23.5 Acres Mixed-Use Development
For Sale
Contact for pricing
15213 S Dixie Highway, Monroe, MI 48161
Income-producing property with development potential in Monroe, Michigan.
Property Size8,752 SF
Lot Size23.50 Acres
Price / SF$148.54
Days on Market295
Property Features for 15213 S Dixie Highway
General Information
Standard status
Active
Size
8,752 SF
Lot size
23.50 Acres
Property subtype
Industrial, Land
Zoning
C-3, C-2 (General Commercial), R-3 (Residential)
Building Details
Year Built
2000
Year Renovated
2018
Buildings
4
Stories
1
Tenancy
Multi
Listing Agency:
Coldwell Banker Commercial Haynes Real Estate
(734) 625-7100
Listed By:
Tom Fritz · License #6506045434
Source:
Crexi
Added: Oct 31, 2025
Changed: Aug 14
Last Checked: Aug 20 at 7:50PM
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 Commercial Haynes Real Estate
Investment Insights
Based on property information with market context.
This 23.5-acre mixed-use property is located at the south end of Monroe, Michigan, on S Dixie Hwy. The property includes a fully leased commercial office/shop building, two large pole barns, and an independently rented residential house generating $1,350.00 per month. The existing buildings and outbuildings utilize 2.0 acres, leaving 21.5 vacant acres of developable land across three separate parcels. The vacant land is zoned for growth, including C-2 (General Commercial) and R-3 classifications. It is suited for projects such as storage units or a commercial yard for contractors requiring ground area. The property offers income from commercial buildings and a residential rental house. The location is strategic, and the zoning allows for flexible development options.
Key Highlights
- 23. 5‑acre mixed‑use property with 21.5 acres of developable land.
- Income‑producing property generating $1,350.00 per month from existing commercial buildings, pole barns, and a rented residential house.
- Strategic location on S Dixie Hwy at the south end of Monroe, Michigan.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$118,152
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.09%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,363,040
$2.4M
Cap Rate 7%
$1,687,886
$1.7M
Cap Rate 9%
$1,312,800
$1.3M
Market Conditions
NOI Build-Up for 8,752 SF
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.
Gross rent
$210.0K $24.00/SF
− Vacancy
−$21.0K −$2.40/SF
EGI
$189.0K $21.60/SF
− OpEx
−$70.9K −$8.10/SF
NOI
$118.2K $13.50/SF
Area
Monroe County, MI
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,363,040
Cap Rate 7%
$1,687,886
Cap Rate 9%
$1,312,800
Alternative Uses
Best Use
Warehouse
$9.03M
$7.90M – $10.53M
NOI $631,860 @ 7.0% cap · market cap 48.60%
Second Best
Industrial
$7.43M
$6.50M – $8.67M
NOI $520,356 @ 7.0% cap · market cap 40.03%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
238
Businesses Nearby
Explore this area
Business Placement
Demographics for 48161, MI
26,571
Population
12,015
Households
2.2
Avg Household Size
40
Median Age
19%
College-Educated
89%
High-School Grad
44.8 sq mi
ZIP Area
593
Density / Sq Mi
$65,517
Median Household Income
$40,184
Median Earnings
$955
Median Rent
$173,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Income-producing property with development potential in Monroe, Michigan.
Where is this mixed-use property located?
The property is located at 15213 S Dixie Highway Monroe, MI.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 23. 5‑acre mixed‑use property with **21.5 acres of developable land**.; Income‑producing property generating $1,350.00 per month from existing commercial buildings, pole barns, and a rented residential house.; Strategic location on S Dixie Hwy at the south end of Monroe, Michigan.
