Occupied Strip Center For
15479 S Telegraph Rd, Monroe, MI 48161
For Sale
$540,000
Three-tenant strip center in Monroe, Michigan, 100% occupied.
Property Size4,604 SF
Lot Size1.20 Acres
Price / SF$117.29
Days on Market229
Property Features for 15479 S Telegraph Rd
General Information
Standard status
Size
Class
Lot size
Property subtype
Net Operating Income
Building Details
Building Size
Year Built
Listing Agency:
Passov Real Estate Group
Listed By:
Alex Van Krevel · License MI SAL.2018001867
(614) 949-3460
Source:
Passovgroup
Added: Mar 27
Changed: Nov 7
Last Checked: Nov 10 at 5:34AM
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 Passov Real Estate Group
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Investment Insights
Based on property information with market context.
Telegraph Shops is a fully occupied, three-tenant neighborhood strip center located on South Telegraph Road in Monroe, Michigan. The property contains 4,604 square feet and sits on approximately 1.2 acres. Constructed in 1998, the center features a brick exterior, individually metered utilities, rear-positioned ground-mounted HVAC systems, and ample surface parking with 40 spaces. There is one point of two-way ingress and egress. The rent roll is anchored by Northwestern Mutual, a nationally recognized financial services firm occupying approximately 52% of the center, alongside First American Title, a subsidiary of a publicly traded national title insurance provider, and Delaney’s Counseling Services, a locally rooted mental health counseling practice. All tenants operate professional, service-based businesses with appointment-driven models. The current weighted average lease term is approximately 2.9 years, with contractual rent increases in place for two of the three tenants. Located in an established Monroe trade area, Telegraph Shops benefits from consistent demand for convenience-oriented professional services. The property offers investors defensive in-place cash flow, embedded rent growth, and long-term NOI expansion potential.
Key Highlights
- Attractive 8.25% cap rate and $116 PSF purchase price.
- 100% occupied with a rent roll anchored by Northwestern Mutual.
- Significant mark‑to‑market rental upside potential.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,233
Cap Rate
8.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$884,660
$884.7K
Cap Rate 7%
$631,900
$631.9K
Cap Rate 9%
$491,478
$491.5K
Market Conditions
NOI Build-Up for 4,604 SF
Gross rent
$69.1K $15.00/SF
− Vacancy
−$5.9K −$1.28/SF
EGI
$63.2K $13.73/SF
− OpEx
−$19.0K −$4.12/SF
NOI
$44.2K $9.61/SF
Area
Monroe County, MI
Vacancy
8.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$884,660
Cap Rate 7%
$631,900
Cap Rate 9%
$491,478
Alternative Uses
Best Use
Retail
$631.9K
$552.9K – $737.2K
NOI $44,233 @ 7.0% cap · market cap 8.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$894.6K – $1.19M
NOI $71,566 @ 7.0% cap · market cap 13.25%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
250
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 Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Strip mall - Three-tenant strip center in Monroe, Michigan, 100% occupied.
Where is this strip mall located?
The property is located at 15479 S Telegraph Rd Monroe, MI.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: Attractive 8.25% cap rate and $116 PSF purchase price.; 100% occupied with a rent roll anchored by Northwestern Mutual.; Significant mark‑to‑market rental upside potential.
