Office Unit with Rear Garage
For Sale
Contact for pricing
1751 Monroe Street, Dearborn, MI 48124
An open-plan workspace features durable cement flooring and two restrooms.
Property Size2,594 SF
Price / SF$3.82
Days on Market17
Property Features for 1751 Monroe Street
General Information
Standard status
Active
Size
2,594 SF
Property subtype
Commercial
Site & Location
Neighborhood
West Michigan Business
Additional Details
Condition
Move-in Ready
Office Units
1
Property Use
Professional Office
Amenities
two restrooms
two large rear garage doors
Building Details
Year Built
2022
Listing Agency:
GoodHome Realty, LLC
Listed By:
Quinton Lemond
(248) 928-4992
Source:
Goodhomemi
Added: Oct 13
Changed: Oct 28
Last Checked: Oct 28 at 3:24PM
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 GoodHome Realty, LLC
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Investment Insights
Based on property information with market context.
This office unit at 1751 Monroe Street has an open layout, cement flooring, and two restrooms. Two garage doors at the rear provide access for deliveries and equipment, and the flexible interior can accommodate a range of office configurations.
The property is in West Dearborn, with shops, restaurants, and established businesses in the surrounding commercial district.
The property is in West Dearborn, with shops, restaurants, and established businesses in the surrounding commercial district.
Key Highlights
- Two rear garage doors provide access for deliveries and equipment
- Open interior layout with cement flooring
- Two restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,587
Suggested Prices Based on Cap Rates
Cap Rate 5%
$571,740
$571.7K
Cap Rate 7%
$408,386
$408.4K
Cap Rate 9%
$317,633
$317.6K
Market Conditions
NOI Build-Up for 2,594 SF
Gross rent
$49.2K $18.96/SF
− Vacancy
−$11.1K −$4.27/SF
EGI
$38.1K $14.69/SF
− OpEx
−$9.5K −$3.67/SF
NOI
$28.6K $11.02/SF
Area
Dearborn, MI
Vacancy
22.50%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$571,740
Cap Rate 7%
$408,386
Cap Rate 9%
$317,633
Alternative Uses
Best Use
Office B
$408.4K
$357.3K – $476.5K
NOI $28,587 @ 7.0% cap · market cap 288.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$572.2K
$500.7K – $667.6K
NOI $40,057 @ 7.0% cap · market cap 404.62%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
1,474
Businesses Nearby
Explore this area
Business Placement
Demographics for 48124, MI
34,134
Population
14,787
Households
2.3
Avg Household Size
39
Median Age
40%
College-Educated
94%
High-School Grad
8.8 sq mi
ZIP Area
3,879
Density / Sq Mi
$78,353
Median Household Income
$49,103
Median Earnings
$1,280
Median Rent
$192,100
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - An open-plan workspace features durable cement flooring and two restrooms.
Where is this office unit located?
The property is located at 1751 Monroe Street Dearborn, MI.
What are key features of this property?
This property features: Two rear garage doors provide access for deliveries and equipment; Open interior layout with cement flooring; Two restrooms
