2119 Monroe StDearborn, MI 48124

Property Details for 2119 Monroe St

Year built

1949

Lot size

0.09 AC

Property size (Sq ft)

1,425 SF

Zone code

BA

Property type

Office buildings

APN

82 09 271 03 003

APU

820927103003

Description

This 1,450-square-foot Class C office building at 2119 Monroe St, Dearborn, MI 48124, is available for $295,000. Built in 1949, this single-story building sits on a 3,920-square-foot lot and features one unit with a large lobby, reception area, four offices, a bathroom, and storage. The property boasts three dedicated parking spaces, plus ample street parking. The building is conveniently located within walking distance of downtown Dearborn, offering easy access to major highways and public transportation. Recent improvements include a new roof (2023), new air conditioning, and a new water tank (2022). Zoned for general office use, this property is ideal for startups, small businesses, or professional services. The spacious layout allows for customization to meet diverse business needs. APN: 3282092710. This is a fantastic opportunity to establish or expand your business in a thriving Dearborn location.

• CAP approach

  CAP return

  Valuation

  6%

  $243,943

  6.5%

  $225,178

  7%

  $209,094

• Comparable approach

  Method

  Valuation

  Relative Method

  $133,294

  Geo Method

  $133,294

• Alternative Use

  Use

  Valuation

  Residential

  $279,221

  Hospitality

  $255,765

  Educational

  $212,793

  Medical

  $220,111

  Retail

  $331,012

Location Insight

City

Dearborn

County

Wayne

State

Michigan

Latitude

42.2973

Longitude

-83.2457

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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