214 Elm Ave Monroe, MI 48162
- Commercial real estate
- 20,344 SF
- 0.94 lot acres
Current Use by Public Records
- Lindsay Emerson / Medical Clinic
- MMH Occupational Therapy / Occupational Therapist
- Paramount - Michigan / Health Insurance Agency
- Macomb Residential Opportunities / Social Services Organization
- John Damiani, DO / Doctor
Property Details for 214 Elm Ave
- Year built
- 1973
- Lot size
- 0.94 lot acres
- Property size
- 20,344 SF
- Zone code
- R-1A
- Property type
- Commercial real estate
- APN
- 55-59-01845-000
- APU
- 555901845000
Description
This exceptional multi-tenant office building, located at 214 E. Elm Ave in Monroe, Michigan, presents a unique investment opportunity. The property boasts a total of 20,300 square feet, currently subdivided into various medical and general office suites, catering to diverse business needs. One suite, measuring 1,543 square feet, is currently available. Situated on a desirable 1.25-acre lot directly on the River Raisin, the building offers stunning waterfront views. Ample parking is provided with approximately 66 spaces, ensuring convenient access for tenants and visitors. Its strategic location offers unparalleled convenience, being less than two miles from I-75 exit 14 and within walking distance of downtown Monroe. The property's classification as both Traditional and Medical Office space makes it highly versatile and attractive to a wide range of potential tenants. The building is located in Monroe County, Michigan, with a zip code of 48162. This property represents a compelling investment opportunity in a thriving Michigan community. The building's prime location and ample parking make it an attractive option for businesses seeking a professional and accessible workspace. The available suite provides immediate occupancy potential.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,105,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,190,000
- 6.5%
- $1,150,000
- 7%
- $1,060,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $985,000
- Geo Method
- $1,065,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,210,000
- Retail
- $990,000
- Mixed-Use
- $1,240,000
- Hospitality
- $1,095,000
- Educational
- $1,095,000
- Residential Income
- $1,255,000
- Energy
- $1,270,000
- Income-Based Land
- $1,130,000
- Food Service
- $1,355,000
Location Insight
- Map
- Local Demand
- City
- Monroe
- County
- Monroe
- State
- Michigan
- Longitude
- -83.3932
- Latitude
- 41.9167
- CBSA code
- 33780
- CBSA name
- MONROE, MI METROPOLITAN STATISTICAL AREA
