1200 Union StMonroe, MI 48161

Property Details for 1200 Union St

Lot size

0.50 AC

Property size (Sq ft)

1,200 SF

Property type

Auto shops

APN

12-020-413-00

APU

1202041300

Description

This exceptional commercial property, located at 1200 Union St, Monroe, MI 48161, presents a unique investment opportunity. The property encompasses a total of 3,500 square feet, distributed across two buildings on a half-acre lot. Built in 2020, the main building offers spacious and adaptable office space, perfect for a variety of business needs. The second building provides ample space for storage, distribution, light industrial manufacturing, or other uses. The property's permitted zoning is Commercial/Light Industrial, allowing for diverse operational possibilities. Previously used as a tow yard, the property's versatile design lends itself to numerous applications, including but not limited to: light industrial operations, manufacturing, auto repair, distribution, storage, and general office space. The property's location within the city limits of Monroe offers convenient access to transportation and essential amenities. The asking price for this ready-to-customize property is $350,000. Showings are available starting September 15th, 2024. This is a chance to acquire a prime commercial location with significant potential for growth and return on investment. The property is currently vacant, allowing for immediate occupancy and customization to suit your specific business requirements.

• CAP approach

  CAP return

  Valuation

  6%

  $301,976

  6.5%

  $278,747

  7%

  $258,836

• Comparable approach

  Method

  Valuation

  Relative Method

  $282,865

  Geo Method

  $282,865

• Alternative Use

  Use

  Valuation

  Residential

  $235,133

  Hospitality

  $215,381

  Educational

  $179,194

  Medical

  $185,357

  Retail

  $278,747

Location Insight

City

Monroe

County

Monroe

State

Michigan

Latitude

41.9091

Longitude

-83.4163

CBSA code

33780

CBSA name

MONROE, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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