$931,000 USD
248-554-5709
507 S Telegraph Rd
Monroe, MI 48161
Downtown Monroe
HIGHLIGHTS
- Exceptionally Low Rent – Current rent is only $5.00 PSF annually, well below market averages for retail in the region
- Low Basis Price – Priced at just $83 PSF on the building, far under replacement cost for a modern 11,180 SF building
- Recent Renovation – Property was fully renovated in 2023, minimizing near-term capital expenditure requirements
- Corporate Guarantee – Lease backed by Family Dollar, one of the nation’s largest discount retailers with over 8,200 locations
- Stable Income Stream – Net operating income of $55,900 annually with scheduled 10% rent increases every 5 years
- Favorable Lease Economics – Double net lease with tenant covering HVAC, CAM, insurance, and tax reimbursements
FOR SALE DETAILS
PRICE
$931,000 USD
PRICE/SF
$83 USD /SF
CAP RATE
6%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Family Dollar - Monroe, MI
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Drug Store
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
1999
SPRINKLERS
-
PARKING SPACES
52
LAND DETAILS
LAND ACRES
1.15 AC
LAND SF
50,094 SF
ZONING
C-2
APN/PARCEL ID
55-19-00151-000
ASK ABOUT THIS PROPERTY
Please correct the highlighted field(s).
248-554-5709
By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.
Please correct the highlighted field(s).
248-554-5709
By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.
