15215-15261 S Dixie Hwy
Monroe, MI 48161
South Monroe Plaza · Retail Property For Sale

South Monroe Plaza is a ±72,934 Family Dollar anchored neighborhood retail center located at 15215-15261 S Dixie Hwy, Monroe, MI. This Property presents investors an opportunity to acquire a well-positioned asset with value-add through lease up of the available units at long term market rates. South Monroe Plaza is comprised of 1 single story building with 16 retail units and 1 drive-thru ATM on a ±6.43 AC parcel. Built in 1977, this Property is conveniently located on a main area thoroughfare, S Dixie Highway, and offers excellent ingress/egress with multiple access points. The Property ±650 parking spaces offers abundant surface parking spaces and one large pylon sign identifies the property and tenants. The retail units at the Property are fit for a variety of different retail end users and range in size from ±1,840 to ±12,600 SF with the ability to combine units, up to ±50,000 SF contiguous. The Property is currently ±32% occupied by a mix of national/local tenants including Family Dollar, Ambassador Hall, Subway, Cultivation Innovations, and Anthony’s Family Restaurant. The majority of the tenants at South Monroe Plaza have operating history at the center with staggered lease expirations. There are currently 11 vacant units at the Property totaling ±13,455 SF ±49,713 SF (±68% of GLA) which offer significant value-add through lease-up at market rates. Monroe is the county seat and largest city of Monroe County, MI and located on the western shore of Lake Erie. The city of Monroe an established and stable middle-income community and a growing commuter suburb for two metropolitan areas. South Monroe Plaza is located in a residential area on a commercial thoroughfare and in 2018 has approximately ±48,024 individuals residing within a five-mile radius of the property and an average household income of ±$66,797. In 2018, the total specified consumer spending within a 5-mile radius of the Property accounts for ±$442,427,000 and there are ±2,176 businesses and ±27,983 employees. The tenants at the Property benefit from a loyal customer base and surrounding businesses include Stanford-Allen Chevrolet Cadillac, Monroe Dodge Chrysler, Marathon, Speedway, KFC, McDonald's, Wendy’s, AutoZone, Dollar General, CVS, Kroger, and many more. Additionally, the Property is located near main area traffic drivers including ProMedica Monroe Regional Hospital (±2.9 miles), La-Z-Boy Incorporated (±3.4 miles), Monroe County Community College (±4.9 miles), Port of Monroe (±5 miles), and Downtown Toledo (±19 miles). South Monroe Plaza offers investors the opportunity to purchase a Family Dollar anchored neighborhood center with significant upside potential through both lease-up and future repositioning/redevelopment.