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Financial
Distress signals
Property profile

2021 Monroe St 204-206 Dearborn, MI 48124

FOR LEASE
Medical Office Space
Property ID
US43-1634566
8,031 SF 0.28 ac lot Built 1958
Last sale Oct 2008
Individually Owned Owner of record is an individual. 17-yr Hold Held for 17 years. Absentee Owner Owner mailing address differs from the property address. Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

This first-floor medical/professional office suite at 2021 Monroe Street (Units #204-206) provides approximately 2,000 square feet and includes elevator access. The space was built in 1958 and is zoned Commercial, Office. It was previously configured as a dental office and retains in-place plumbing, water lines, and electrical hookups suitable for medical or other professional office uses. Parking is available via three dedicated lots totaling 54 spaces, located north of the building across the…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2023

What does the county charge?
$25k
Tax billed · 2023
Assessed value · 2024$422k
Effective rate5.91%

Value estimate

· Oct 2026
$315k
$284k – $347k
Submarket $/SF estimate$610k
NOI build-up
Gross scheduled income$38k
Vacancy & credit loss−$9k
Operating expenses−$7k
NOI · 459.19% cap applied$22k

Realmo valuation models over county records and 8 qualifying comparable sales.

Recently sold

What actually traded nearby?
$105/SF
Submarket average, outlier-cleaned · 29 recorded sales of this use type
Observed band · Q1–Q3$76 – $135
Qualifying comparables8

Cap rate analysis

How does the asset earn?
459.19%
$22k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
BB
SIDENTIAL PRESERVATION DISTRICT ARTICLE 12.00 - R-C, R-D, AND R-E MULTIPLE FAMILY RESIDENTIAL DISTRICTS[1] ARTICLE 13.00 - O-S, BUSINESS ...
General categoryCOMMERCIAL
JurisdictionWAYNE

Location intelligence

Which uses thrive at this corner?
Best fit: Daycare Center
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Daycare Center11.6
Electrical Service11.1
Kitchen & Bath10.9

Location

2021 Monroe St, Unit 204-206 Dearborn, MI 48124
County assessor Recorded deeds · 1 transfer 8 qualifying comp sales Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 18 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
2841 Monroe, Dearborn, MI 48124-3492 $1,150,000 May 2022 7,877 SF
1213 Mason, Dearborn, MI 48124-2841 $700,000 Mar 2022 4,684 SF
1922 Monroe, Dearborn, MI 48124-2917 $1,340,000 Mar 2022 5,084 SF
22190 Garrison, Dearborn, MI 48124-2260 $1,865,000 Jan 2022 14,942 SF
1185 Monroe, Dearborn, MI 48124-2814 $3,625,794 May 2021 11,055 SF
3815 Pelham, Dearborn, MI 48124-3852 $750,000 Jan 2020 16,170 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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