Versatile Commercial Property on
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2600 N Monroe, Monroe, MI 48162
Adaptable 4,416 SF commercial space on 1.62 acres.
Property Size4,416 SF
Lot Size1.62 Acres
Price / SF$81.50
Days on Market936
Property Features for 2600 N Monroe
General Information
Standard status
Active
Size
4,416 SF
Lot size
1.62 Acres
Property subtype
Special Purpose
Zoning
C-3
Listing Agency:
Coldwell Banker Commercial Haynes Real Estate
(734) 625-7100
Listed By:
Tom Fritz · License #6506045434
Source:
Crexi
Added: Jan 19, 2024
Changed: Aug 12
Last Checked: May 12 at 10:02PM
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 Coldwell Banker Commercial Haynes Real Estate
Investment Insights
Based on property information with market context.
This commercial property offers 4,416 square feet of flexible space on 1.62 acres. Constructed in 1983, it is located on M-125 (N Monroe St) in Frenchtown Township, benefiting from high visibility. The property includes a truck well, suitable for warehouse and distribution operations. The building has previously served as retail space for pool supplies, a warehouse, a distribution center, and office space. Its adaptable layout and infrastructure make it suitable for various business ventures. The property is located two miles from the main retail and restaurant corridor, making it a strategic location for retail businesses aiming to capture attention and maximize foot traffic. Its positioning also caters to warehouse and distribution operations, ensuring efficient connectivity to key commercial hubs.
Key Highlights
- Prime commercial property with 4,416 sq ft of flexible space.
- Located on highly visible M‑125 (N Monroe St).
- 1.62 acre lot with truck well for seamless logistics.
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
$26,874
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
7.47%
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%
$537,480
$537.5K
Cap Rate 7%
$383,914
$383.9K
Cap Rate 9%
$298,600
$298.6K
Market Conditions
NOI Build-Up for 4,416 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
$44.0K $9.96/SF
− Vacancy
−$2.6K −$0.60/SF
EGI
$41.3K $9.36/SF
− OpEx
−$14.5K −$3.28/SF
NOI
$26.9K $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%
$537,480
Cap Rate 7%
$383,914
Cap Rate 9%
$298,600
Alternative Uses
Best Use
Warehouse
$4.55M
$3.99M – $5.31M
NOI $318,818 @ 7.0% cap · market cap 88.59%
Second Best
Industrial
$3.75M
$3.28M – $4.38M
NOI $262,556 @ 7.0% cap · market cap 72.95%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
505
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Adaptable 4,416 SF commercial space on 1.62 acres.
Where is this flex space located?
The property is located at 2600 N Monroe Monroe, MI.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: Prime commercial property with **4,416 sq ft of flexible space**.; Located on highly visible **M‑125 (N Monroe St)**.; 1.62 acre lot with **truck well for seamless logistics**.
