Flex Space with Fenced
New
For Sale
$350,000
3988 N Dixie Highway, Monroe, MI 48162
Commercial Sale, Monroe, MI
Property Size3,576 SF
Lot Size0.62 Acres
Price / SF$97.87
Days on Market2
Property Features for 3988 N Dixie Highway
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
C1
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Elementary school district
Jefferson
Middle school district
Jefferson
High school district
Jefferson
Directions
On N. Dixie Highway just south of Stony Creek Stream
Standard status
Active
APN
07-001-024-10
Size
3,576 SF
Lot size
0.62 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LENGTHY AND ON FILE
Tax Annual Amount
5327
Legal Description
LENGTHY AND ON FILE
Utilities
Utilities
Cable Available
Heating system
Forced Air, Hot Water(Heating), Radiant
Water front features
Creek
Water front
1
Building Details
Year built
1953
Floors in Building
2
Number of units
1
Building materials
Block
Listing Agency:
Firm Foundations Realty Group
(734) 434-2100
Listed By:
William Van Buren
(734) 787-2890
Added: Sep 10
Changed: Sep 11
Last Checked: Sep 11 at 4:06PM
MLS# 26048359
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3576-square-foot flex-space property sits on 0.62 acres and includes a main building with three bay doors, radiant floor heat, an office, kitchenette, and bathroom. Block construction and multiple heating systems support a functional commercial layout. Built in 1953, the property also includes a separate 24 x 36 garage for additional enclosed space.
The exterior features a fenced yard, a boat launch, and creek waterfront. Cable is available, and the property is located at 3988 N Dixie Highway in Monroe, Michigan. The combination of service access, enclosed improvements, and outdoor storage area provides a practical configuration for commercial operations requiring both building and yard space.
The exterior features a fenced yard, a boat launch, and creek waterfront. Cable is available, and the property is located at 3988 N Dixie Highway in Monroe, Michigan. The combination of service access, enclosed improvements, and outdoor storage area provides a practical configuration for commercial operations requiring both building and yard space.
Key Highlights
- 3576 square feet on 0.62 acres
- Main building with three bay doors
- Radiant floor heat, office, kitchenette, and bathroom
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
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
View Realmo Analytics
Market
Vacancy Rate% for Industrial 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?
Flex space - Block-built facility has an office, kitchenette, bathroom, and practical work areas.
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: 3576 square feet on 0.62 acres; Main building with three bay doors; Radiant floor heat, office, kitchenette, and bathroom
