Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1204 3rd St Monroe, MI 48161-1002

    • Office buildings
    • 7,934 SF
    • 1.16 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1911835
    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.

    Current Use by Public Records

    • Office buildings

    Property Details for 1204 3rd St

    Year built
    1964
    Construction
    WOOD FRAME
    Lot size
    1.16 lot acres
    Property size
    7,934 SF
    Zone code
    R-1A
    Property type
    Office buildings
    APN
    55-49-01515-000
    APU
    554901515000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Monroe
    County
    Monroe
    State
    Michigan
    Longitude
    -83.3854
    Latitude
    41.9062
    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
    $579
    $0.00
    $0.00
    $8,110
    -
    $0.00
    $0.00
    $16,220

    Comparable in this City

    • Value Estimation by Request
      1,960 SF

      606 Telegraph Rd

      OFFICE BUILDING • 1,960 SF
      606 Telegraph Rd, Monroe, MI 48161-1616
      View Details
    • Value Estimation by Request
      3,570 SF

      15175 Dixie Hwy

      OFFICE BUILDING • 3,570 SF
      15175 Dixie Hwy, Monroe, MI 48161-5038
      View Details
    • Value Estimation by Request
      1,302 SF

      15347 Dixie Hwy

      OFFICE BUILDING • 1,302 SF
      15347 Dixie Hwy, Monroe, MI 48161-3774
      View Details
    • Value Estimation by Request
      2,250 SF

      5623 Dunbar Rd

      OFFICE BUILDING • 2,250 SF
      5623 Dunbar Rd, Monroe, MI 48161-9127
      View Details
    • Value Estimation by Request
      2,800 SF

      204 Macomb St

      OFFICE BUILDING • 2,800 SF
      204 Macomb St, Monroe, MI 48161-2121
      View Details
    • Value Estimation by Request
      2,272 SF

      2010 Custer Rd

      OFFICE BUILDING • 2,272 SF
      2010 Custer Rd, Monroe, MI 48161-1856
      View Details

    Similar Nearby for Sale

    • $1,700,000

      Downtown Monroe Office Plaza Opportunity

      Office building in the heart of downtown Monroe for sale.
      25 S Monroe St, Monroe, MI 48161
      View Details
    • $1,700,000
      23,488 SF

      Downtown Monroe Office Plaza Opportunity

      Office building in the heart of downtown Monroe, Michigan.
      25 S Monroe St, Monroe, MI 48161
      View Details
    • $349,900
      2.23 Acres

      Monroe Commercial Property with Office

      Versatile commercial property with office building and expansion potential.
      1200 Union St, Monroe, MI 48161
      View Details
    • New
      $325,000
      4,850 SF

      Monroe Office Building Near Courthouse

      Well-maintained office building with private offices, conference rooms, and parking.
      204 S Macomb St, Monroe, MI 48161
      View Details
    • $450,000
      3,623 SF

      Medical Office on High-Traffic Street

      3,623 SF medical office building with pharmacy tenant.
      1704 S Custer, Monroe, MI 48161
      View Details
    • $150,000
      1,632 SF

      Monroe Office Space For Sale

      Office property with 1632 square feet of space.
      415 N Monroe St, Monroe, MI 48161
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      1,000 SF

      Downtown Office Space For Rent

      Highly visible office space in a beautiful historical building.
      111 E 1St St, Monroe, MI 48161
      View Details
    • $4,000 /Mo
      4,500 SF

      Spacious Office Building in Monroe

      4500 sq ft office building for lease in Monroe, MI.
      15384 S Dixie Dr, Monroe, MI 48161
      View Details
    • $2,000 /Mo
      2,000 SF

      Spacious Office Building For Lease

      Office spaces available for lease in Monroe, Michigan.
      15384 S Dixie Dr, Monroe, MI 48161
      View Details
    • New
      $4,500 /Mo
      4,850 SF

      Monroe Office Building Near Courthouse

      Well-maintained office building with private offices and conference rooms.
      204 S Macomb St, Monroe, MI 48161
      View Details
    • $4,500 /Mo
      4,985 SF

      Updated Office Space For Rent

      4985 SF office space with high visibility near Kroger.
      15525 S Dixie Hwy, Monroe, MI 48161
      View Details
    • $7 SF/Yr
      4,852 SF

      Monroe Office Building For Lease

      Spacious Office, Land Available Now
      204 Macomb St, Monroe, MI 48161
      View Details
    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.
    1204 3rd St
    Monroe, MI 48161-1002
    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

    Google sign-in failed. Please try again or use another login method.