Storefront Property with Monument
For Sale
$1,050,000
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$150
Days on Market441
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
(248) 892-2634
Listed By:
Cody Smith · License #6501443789
(248) 892-2634
Source:
Carwm.resimplifi
Added: Jun 16, 2025
Changed: Aug 30
Last Checked: Aug 30 at 3:13AM
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 = 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
$67,253
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
6.41%
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%
$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
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
$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 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%
$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 6.41%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$7.22M
$6.32M – $8.42M
NOI $505,373 @ 7.0% cap · market cap 48.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
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 - 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 $1,050,000.
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
