Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Monroe Multi-Unit Investment Opportunity Title is generated by Realmo AI

    3778 N Custer Rd, Monroe, MI 48162

    View on Map
    Claim this Listing
    For Sale
    $599,000

    Multi-unit property with income potential and updated units.

    Type:Investment
    Added:
    Apr 27, 2026
    Days on Market:
    41
    Last Refresh:
    Apr 27 at 11:52 am

    Property Features for 3778 N Custer Rd

    General Information

    Standard status
    Active
    Property subtype
    Investment

    Building Details

    Year Built
    1917

    We can help!

    Listing Contact
    Erika Baehr

    Listing agent Erika Baehr License #6501332078

    Listing office Coldwell Banker Haynes Real Estate, Inc.

    Listing date Apr 27, 2026

    Source Elliman

    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 Real Estate, Inc.

    HighLights

    • Significant income potential from six rental units plus garage/office space and large dairy barn.
    • Recently updated units with new paint, flooring, kitchens, and bathrooms.
    • Original 38x175 dairy barn with loft, featuring new metal siding and an updated roof, offering diverse usage possibilities.
    • Direct access to the newly extended Heritage Bike Trail.
    • Separate heating and electric for all units.
    • Peaceful setting with views of the River Raisin and open farmland.

    Overview

    This multi-unit property, originally the Woodland Farms homestead, features a stand-alone 3-bedroom, 1-bath home with a full basement (Unit 6) and five additional rental units. Units 1 through 3 have full basements, while Units 4 and 5 offer single-floor living. Units 1 through 5 have been recently updated with paint, flooring, kitchens, and bathrooms. Each unit has separate heating and electric, with shared water expenses. All units include washer/dryer hookups, with Units 4 and 5 sharing a utility room. The property also includes four garage spaces with an attached enclosed office area, offering additional rental or storage opportunities. The original 38x175 dairy barn with loft features new metal siding and an updated roof. The property offers significant income potential for various uses, including storage, an event center, housing, or a recreational rental facility. The setting is peaceful, with views of the River Raisin in front and open farmland behind. There is direct access to the newly extended Heritage Bike Trail from the front of the property. This property is located in Frenchtown Township, Monroe, MI and offers an excellent owner-occupant or income investment opportunity.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Pharmacy Department Store Kitchen & Bath Showroom Accounting Firm Daycare Center 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
    -83.460224
    Latitude
    41.936338

    Nearby Similar for Sale

    • $2,000,000
      8,000 SF

      Turnkey Supermarket Opportunity on Dixie Hwy

      Profitable, established supermarket business and real estate for sale.
      9875 S Dixie Highway, Monroe, MI 48133
      View Details
    • $175,000
      1,115 SF

      Monroe Commercial Property For Sale

      Well-maintained commercial property with two fully occupied retail units.
      127/129 Bentley Drive, Monroe, MI 48162
      View Details
    • $1,500,000
      14,580 SF

      Versatile Commercial Building in Monroe

      Multifunctional 14,580 sq ft building in high-traffic area.
      1065 N Telegraph Road, Monroe, MI 48162
      View Details
    • $650,000
      3,983 SF

      Versatile Commercial Building on Corner

      Office, retail, or mixed-use building in high-traffic area.
      1110 N Telegraph Road, Monroe, MI 48162
      View Details
    • $1,200,000

      Monroe Car Wash Development Opportunity

      Prime 1.3-acre MU-2 zoned property in vibrant retail district.
      227 Stewart Road, Monroe, MI 48162
      View Details
    • $899,999
      4,150 SF

      High-Visibility Corner Commercial Building

      4,150 SF building on 1.5 acres with high traffic exposure.
      15530 S Telegraph Rd, MonroeCharterTownship_Monroe, MI 48161
      View Details
    • $459,900
      6,550 SF

      Professional Building in High-Visibility Corridor

      Well-maintained commercial building with strong income and high visibility.
      750 S Monroe St, Monroe, MI 48161
      View Details
    • $850,000
      20,587 SF

      Versatile Commercial Property in Monroe

      20,587 sq ft building on 6.5 acres.
      8771 Ida Maybee Road, Monroe, MI 48162
      View Details
    • $169,000
      2,013 SF

      Spacious Two-Unit Home, Monroe, MI

      Two-unit home with income potential near city conveniences and I-75.
      68 Navarre Street, Monroe, MI 48161
      View Details
    • $249,900
      1,824 SF

      Well-Maintained Duplex in Monroe, MI

      Full brick duplex, great investment or owner-occupant opportunity.
      1049/1057 N Monroe Street, Monroe, MI 48162
      View Details
    • $650,000

      Versatile Building in High-Traffic Area

      Corner lot suitable for office, retail, or mixed-use purposes.
      1110 N Telegraph Rd, Monroe, MI 48162
      View Details
    • $399,900
      4,648 SF

      Monroe Commercial Building on Acreage

      4648 SF commercial building on 10+ acres in Monroe, MI.
      14905 S Telegraph Road, Monroe, MI 48161
      View Details

    FAQs

    What type of property is this?
    Apartment building - Multi-unit property with income potential and updated units.
    Where is this apartment building located?
    The property is located at 3778 N Custer Rd Monroe, MI.
    What is the asking price?
    The asking price for this property is $599,000.
    What are key features of this property?
    This property features: Significant income potential from six rental units plus garage/office space and large dairy barn.; Recently updated units with new paint, flooring, kitchens, and bathrooms.; Original 38x175 dairy barn with loft, featuring new metal siding and an updated roof, offering diverse usage possibilities.
    (734) 735-0937
    We can help!
    Listing Contact
    Erika Baehr
    Real Estate License ID: 6501332078
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    3778 N. Custer Rd, FrenchtownTownship_Monroe, MI 48162
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!