Storefront Property with Monument
For Sale
$975,000
1144 N Monroe St, Monroe, MI 48162
C2 commercial zoning, on-site parking, and prominent monument and building signage serve a retail-oriented storefront.
Property Size7,000 SF
Price / SF$139.29
Days on Market487
Property Features for 1144 N Monroe St
General Information
Standard status
Active
Size
7,000 SF
Property subtype
Retail
Zoning
C2, Commercial
Additional Details
Highway Access
Yes
Amenities
monument signage
building signage
Building Details
Year Built
2013
Listing Agency:
Advantage Commercial Real Estate
Listed By:
Cody Smith · License #6501443789
(248) 892-2634
Source:
Carwm.resimplifi
Added: Jun 16, 2025
Changed: Oct 14
Last Checked: Oct 14 at 7:47PM
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 Advantage Commercial Real Estate
Investment Insights
Based on property information with market context.
Built in 2013, this 7,000 SF storefront property at 1144 N Monroe Street in Monroe, MI offers a flexible retail setting with on-site parking and both monument and building signage. The building previously operated as Hometown Pharmacy and is zoned C2, Commercial.
The property sits along the North Monroe corridor, minutes from downtown Monroe, with access to I-75. Nearby retail and activity generators include the Mall of Monroe, Planet Fitness, Meijer, Walmart, Kroger, Dollar Tree, and Phoenix Theaters. Its combination of existing commercial improvements, customer parking, signage, and established retail surroundings creates a practical platform for a storefront user.
The property sits along the North Monroe corridor, minutes from downtown Monroe, with access to I-75. Nearby retail and activity generators include the Mall of Monroe, Planet Fitness, Meijer, Walmart, Kroger, Dollar Tree, and Phoenix Theaters. Its combination of existing commercial improvements, customer parking, signage, and established retail surroundings creates a practical platform for a storefront user.
Key Highlights
- 7,000 SF storefront building constructed in 2013
- C2, Commercial zoning
- On‑site parking with monument and building signage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,253
Cap Rate
6.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,345,060
$1.3M
Cap Rate 7%
$960,757
$960.8K
Cap Rate 9%
$747,256
$747.3K
Market Conditions
NOI Build-Up for 7,000 SF
Gross rent
$105.0K $15.00/SF
− Vacancy
−$8.9K −$1.28/SF
EGI
$96.1K $13.73/SF
− OpEx
−$28.8K −$4.12/SF
NOI
$67.3K $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%
$1,345,060
Cap Rate 7%
$960,757
Cap Rate 9%
$747,256
Alternative Uses
Best Use
Retail
$960.8K
$840.7K – $1.12M
NOI $67,253 @ 7.0% cap · market cap 6.90%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$7.22M
$6.32M – $8.42M
NOI $505,373 @ 7.0% cap · market cap 51.83%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
505
Businesses Nearby
Under-served
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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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 - C2 commercial zoning, on-site parking, and prominent monument and building signage serve a retail-oriented storefront.
Where is this storefront property located?
The property is located at 1144 N Monroe St Monroe, MI.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 7,000 SF storefront building constructed in 2013; C2, Commercial zoning; On‑site parking with monument and building signage
