricing
106 N MONROE ST, Monroe, MI 48161
Leased veterinary-use retail space with C-M zoning and a defined renewal structure.
Property Size2,088 SF
Price / SF$215.52
Days on Market115
Property Features for 106 N MONROE ST
General Information
Standard status
Active
Size
2,088 SF
Property subtype
Retail, Office
Zoning
retail
Building Details
Year Built
1975
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Wiens & Roth Real Estate
Listed By:
Wiens & Roth · License #6504386409
Source:
Crexi
Added: Jul 9
Changed: Oct 25
Last Checked: Oct 30 at 12:06PM
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 Wiens & Roth Real Estate
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Investment Insights
Based on property information with market context.
This retail property is occupied by a veterinary clinic and includes finished basement space. The C-M zoning supports medical and retail uses, providing flexibility for future occupancy within those categories.
The current lease runs through January 31, 2029 and includes three one-year renewal options. The tenant is responsible for utilities, HVAC, snow removal, trash, and minor repairs, while the landlord’s structural responsibilities are specifically limited. The property produces a 7.35% cap rate, and the lease includes established escalation terms during the option periods.
The current lease runs through January 31, 2029 and includes three one-year renewal options. The tenant is responsible for utilities, HVAC, snow removal, trash, and minor repairs, while the landlord’s structural responsibilities are specifically limited. The property produces a 7.35% cap rate, and the lease includes established escalation terms during the option periods.
Key Highlights
- 7.35% cap rate
- Lease runs through January 31, 2029 with three one‑year renewal options
- C‑M zoning supports medical and retail uses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,060
Cap Rate
4.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$401,200
$401.2K
Cap Rate 7%
$286,571
$286.6K
Cap Rate 9%
$222,889
$222.9K
Market Conditions
NOI Build-Up for 2,088 SF
Gross rent
$31.3K $15.00/SF
− Vacancy
−$2.7K −$1.28/SF
EGI
$28.7K $13.73/SF
− OpEx
−$8.6K −$4.12/SF
NOI
$20.1K $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 Rate 5%
$401,200
Cap Rate 7%
$286,571
Cap Rate 9%
$222,889
Alternative Uses
Best Use
Retail
$286.6K
$250.8K – $334.3K
NOI $20,060 @ 7.0% cap · market cap 4.46%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.15M
$1.88M – $2.51M
NOI $150,745 @ 7.0% cap · market cap 33.50%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,078
Businesses Nearby
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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
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - Leased veterinary-use retail space with C-M zoning and a defined renewal structure.
Where is this retail space located?
The property is located at 106 N MONROE ST Monroe, MI.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 7.35% cap rate; Lease runs through January 31, 2029 with three one‑year renewal options; C‑M zoning supports medical and retail uses
