Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1751 Monroe St Dearborn, MI 48124-2914
    Back to Search
    Property profile & analytics

    1751 Monroe St Dearborn, MI 48124-2914

    View on Map
    • Commercial land
    • 0.16 lot acres
    Off-Market
    Last Sale Jan 21, 2025
    $610,000
    Property ID
    US43-3533720
    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
    $610,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 1751 Monroe St

    Lot size
    0.16 lot acres
    Zone code
    OS
    Property type
    Commercial land
    APN
    82 09 223 35 003
    APU
    820922335003

    Description

    This stunning 2023-built, two-story building offers 3,400 square feet of versatile commercial space in West Dearborn's thriving business district. Ideally suited for a variety of uses, including executive, medical, or traditional office spaces, this property boasts high-end construction materials throughout. The interior features cement flooring and two bathrooms. Adding to its unique appeal are two large rear garage doors and a rear basketball court, offering potential for expansion or creative repurposing. Situated on a 6,900 square foot lot, this mixed-use property presents a compelling investment opportunity. The building's location near Downtown Dearborn provides excellent accessibility and visibility. Land contract terms are available. This exceptional property is ready for immediate occupancy and offers a rare blend of modern amenities and flexible space. The asking price is $749,000, with a price per square foot of $220.29. Don't miss this chance to own a premium commercial property in a prime Dearborn location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $560,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Dearborn
    County
    Wayne
    State
    Michigan
    Longitude
    -83.2435
    Latitude
    42.2999
    CBSA code
    19820
    CBSA name
    DETROIT-WARREN-LIVONIA, 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
    $11,250
    $0.00
    $0.00
    $256,900
    -
    $0.00
    $0.00
    $513,800

    Comparable in this City

    • Value Estimation by Request
      0.50 Acres

      22361 Michigan Ave

      VACANT COMMERCIAL LAND • 0.50 Acres
      22361 Michigan Ave, Dearborn, MI 48124-2234
      View Details
    • Value Estimation by Request
      0.09 Acres

      24910 Michigan Ave

      VACANT COMMERCIAL LAND • 0.09 Acres
      24910 Michigan Ave, Dearborn, MI 48124-1740
      View Details
    • Value Estimation by Request
      0.34 Acres

      800 Brady Rd

      VACANT COMMERCIAL LAND • 0.34 Acres
      800 Brady Rd, Dearborn, MI 48124-2365
      View Details
    • Value Estimation by Request
      24.23 Acres

      500 Brady

      VACANT COMMERCIAL LAND • 24.23 Acres
      500 Brady, Dearborn, MI 48124
      View Details
    • Value Estimation by Request
      0.12 Acres

      904 Military St

      VACANT COMMERCIAL LAND • 0.12 Acres
      904 Military St, Dearborn, MI 48124-2112
      View Details
    • Value Estimation by Request
      0.09 Acres

      2239 Monroe St

      VACANT COMMERCIAL LAND • 0.09 Acres
      2239 Monroe St, Dearborn, MI 48124-3007
      View Details

    Similar Nearby for Sale

    • $499,999

      West Dearborn Undeveloped Land Opportunity

      Half-acre land parcel in West Dearborn, offering great exposure.
      22620 Newman St, Dearborn, MI 48124
      View Details
    • $250,000
      15,000 SF

      Turn-Key Dessert Cafe Opportunity

      Thriving dessert cafe in Downtown West Dearborn for sale.
      1025 Mason St, Dearborn, MI 48124
      View Details
    • $849,999
      4,900 SF

      25217 Michigan Ave, Dearborn, MI 48124

      Industrial properties • 4,900 SF
      25217 Michigan Ave, Dearborn, MI 48124
      View Details
    • $250,000
      1,250 SF

      Downtown Dearborn Dessert Cafe Opportunity

      Turn-key dessert cafe in high-traffic Dearborn location.
      1025 Mason St, Dearborn, MI 48124
      View Details
    • Contact for pricing
      3,077 SF

      Downtown Dearborn Restaurant For Sale

      3,077 sq ft restaurant in the heart of Dearborn.
      22180 Michigan Ave, Dearborn, MI 48124
      View Details
    • $349,900

      Move-in Ready West Dearborn Office

      Freestanding office building in prime West Dearborn location.
      2119 Monroe St, Dearborn, MI 48124
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      32,000 SF

      Vacant Parcel in Downtown Dearborn

      Prime vacant land available for lease in downtown Dearborn.
      22236 Michigan Ave, Dearborn, MI 48124
      View Details
    • Contact for pricing
      52,048 SF

      Dearborn Flex Space For Lease

      Flex space available in Dearborn, south of Michigan Avenue.
      3101 Gulley Rd, Dearborn, MI 48124
      View Details
    • $100 SF/Yr

      West Dearborn Office Space Available

      Office space for lease in prime West Dearborn area.
      2119 Monroe St, Dearborn, MI 48124
      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.
    1751 Monroe St
    Dearborn, MI 48124-2914
    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
    1751 Monroe St, Dearborn, MI, 48124
    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!