Flex Space With Boat
New
For Sale
$350,000
3988 N Dixie Highway, Monroe, MI 48162
Flexible commercial building with bay access, office support areas, fenced yard, and a boat launch.
Property Size3,576 SF
Days on Market6
Property Features for 3988 N Dixie Highway
General Information
Standard status
Active
Size
3,576 SF
Additional Details
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$5,327
Building Details
Building Size
3,576 SF
Year Built
1953
Buildings
2
Listing Agency:
Firm Foundations Realty Group
Listed By:
William Van Buren
(734) 787-2890
Source:
Cen21allstar
Added: Sep 10
Changed: Sep 13
Last Checked: Sep 15 at 4:07AM
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 Firm Foundations Realty Group
Investment Insights
Based on property information with market context.
Built in 1953, this flex space combines operational features with functional support areas. The main building includes three bay doors, radiant floor heat, an office, kitchenette, and bathroom. A fenced yard extends the usable property area and includes a boat launch.
The property also includes a separate 24 x 36 garage, providing additional enclosed space for storage, equipment, or business operations. Its address is 3988 N Dixie Highway in Monroe, Michigan.
The property also includes a separate 24 x 36 garage, providing additional enclosed space for storage, equipment, or business operations. Its address is 3988 N Dixie Highway in Monroe, Michigan.
Key Highlights
- Three bay doors in the main building
- Radiant floor heat
- Office, kitchenette, and bathroom included
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
$21,762
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
6.22%
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%
$435,240
$435.2K
Cap Rate 7%
$310,886
$310.9K
Cap Rate 9%
$241,800
$241.8K
Market Conditions
NOI Build-Up for 3,576 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
$35.6K $9.96/SF
− Vacancy
−$2.1K −$0.60/SF
EGI
$33.5K $9.36/SF
− OpEx
−$11.7K −$3.28/SF
NOI
$21.8K $6.09/SF
Area
Monroe County, MI
Vacancy
6.00%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
35.00%
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%
$435,240
Cap Rate 7%
$310,886
Cap Rate 9%
$241,800
Alternative Uses
Best Use
Warehouse
$3.69M
$3.23M – $4.30M
NOI $258,173 @ 7.0% cap · market cap 73.76%
Second Best
Industrial
$3.04M
$2.66M – $3.54M
NOI $212,613 @ 7.0% cap · market cap 60.75%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
101
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48162, MI
29,156
Population
12,698
Households
2.3
Avg Household Size
43
Median Age
24%
College-Educated
91%
High-School Grad
57.5 sq mi
ZIP Area
507
Density / Sq Mi
$68,801
Median Household Income
$41,678
Median Earnings
$912
Median Rent
$192,200
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 Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Flexible commercial building with bay access, office support areas, fenced yard, and a boat launch.
Where is this flex space located?
The property is located at 3988 N Dixie Highway Monroe, MI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Three bay doors in the main building; Radiant floor heat; Office, kitchenette, and bathroom included
