Telegraph Shops is a 100% occupied, three-tenant neighborhood strip center located on South Telegraph Road in Monroe, Michigan, within the greater Detroit-Toledo regional corridor. The ±4,604 SF property sits on approximately ±1.2 acres and is offered fee simple and free and clear at an attractive 8.25% cap rate and $116 PSF. Constructed in 1998, the center features durable physical attributes including a brick exterior, individually metered utilities, rear-positioned ground-mounted HVAC systems, ample surface parking with 40 spaces, and one point of two-way ingress and egress providing convenient access for service-oriented users. No near-term capital improvements are anticipated. The rent roll is anchored by Northwestern Mutual, a nationally recognized financial services firm occupying approximately 52% of the center, alongside First American Title, a subsidiary of a publicly traded national title insurance provider, and Delaney’s Counseling Services, a locally rooted mental health counseling practice providing essential, appointment-based services to the surrounding community. All tenants operate professional, service-based businesses with appointment-driven models, recurring client demand, and minimal exposure to e-commerce disruption. The current weighted average lease term is approximately 2.9 years, with contractual rent increases in place for two of the three tenants, providing near-term income stability with embedded rollover opportunity. On an adjusted basis, in-place rents remain materially below prevailing market levels. The largest tenant, Northwestern Mutual, is effectively paying approximately $5.22 PSF on a comparable NNN basis, materially below recent NNN leasing activity in the immediate trade area, where neighborhood-oriented and service-based tenants have executed leases averaging approximately $14.40 to $15.00 PSF NNN. Delaney Counseling Services is similarly leased below prevailing NNN market levels after adjustment, while the sole NNN tenant, First American Title, is closer to market but lacks contractual rent escalations. This rent positioning provides clear mark-to-market upside over time through lease rollover, MG-to-NNN conversion, and alignment with observable market benchmarks. Located in an established Monroe trade area supported by solid household incomes, stable population trends, and a diverse employment base anchored by manufacturing, logistics, healthcare, and public sector jobs, Telegraph Shops benefits from consistent demand for convenience-oriented professional services. With limited new retail construction, sub-4% market vacancy, and durable service-based tenancy, the property offers investors defensive in-place cash flow, embedded rent growth, and long-term NOI expansion potential without reliance on aggressive underwriting assumptions.