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    1491 Monroe St Monroe, MI 48162

    Sponsored
    For Sale
    Contact for pricing

    Prime 2-acre retail site, C-3 zoning.

    Property size:
    2,190 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional redevelopment opportunity encompasses two parcels, 1491 & 1505 N Monroe St, totaling two acres in Monroe, Michigan (48162). The combined property offers 2,190 square feet of existing retail space, presenting a unique chance to revitalize an established location. Situated on busy North Monroe Street near Stewart Road, this high-traffic area ensures excellent visibility and accessibility. The strategic location benefits from proximity to key businesses and amenities, including a Honda dealership, La-Z-Boy headquarters, ProMedica hospital, and the Monroe Country Club, guaranteeing a strong customer base. The property is zoned C-3 Commercial, allowing for a wide range of development possibilities. This presents a significant advantage for investors seeking to capitalize on the area's growth potential. An additional acre of land is available for purchase separately or in conjunction with the existing two acres, providing flexibility for expansion or future development. This is an ideal investment for developers seeking a prime location with high visibility and significant redevelopment potential in a thriving community. The existing structures offer a solid foundation for a variety of commercial ventures, making this a truly unique and compelling opportunity.

    Property Features for 1491 Monroe St

    General Information

    Property type
    Land
    Square Feet
    2,190 SF
    Lot Size
    87,120 SF

    HighLights

    • 1491 & 1505 N Monroe St, Monroe, MI 48162: Two‑acre parcel with an additional acre available for purchase separately or together.
    • High‑traffic location on North Monroe St near Stewart Rd, offering excellent visibility.
    • Prime location near major businesses including Honda, La‑Z‑Boy, ProMedica Hospital, and Monroe Country Club.
    • C‑3 Commercial zoning allows for diverse development options.
    • Exceptional redevelopment opportunity with existing 2,190 sq ft of retail space.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Monroe
    County
    Monroe
    State
    Michigan
    Longitude
    -83.3889332
    Latitude
    41.9381962

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    FAQs

    What type of property is this?
    Land - Prime 2-acre retail site, C-3 zoning.
    Where is this land located?
    The property is located at 1491 Monroe St Monroe, MI.
    What are key features of this property?
    This property features: 1491 & 1505 N Monroe St, Monroe, MI 48162: Two-acre parcel with an additional acre available for purchase separately or together.; High-traffic location on North Monroe St near Stewart Rd, offering excellent visibility.; Prime location near major businesses including Honda, La-Z-Boy, ProMedica Hospital, and Monroe Country Club.
    Request Owner's contact information
    1491 Monroe St Monroe, MI 48162
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    Monroe, MI 48162
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1491 Monroe St Monroe, MI 48162
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