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    704 N Telegraph Rd Monroe, MI 48162
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    704 N Telegraph Rd Monroe, MI 48162

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    • Auto shops
    • 2,848 SF
    • 0.88 lot acres
    For Sale
    $199,900
    View Listing →
    Monroe Commercial Land Opportunity For Sale
    $199,900
    0.88 Acres

    Monroe Commercial Land Opportunity

    Shovel-ready commercial land with approvals in high-traffic area.

    704 N TELEGRAPH Road, Monroe, MI 48162
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    Property ID
    US43-0031153
    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

    • LaRoy Door Sales & Services / Building Supply / General Contractor

    Property Details for 704 N Telegraph Rd

    Year built
    1967
    Lot size
    0.88 lot acres
    Property size
    2,848 SF
    Zone code
    R-1A
    Property type
    Auto shops
    APN
    55-69-00721-000
    APU
    556900721000

    Description

    This exceptional 0.44-acre agricultural land parcel presents a unique investment opportunity in Monroe, Michigan. Located at 704 N Telegraph, this vacant site boasts unparalleled potential for commercial, retail, or mixed-use development. The previous structure has been removed, offering a clean slate for your vision. Benefitting from a prime location, the property enjoys exceptional visibility and accessibility, with over 30,000 vehicles passing daily. Its strategic position, just one mile north of the River Raisin and immediately south of a thriving retail and restaurant corridor, ensures high traffic and customer exposure. Nearby establishments include major retailers such as Meijer, Walmart, Lowe's, and Staples, as well as popular restaurants like Culver's, McDonald's, Dairy Queen, and Five Guys. The Monroe City Municipal Authority actively encourages development of this site, making it a highly attractive prospect for investors seeking a high-traffic, high-visibility location in a rapidly growing area. The property is zoned for agricultural use and offers 0.44 acres of buildable land in the 48162 zip code. This is an exceptional opportunity to capitalize on a prime location with significant development potential.

    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
    -83.4096
    Latitude
    41.9321
    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
    $4,923
    $0.00
    $0.00
    $60,270
    -
    $0.00
    $0.00
    $120,540

    Comparable in this City

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    • Value Estimation
      $3,225,000
      40,857 SF

      6231 Monroe St

      AUTO REPAIR, GARAGE • 40,857 SF
      6231 Monroe St, Monroe, MI 48162-9404
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    • Value Estimation by Request
      7,316 SF

      1948 Telegraph Rd

      AUTO REPAIR, GARAGE • 7,316 SF
      1948 Telegraph Rd, Monroe, MI 48162-8900
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    • Value Estimation by Request
      1,320 SF

      1556 Macomb St

      AUTO REPAIR, GARAGE • 1,320 SF
      1556 Macomb St, Monroe, MI 48162-3166
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    • Value Estimation by Request
      3,243 SF

      1600 Monroe St

      AUTO REPAIR, GARAGE • 3,243 SF
      1600 Monroe St, Monroe, MI 48162-4259
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    • Value Estimation by Request
      1,800 SF

      1715 Telegraph Rd

      AUTO REPAIR, GARAGE • 1,800 SF
      1715 Telegraph Rd, Monroe, MI 48162-8915
      View Details

    Similar Nearby for Sale

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      Monroe Commercial Building For Sale

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    View Listing
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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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