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    1180 N Monroe St Monroe, MI 48162
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    Property profile & analytics

    1180 N Monroe St, Monroe, MI 48162

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    • Medical Office Space
    • 15,797 SF
    • 6.30 lot acres
    For Sale
    $1,995,000
    View Listing →
    Medical Office Building in Monroe For Sale
    $1,995,000
    15,662 SF

    Medical Office Building in Monroe

    Single-story medical office building on 6.32-acre parcel for sale.

    1180 N Monroe Street, FrenchtownTownship_, Monroe, MI 48162
    View Listing
    Property ID
    US43-2501773
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Robbin Wagener, OD / Physician
    • Susan Hilborn Mccutcheon / Physician
    • Chinavare Brian W MD / Ophthalmologist
    • Mandar Joshi, MD / Ophthalmologist
    • Reed Vision Associates: Tracy Michael K MD / Ophthalmologist

    Property Details for 1180 N Monroe St

    Year built
    1995
    Lot size
    6.30 lot acres
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    07-353-013-02
    APU
    735301302

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 25, 2025 — Kam Group LLC Fadwa Tayfour Quitclaim Deed · related —
    Nov 13, 2025 — Mutee Abdole Spirit Master Funding Ix LLC Deed —
    Aug 25, 2014 — Spirit Master Funding Ix LLC Monroe Mob LP Grant Deed —
    Feb 25, 2014 $3,600,000 Monroe Mob LP Reed Holdings Monroe LLC Warranty Deed $2.9M · Waterford Bank NA
    Dec 28, 2012 — Reed Holdings-monroe LLC Reed Holdings-monroe LLC Quit Claim Deed · related —
    Aug 24, 2011 $300,000 Grices Hometown Properties Ll Reed Holdings-monroe LLC Warranty Deed —
    Aug 22, 2011 — Grices Hometown Properties LLC Reed Holdings-monroe LLC Grant Deed · related —
    — — Reed Holdings-monroe LLC — Deed Of Trust · related $2.8M · Fifth Third Bank
    — — Reed Holdings Monroe LLC — Deed Of Trust · related $2.4M · Fifth Third Bank

    Description

    This single-story, 15,662-square-foot medical office building sits on a 6.32-acre lot in Monroe, Michigan. Built in two phases (1995 and 2007), the property is currently vacant and available for lease or sale. The rectangular building features ample parking on three sides, accessed via Monroe Street, near the Cole Road intersection. Construction includes a concrete substructure, wood framing, brick and vinyl siding, and asphalt shingle roofing. The HVAC system utilizes split systems with natural gas furnaces, and domestic hot water is supplied by two gas-fired water heaters. Electrical service is 208/120-V, 3-phase, from a pad-mounted transformer. A wet-pipe sprinkler system provides fire protection. The building is in good condition, showing minimal wear and tear consistent with its age and benefiting from consistent preventative maintenance. The property offers a single-tenant occupancy and presents a significant opportunity for medical practices or other commercial ventures. The property's size and location make it an attractive option for businesses seeking a substantial footprint in Monroe County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Monroe
    County
    Monroe
    State
    Michigan
    Longitude
    -83.3878
    Latitude
    41.9327
    CBSA code
    33780
    CBSA name
    MONROE, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $70,999
    $0.00
    $0.00
    $1,448,000
    -
    $0.00
    $0.00
    $2,896,000

    Comparable in this City

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      2126 Monroe St

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      2252 Monroe St

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      3,462 SF

      529 Monroe St

      MEDICAL BUILDING
      529 Monroe St, Monroe, MI 48162-2932
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    • Value Estimation
      $785,000
      3,046 SF

      1515 Telegraph Rd

      MEDICAL BUILDING
      1515 Telegraph Rd, Monroe, MI 48162-5139
      View Details
    • Value Estimation
      $1,150,000
      6,314 SF

      3749 Dixie Hwy

      MEDICAL CLINIC
      3749 Dixie Hwy, Monroe, MI 48162-4489
      View Details

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      Commercial Building with High Traffic

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      15,662 SF

      Medical Office Building in Monroe

      Single-story medical office building on 6.32-acre parcel for sale.
      1180 N Monroe St, Monroe, MI 48162
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      Monroe Commercial Property For Sale

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    Similar Nearby for Lease

    • $1,500 /Mo

      Medical Suite Near Promedica Hospital

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    • Contact for pricing

      Medical Office Space Near Hospital

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    Monroe, MI 48162
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    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.

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