Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Prime Commercial Land Opportunity Title is generated by Realmo AI

    1290 N Monroe St, Monroe, MI 48162

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $550,000

    2-acre commercial land for sale in Frenchtown Township, MI.

    Type:Land
    Lot size:
    2.00 Acres
    Added:
    Apr 27, 2026
    Days on Market:
    31
    Last Refresh:
    Apr 27 at 12:46 pm

    Property Features for 1290 N Monroe St

    General Information

    Standard status
    Active
    Lot size
    2.00 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Tom Fritz
    Tom Fritz

    Listing agent Tom Fritz License #6501316758

    Listing office Coldwell Banker Haynes Real Estate Commercial

    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 Commercial

    HighLights

    • Strategic location in a medical services corridor, just 2 miles from Promedica Hospital.
    • Formerly the Kmart site, soon to be a state‑of‑the‑art Self Storage facility.
    • 2‑acre outlet with an additional acre available for expansion or development.
    • Easy access to I‑75 (exit 15), only 4 miles away.
    • Excellent mix of commercial and residential neighborhoods.
    • Very Walkable location with a walk score of 87.

    Overview

    This 2-acre commercial land is located adjacent to Circle K in Frenchtown Township. The site, formerly a Kmart, is planned to become a state-of-the-art self-storage facility. Situated within a medical services corridor and approximately 2 miles from Promedica Hospital, the property is suitable for healthcare providers, retailers, or storage businesses. The surrounding area includes a mix of commercial and residential neighborhoods, with shopping in downtown and national chain restaurants and stores, including Walmart and Meijer, located to the north. An additional acre is available for potential expansion or development. The property offers convenient access to I-75 exit 15, located approximately 4 miles away. The location has a walk score of 87, indicating it is very walkable, and a bike score of 56, indicating it is bikeable.
    Location Intelligence

    Current Use by Public Records

    Sears Appliance Repair Home Appliance Store Prime Storage Storage Facility

    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
    County
    Monroe
    State
    Michigan
    Longitude
    -83.407591
    Latitude
    41.905829

    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
    • $599,000
      5,532 SF

      Monroe Multi-Unit Income Property

      Multi-unit property with income potential in Monroe, Michigan.
      3778 N Custer Road, 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
    • $199,900

      Monroe Commercial Land Opportunity

      Shovel-ready commercial land with approvals in high-traffic area.
      704 N TELEGRAPH 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
    • $259,000
      2,090 SF

      Commercial Land in Monroe, MI

      Commercial property with high visibility and diverse income strategies.
      1090 N Dixie Highway, Monroe, MI 48162
      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
    • $449,999

      Commercial Land in Monroe, MI

      12.85 acre commercial lot near amenities and major highways.
      15101 Laplaisance Road, Monroe, MI 48161
      View Details
    • $300,000
      159,865 SF

      Monroe, MI Commercial Land

      Two PUD-zoned lots suitable for various commercial uses.
      012 Frenchtown Center Drive, Monroe, MI 48162
      View Details

    FAQs

    What type of property is this?
    Commercial land - 2-acre commercial land for sale in Frenchtown Township, MI.
    Where is this commercial land located?
    The property is located at 1290 N Monroe St Monroe, MI.
    What is the asking price?
    The asking price for this property is $550,000.
    What are key features of this property?
    This property features: Strategic location in a medical services corridor, just 2 miles from Promedica Hospital.; Formerly the Kmart site, soon to be a state‑of‑the‑art Self Storage facility.; 2‑acre outlet with an additional acre available for expansion or development.
    (734) 625-7100
    We can help!
    Listing Contact
    Tom Fritz
    Tom Fritz
    Real Estate License ID: 6501316758
    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
    1290 N Monroe St, 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!