Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    628 Washington St Monroe, MI 48161

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $205,000

    Duplex in convenient location with long-term tenants.

    Lot size:
    0.10 Acres

    Property Features for 628 Washington St

    General Information

    Property type
    Investment
    Standard status
    Active
    Lot size
    0.10 Acres

    Building Details

    Year built
    1915

    We can help!

    Listing Contact
    Mitchell Petree
    Source: Elliman

    Listing Agent: Mitchell Petree

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Monroe Duplex Investment Opportunity

    Located just yards off S Monroe Street, this duplex is situated on a corner lot. The property features a larger 3-bedroom, 1-bath unit and a smaller 1-bedroom, 1-bath unit. The larger unit is currently rented for $1300 per month by a long-term tenant. The smaller unit is listed for $850 per month. Each unit has access to off-street parking. Gas and electric are metered separately for each unit, while water is common to the building. This duplex is an investment opportunity.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Monroe
    County
    Monroe
    State
    Michigan
    Longitude
    -83.4014291
    Latitude
    41.9102506

    Nearby Similar for Sale

    • $450,000
      3,623 SF

      Medical Office on High-Traffic Street

      3,623 SF medical office building with pharmacy tenant.
      1704 S Custer, Monroe, MI 48161
      View Details
    • $369,900
      4,416 SF

      Versatile Commercial Property on M-125

      1.62-acre commercial property with 4,416 SF flexible space on M-125.
      2600 N Monroe St, Monroe, MI 48162
      View Details
    • New
      $395,000
      4,850 SF

      Monroe Office Building Near Courthouse

      Well-maintained 4,850 SF office building with parking.
      204 S Macomb St, Monroe, MI 48161
      View Details
    • New
      $279,900
      6,120 SF

      Monroe Retail Building For Sale

      Retail building suitable for grocery, convenience store, or retail concept.
      1104 E 4Th St, Monroe, MI 48161
      View Details
    • $259,000
      2,090 SF

      Commercial Building in Prime Location

      High-visibility commercial property with income potential in Monroe, Michigan.
      1090 N Dixie Dr, Monroe, MI 48162
      View Details
    • New
      $399,900
      Pending

      Monroe Commercial Building on 10 Acres

      4,648 SF commercial building on over 10 acres.
      14905 S Telegraph Rd, Monroe, MI 48161
      View Details
    • $2,000,000
      8,000 SF

      Turnkey Supermarket Opportunity on Dixie Hwy

      Profitable, established supermarket business and real estate for sale.
      9875 S Dixie Hwy, Monroe, MI 48133
      View Details
    • $650,000
      3,983 SF

      Versatile Commercial Building on Corner Lot

      Office, retail, or mixed-use building in high-traffic area.
      1110 N Telegraph Rd, Monroe, MI 48162
      View Details
    • $325,000
      1,296 SF

      Monroe Commercial Property For Sale

      Commercial/Industrial property with fenced area and parking in Monroe, MI.
      2784 N Monroe St, Monroe, MI 48162
      View Details
    • $249,500
      1,620 SF

      Turnkey Cafe Opportunity in Monroe

      Equipped cafe ready for revival as bar or restaurant.
      13986 Laplaisance St, Monroe, MI 48161
      View Details
    • $1,200,000
      1.35 Acres

      Monroe Commercial Property Development Opportunity

      1.3 acre MU-2 zoned property in vibrant retail district.
      227 Stewart Rd, Monroe, MI 48162
      View Details
    • $550,000
      2.00 Acres

      Prime Land Near Circle K

      2-acre commercial land near hospital and major retailers.
      1290 N Monroe St, Monroe, MI 48162
      View Details

    FAQs

    What type of property is this?
    Duplex - Duplex in convenient location with long-term tenants.
    Where is this duplex located?
    The property is located at 628 Washington St Monroe, MI.
    What is the asking price?
    The asking price for this property is $205,000.
    What are key features of this property?
    This property features: - Duplex property ideal for investors.; - Currently generating $2150/month in rental income.; - Located on a corner lot near S Monroe Street.
    (734) 735-2378
    Request Owner's contact information
    628 Washington St Monroe, MI 48161
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    628 Washington St
    Monroe, MI 48161
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    628 Washington St Monroe, MI 48161
    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
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Mitchell Petree
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!