23.5 Acres Mixed-Use Development
For Sale
$1,300,000
15213 S Dixie Hwy, 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 Market194
Property Features for 15213 S Dixie Hwy
General Information
Standard status
Active
Size
8,752 SF
Lot size
23.50 Acres
Property subtype
Industrial, Investment
Zoning
C-3
Building Details
Building Size
8,752 SF
Year Built
2000
Year Renovated
2018
Buildings
5
Stories
1
Tenancy
Multi-Tenant
Listing Agency:
Signature Associates - Toledo
Listed By:
Thomas Fritz · License #6506045434
(734) 625-7100
Source:
Cpix.resimplifi
Added: Mar 27
Changed: Sep 13
Last Checked: Oct 5 at 3:23PM
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 Signature Associates - Toledo
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 / Yr
$118,152
Cap Rate
9.09%
Suggested Prices Based on Cap Rates
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
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 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
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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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 Hwy 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.
