Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Modernized Property Ready for New Title is generated by Realmo AI

    942 E Third Street, Monroe, MI 48161

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $225,000

    Daycare facility with updated systems, ready for new owner.

    Type:Commercial/Industrial
    Property size:
    2,748 SF
    Lot size:
    0.16 Acres
    Price / SF:
    $81/SF
    Added:
    Mar 12, 2026
    Days on Market:
    71
    Last Refresh:
    Apr 6 at 3:22 am

    Property Features for 942 E Third Street

    General Information

    Standard status
    Active
    Size
    2,748 SF
    Lot size
    0.16 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1965

    We can help!

    Listing Contact
    Cole McNew

    Listing agent Cole McNew License #6501447424

    Listing office Coldwell Banker Haynes R.E. in Monroe

    Listing date Mar 12, 2026

    Source Exitrealty

    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 Haynes R.E. in Monroe

    HighLights

    • Completely modernized with newer roof, furnace, HVAC, plumbing, and electrical systems.
    • Formerly a daycare, offering potential for continued educational use or other ventures.
    • All contents included in the sale.
    • Well‑maintained amenities.
    • Versatile space suitable for various uses.
    • Strong foundation due to recent updates.

    Overview

    This property, previously operated as a daycare center, is available for sale and includes all existing equipment. The building features a recently installed roof, furnace, HVAC system, plumbing, and electrical infrastructure, reflecting comprehensive modernization. The property offers a foundation for continued use as an educational space or adaptation for alternative purposes. With recent updates and maintained amenities, this property presents a versatile opportunity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Day care centers

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Similar Places Nearby

    • Pearl SMART Schools — 501 Clark St, Monroe, MI 48161
    • Tender Hands Child Care Center — winchester st, monroe, mi 48161
    • Kozy Korner Daycare — 326 Conant Ave, Monroe, MI 48161

    Location Insight

    • Map
    • Local Demand
    City
    Monroe
    County
    Monroe
    State
    Michigan
    Longitude
    -83.3883
    Latitude
    41.9082

    Nearby Similar for Sale

    • $2,000,000
      8,000 SF

      Turnkey Supermarket Opportunity on Dixie Hwy

      Profitable, established supermarket business and real estate for sale.
      9875 S Dixie Highway, Monroe, MI 48133
      View Details
    • $650,000
      3,983 SF

      Versatile Commercial Building on Corner Lot

      Office, retail, or mixed-use building in high-traffic area.
      1110 N Telegraph, Monroe, MI 48162
      View Details
    • $259,000
      2,090 SF

      Monroe Commercial/Industrial Opportunity

      Prime commercial building in Monroe, Michigan with investment potential.
      1090 N Dixie, Monroe, MI 48162
      View Details
    • $1,200,000

      Monroe Commercial Property Development Opportunity

      1.3 acre MU-2 zoned property in vibrant retail district.
      227 Stewart, Monroe, MI 48162
      View Details
    • $899,999
      4,150 SF

      High-Visibility Corner Commercial Building

      4,150 SF building on 1.5 acres with high traffic exposure.
      15530 S Telegraph Rd, MonroeCharterTownship_Monroe, MI 48161
      View Details
    • $459,900
      6,550 SF

      Professional Building in High-Visibility Corridor

      Well-maintained commercial building with strong income and high visibility.
      750 S Monroe St, Monroe, MI 48161
      View Details
    • $850,000
      20,587 SF

      Versatile Property in Monroe, MI

      20,587 SF building on 6.5 acres with additional building.
      8771 Ida Maybee, Monroe, MI 48162
      View Details
    • $1,500,000
      14,580 SF

      Versatile Commercial/Industrial Building in Monroe

      Multifunctional 14,580 sq ft building in high-traffic area.
      1065 N Telegraph, Monroe, MI 48162
      View Details
    • $399,900
      4,648 SF

      Monroe Commercial Building on 10 Acres

      4,648 SF commercial building on over 10 acres.
      14905 S Telegraph, Monroe, MI 48161
      View Details
    • $249,900
      1,824 SF

      Well-Maintained Duplex in Monroe, MI

      Full brick duplex with two units, great investment opportunity.
      1049/1057 N Monroe, Monroe, MI 48162
      View Details
    • $650,000

      Versatile Building in High-Traffic Area

      Corner lot suitable for office, retail, or mixed-use purposes.
      1110 N Telegraph Rd, Monroe, MI 48162
      View Details
    • $180,000
      1,296 SF

      Monroe Duplex with Income Potential

      Affordable, occupied duplex with separate utilities and large yard.
      815 Union, Monroe, MI 48161
      View Details

    FAQs

    What type of property is this?
    Day care center - Daycare facility with updated systems, ready for new owner.
    Where is this day care center located?
    The property is located at 942 E Third Street Monroe, MI.
    What is the asking price?
    The asking price for this property is $225,000.
    What are key features of this property?
    This property features: Completely modernized with newer roof, furnace, HVAC, plumbing, and electrical systems.; Formerly a daycare, offering potential for continued educational use or other ventures.; All contents included in the sale.
    (734) 242-8484
    We can help!
    Listing Contact
    Cole McNew
    Real Estate License ID: 6501447424
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    942 E Third Street, MonroeCity_Monroe, MI 48161
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!