For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Medical Office Building in Monroe Title is generated by Realmo AI

    1180 N Monroe Street, Monroe, MI 48162

    View on Map
    Claim this Listing
    For Sale
    $1,995,000

    Single-story medical office building on 6.32-acre parcel for sale.

    Type:Commercial/Industrial
    Property size:
    15,662 SF
    Lot size:
    6.32 Acres
    Price / SF:
    $127/SF
    Added:
    Oct 25, 2023
    Days on Market:
    986
    Last Refresh:
    May 19 at 11:05 pm

    Property Features for 1180 N Monroe Street

    General Information

    Standard status
    Active
    Size
    15,662 SF
    Lot size
    6.32 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1995

    We can help!

    Contact an agent
    Cole McNew

    Listing office Coldwell Banker Haynes R.E. in Monroe

    Listing date Oct 25, 2023

    Source Exitrealty

    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 Coldwell Banker Haynes R.E. in Monroe

    HighLights

    • Large 15,662 SF single‑story medical office building
    • Located on a sizable 6.32‑acre parcel
    • Suitable for lease or sale
    • Equipped with a wet‑pipe sprinkler system for fire protection
    • Good condition with no apparent major structural or mechanical distress
    • Ample parking provided on the south, east, and west elevations

    Overview

    The subject property is a 15,662-SFG single-story medical office building situated on a 6.32-acre parcel in Monroe, Michigan. Constructed in two phases, the building is approximately 7 to 19 years old, with initial construction completed in 1995 and a subsequent phase in 2007. The vacant building has a rectangular layout and is accessible from Monroe Street to the west, near the major intersection of Cole Road. A single point of ingress and egress is available along Monroe Street. Open paved parking lots are located on the south, east, and west sides of the building. The substructure consists of concrete spread footings and a slab-on-grade foundation, while the superstructure features wood framing. Cellar foundation walls are constructed of CMU. The primary sidewall system is composed of brick and vinyl siding. The roofing consists of asphalt shingles, with drainage provided by gutters and leaders. Heating and air conditioning are supplied via split systems with natural gas-fired furnaces. Domestic hot water is provided by two gas-fired water heaters. Electrical service is supplied via a 208/120-V, 3-phase service from a pad-mounted transformer. The property is equipped with a wet-pipe sprinkler system for fire protection. As a single-story structure, it does not have vertical transportation. The property is considered to be in good condition, with no apparent major structural or mechanical distress observed. Minimal wear and tear is evident, commensurate with its age. The property has received an adequate level of preventive maintenance from various service firms and the maintenance staff. This property is available for lease or sale.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $276.3k $17.64
    − Vacancy −$44.2k −$2.82
    EGI $232.1k $14.82
    − OpEx −$58.0k −$3.70
    NOI $174.1k $11.11
    15,662 SF · lease $17.64/SF/yr · vacancy 16.00% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $2.49M
    $2.18M – $2.90M (±1% cap)
    NOI $174,055 @ 7.0% cap · market cap 8.72%
    Second Best
    Healthcare Medical
    $1.81M
    $1.59M – $2.11M (±1% cap)
    NOI $126,862 @ 7.0% cap · market cap 6.36%
    Theoretical Best
    Warehouse
    $16.15M
    $14.13M – $18.85M (±1% cap)
    NOI $1,130,735 @ 7.0% cap · market cap 56.68%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile 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

    Dental Office Grocery & Convenience Store Clothing & Fashion Store Hair Salon Cafe & Coffee Shop Skin Care Clinic Accounting Firm Electronics & Wireless Store (Bike/Boat/Book/etc) Store Home Appliance Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Monroe
    County
    Monroe
    State
    Michigan
    Longitude
    -83.4059
    Latitude
    41.9068

    FAQs

    What type of property is this?
    Medical Office Space - Single-story medical office building on 6.32-acre parcel for sale.
    Where is this medical office space located?
    The property is located at 1180 N Monroe Street Monroe, MI.
    What is the asking price?
    The asking price for this property is $1,995,000.
    What are key features of this property?
    This property features: Large 15,662 SF single‑story medical office building; Located on a sizable 6.32‑acre parcel; Suitable for lease or sale
    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message