800 Cole RdMonroe, MI 48162

Property Details for 800 Cole Rd

Lot size

0.38 AC

Property size (Sq ft)

2,550 SF

Property type

Grocery and convenience stores

APN

07-799-036-00

APU

779903600

Description

This 16,552 square foot commercial lot, located at 800 Cole Street in Monroe, Michigan, 48162, is offered for sale at $149,900. The property is zoned for special purpose use and presents a multitude of development possibilities. Previously occupied by a party store, the site benefits from its high-traffic location, making it ideal for a variety of commercial ventures. Potential uses include, but are not limited to, office space or a medical facility. Some equipment may be available for purchase. The property is also available for lease at a monthly rate of $1,700, and a land contract option is available for qualified buyers. This presents a unique opportunity for investors seeking a versatile property in a prime Monroe location. The property's size and location make it an attractive investment for entrepreneurs and businesses looking to establish a presence in a busy commercial area. The building's past use as a party store demonstrates its suitability for retail or service-based businesses. Serious inquiries are encouraged to explore this promising commercial land opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $641,698

  6.5%

  $592,337

  7%

  $550,027

• Comparable approach

  Method

  Valuation

  Relative Method

  $601,088

  Geo Method

  $601,088

• Alternative Use

  Use

  Valuation

  Residential

  $499,658

  Hospitality

  $457,684

  Educational

  $380,788

  Medical

  $393,884

  Retail

  $592,337

Location Insight

City

Monroe

County

Monroe

State

Michigan

Latitude

41.9391

Longitude

-83.3719

CBSA code

33780

CBSA name

MONROE, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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