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    1180 N Monroe Monroe, MI 48162

    Sponsored
    Source: https://www.cbcworldwide.com
    For Sale
    $1,995,000

    15,662-SFG Medical Center For Sale or Lease

    Property size:
    15,662 SF

    Property Features for 1180 N Monroe

    General Information

    Property type
    Other office properties
    Square Feet
    15,662 SF
    Price / Square Foot
    $127
    Elevators
    N/A
    Net Rentable
    15,662 SF
    Lot Size
    271,379 SF

    Building Details

    Year Built/Renovated
    1995/2007
    Buildings
    1
    Stories
    1

    Overview

    Medical Center For Sale/Lease

    This 15,662-SFG single-story medical office building, constructed in two phases in 1995 and 2007, is available for sale or lease. Situated on a 6.32-acre parcel in Monroe, Michigan, the vacant building has a rectangular shape. Access is provided along Monroe Street to the west, near Cole Road, with ingress and egress via a single point. Open paved parking lots are located on the south, east, and west elevations. The construction features concrete spread footings and a slab-on-grade foundation, with a wood-framed superstructure. Cellar foundation walls are constructed of CMU. The exterior consists of brick and vinyl siding, and the roofing is asphalt shingles with gutters and leaders for drainage. Heating and air conditioning are supplied by split systems with natural gas-fired furnaces, and domestic hot water is provided by two gas-fired water heaters. Electrical service is provided via a 208/120-V, 3-phase service from a pad-mounted transformer. The building is equipped with a wet-pipe sprinkler system for fire protection. As a single-story structure, it has no vertical transportation. The property is generally in good condition, with no apparent major structural or mechanical distress and minimal wear and tear. It has received an adequate level of preventive maintenance.

    We can help!

    Listing Contact
    Cole Mcnew

    Learn more

    Property Insight Report
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Robbin Wagener, OD Physician Susan Hilborn Mccutcheon Physician Chinavare Brian W ... Ophthalmologist Mandar Joshi, MD Ophthalmologist Reed Vision Associates: ... Ophthalmologist

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Monroe
    State
    Michigan
    Longitude
    -83.387847
    Latitude
    41.932672

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    FAQs

    What type of property is this?
    Office property - 15,662-SFG Medical Center For Sale or Lease
    Where is this office property located?
    The property is located at 1180 N Monroe Monroe, MI.
    What is the asking price?
    The asking price for this property is $1,995,000.
    (734) 345-2999
    Request Owner's contact information
    1180 N Monroe Monroe, MI 48162
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    Monroe, MI 48162
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1180 N Monroe Monroe, MI 48162
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    We can help!
    Listing Contact
    Cole Mcnew
    (734) 345-2999
    Learn more
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