Retail Space with Monument
For Sale
$1,050,000
15483 S Dixie Hwy, Monroe, MI 48161
C2-zoned retail property with on-site parking and access to the S Dixie Highway commercial corridor.
Property Size7,000 SF
Price / SF$150
Days on Market441
Property Features for 15483 S Dixie Hwy
General Information
Standard status
Active
Size
7,000 SF
Property subtype
Retail
Zoning
C2, Commercial
Additional Details
Highway Access
Yes
Amenities
monument signage
building signage
Building Details
Year Built
2014
Listing Agency:
Advantage Commercial Real Estate
(248) 892-2634
Listed By:
Cody Smith · License #6501443789
(248) 892-2634
Source:
Carwm.resimplifi
Added: Jun 16, 2025
Changed: Aug 29
Last Checked: Aug 29 at 5:42PM
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 Advantage Commercial Real Estate
Investment Insights
Based on property information with market context.
This 7,000 SF retail building at 15483 S Dixie Highway was constructed in 2014 and previously operated as Hometown Pharmacy. The property provides a dedicated commercial setting with on-site parking, monument signage, and building signage oriented to the highway corridor.
The site is in Monroe, near downtown and with convenient access to I-75. Nearby national and regional businesses include CVS Pharmacy, Walgreens, Meijer, Walmart, Kroger, Dollar Tree, Arby’s, McDonald’s, Taco Bell, Planet Fitness, Phoenix Theatres, and Domka Outdoors. C2, Commercial zoning supports the property’s retail classification.
The site is in Monroe, near downtown and with convenient access to I-75. Nearby national and regional businesses include CVS Pharmacy, Walgreens, Meijer, Walmart, Kroger, Dollar Tree, Arby’s, McDonald’s, Taco Bell, Planet Fitness, Phoenix Theatres, and Domka Outdoors. C2, Commercial zoning supports the property’s retail classification.
Key Highlights
- 7,000 SF retail building constructed in 2014
- C2, Commercial zoning
- Monument and building signage along S Dixie Highway
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
$68,182
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
6.49%
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%
$1,363,640
$1.4M
Cap Rate 7%
$974,029
$974.0K
Cap Rate 9%
$757,578
$757.6K
Market Conditions
NOI Build-Up for 7,000 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
$98.3K $14.04/SF
− Vacancy
−$7.4K −$1.05/SF
EGI
$90.9K $12.99/SF
− OpEx
−$22.7K −$3.25/SF
NOI
$68.2K $9.74/SF
Area
Monroe County, MI
Vacancy
7.50%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
25.00%
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%
$1,363,640
Cap Rate 7%
$974,029
Cap Rate 9%
$757,578
Alternative Uses
Best Use
Specialty Retail
$974.0K
$852.3K – $1.14M
NOI $68,182 @ 7.0% cap · market cap 6.49%
Second Best
Retail
$960.8K
$840.7K – $1.12M
NOI $67,253 @ 7.0% cap · market cap 6.41%
Theoretical Best
Warehouse
$7.22M
$6.32M – $8.42M
NOI $505,373 @ 7.0% cap · market cap 48.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
352
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - C2-zoned retail property with on-site parking and access to the S Dixie Highway commercial corridor.
Where is this retail space located?
The property is located at 15483 S Dixie Hwy Monroe, MI.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 7,000 SF retail building constructed in 2014; C2, Commercial zoning; Monument and building signage along S Dixie Highway
