Listing Agency: Passov Real Estate Group Show Phone

Listed By: Alex Van Krevel · License #SAL.2018001867 Show Phone

Source: Moodyscre

Added: Mar 6 Changed: Oct 15 Last Checked: Oct 19 at 9:32AM

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Investment Insights

Based on property information with market context.

This stabilized NNN retail property is 100% occupied and generating a stated stabilized NOI of $44,027, providing immediate, predictable cash flow. The offering metrics indicate approximately a 9.0% year 1 leveraged cash-on-cash return and approximately a 13.0% leveraged total return.

The in-place net effective rent is approximately $10.50 PSF, compared to $14.40–$15.00 PSF NNN leasing comps along Telegraph Road, which indicates the current rent level is below those comparables.

Key Highlights

• 100% occupied NNN retail asset
• Stabilized NOI of $44,027 with immediate cash flow
• In‑place net effective rent of about $10.50 PSF versus $14.40–$15.00 PSF NNN leasing comps on Telegraph Road

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$44,233

Cap Rate

8.29%

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

Is this asking price fair?

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 (±1% cap)

NOI $44,233 @ 7.0% cap · market cap 8.29%

Second Best

—

—

no second resolved use

Theoretical Best

Warehouse

$4.75M

$4.15M – $5.54M (±1% cap)

NOI $332,391 @ 7.0% cap · market cap 62.28%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

First American Title ... Title Company Delaney Counseling Services Counselor Hearthstone Counseling, PLLC Counselor FedEx Drop Box Postal Service Union Home Mortgage ... Loan Service

Suggested Use

Top Pick Restaurant Law Firm Building Supply Hair Salon Dental Office Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

100%

Occupancy

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

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

NNN property - 100% occupied NNN retail asset with stabilized NOI and in-place net effective rent below nearby leasing comps.

Where is this nnn property located?

The property is located at 15479 S Telegraph Rd Monroe, MI.

What is the asking price?

The asking price for this property is $533,663.

What are key features of this property?

This property features: 100% occupied NNN retail asset; Stabilized NOI of $44,027 with immediate cash flow; In‑place net effective rent of about $10.50 PSF versus $14.40–$15.00 PSF NNN leasing comps on Telegraph Road