Built-Out Restaurant with Delivery
For Sale
$259,000
1090 N Dixie Highway, Monroe, MI 48162
Monroe, MI
Property Size2,090 SF
Lot Size0.31 Acres
Price / SF$123.92
Days on Market251
Property Features for 1090 N Dixie Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Zoning description
Commercial
Interior features
220 Volt Power, Bath, Internet Available, Delivery Area, Delivery Door, Electric Available, Furniture, No Elevator, No Tank, No Loading Facility, Public Restrooms, Restroom(s), Trash Removal, Vinyl/Laminate Floors, Smoke/Fire Alarm
Accessibility
Accessible Elevator Installed
Subdivision
harborview
Lot features
Main Street, Storm Drains, Utilities Above Ground
Standard status
Active
Size
2,090 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Annual Amount
9591
Utilities
Heating system
Forced Air
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Building Details
Year built
1949
Roof type
Flat
Listing Agency:
Century 21 Allstar Real Estate Team, Inc · Century 21 Real Estate
(734) 241-2700
Listed By:
Linda Selvidge · License #6501367718
(734) 777-9225
Added: Jan 7
Changed: Sep 15
Last Checked: Sep 15 at 8:06PM
MLS# 50197141
Copyright © 2026 Southeastern Border Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,090-square-foot restaurant property occupies a 0.31-acre site at 1090 N Dixie Highway in Monroe, Michigan. The existing build-out includes a dining area, kitchen configuration, delivery area, delivery door, public restrooms, furniture, vinyl and laminate flooring, and smoke/fire alarm systems. Interior infrastructure includes 220 Volt power, electric service, internet availability, central air, ceiling fans, and forced-air heating.
The property is zoned Commercial and was built in 1949. Public water service is in place, and the building has a flat roof. On-site parking and an established restaurant layout support dine-in, carryout, and delivery-oriented operations.
The property is zoned Commercial and was built in 1949. Public water service is in place, and the building has a flat roof. On-site parking and an established restaurant layout support dine-in, carryout, and delivery-oriented operations.
Key Highlights
- 2,090‑square‑foot restaurant building on a 0.31‑acre site
- Commercial zoning at 1090 N Dixie Highway, Monroe, MI 48162
- Existing dining area and kitchen configuration
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
$20,357
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
7.86%
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%
$407,140
$407.1K
Cap Rate 7%
$290,814
$290.8K
Cap Rate 9%
$226,189
$226.2K
Market Conditions
NOI Build-Up for 2,090 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
$29.3K $14.04/SF
− Vacancy
−$2.2K −$1.05/SF
EGI
$27.1K $12.99/SF
− OpEx
−$6.8K −$3.25/SF
NOI
$20.4K $9.74/SF
Area
Monroe County, MI
Vacancy
7.50%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
25.00%
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%
$407,140
Cap Rate 7%
$290,814
Cap Rate 9%
$226,189
Alternative Uses
Best Use
Industrial
$1.78M
$1.55M – $2.07M
NOI $124,262 @ 7.0% cap · market cap 47.98%
Second Best
Specialty Retail
$290.8K
$254.5K – $339.3K
NOI $20,357 @ 7.0% cap · market cap 7.86%
Theoretical Best
Warehouse
$2.16M
$1.89M – $2.51M
NOI $150,890 @ 7.0% cap · market cap 58.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
115
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 48162, MI
29,156
Population
12,698
Households
2.3
Avg Household Size
43
Median Age
24%
College-Educated
91%
High-School Grad
57.5 sq mi
ZIP Area
507
Density / Sq Mi
$68,801
Median Household Income
$41,678
Median Earnings
$912
Median Rent
$192,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Restaurant - Commercial restaurant property with dining space, kitchen infrastructure, delivery access, public restrooms, and on-site parking.
Where is this restaurant located?
The property is located at 1090 N Dixie Highway Monroe, MI.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: 2,090‑square‑foot restaurant building on a 0.31‑acre site; Commercial zoning at 1090 N Dixie Highway, Monroe, MI 48162; Existing dining area and kitchen configuration
