850-1020 S Monroe St | Monroe, MI 48161
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
850-1020 S Monroe St
Monroe, MI 48161
73% Occ. Kroger Shadowed Center – Detroit MSA · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- 72% Occupied, 57,184 SF Kroger Shadow-Anchored Community Shopping Center in Monroe, MI (Detroit MSA)
- Kroger is a Major Traffic Driver – Store is Adjacent to Downtown; Primary Grocery Store Serving Approx. 40% of Monroe’s Population
- Year 1 Cash-on-Cash Return & 22.9% 10-Year Leveraged IRR at List Price with Proposed Financing Terms
- Kroger (NAP) is Leased thru April 2034 – Reliable Long- Term Shadow Anchor & Highly Successful Store Reporting Sales of Over $45 Million in 2019
- High-Yield Value-Add Opportunity Priced Below Replacement Cost at $75/SF; 8.08% CAP on In-Place NOI Offering 11.3%
- Significant Upside Opp. – 11.1% Stabilized CAP Rate in Year 2 via Lease-Up of 15,872 SF Vacancy (18% of GLA) at $6/SF NNN – Potential to Subdivide
PROPERTY FACTS
Property Type
Building Size
57,184 SF
Building Class
C
Year Built/Renovated
1954/1983
Tenancy
Multiple
Building Height
1 Story
Loading Docks
3 Exterior
Building FAR
0.27
Lot Size
4.82 AC
Zoning
CM - Commercial District
Parking
1,200 Spaces (20.98 Spaces per 1,000 SF Leased)
Frontage
946’ on Monroe St
AMENITIES
- Pylon Sign
- Restaurant
- Signage
- Signalized Intersection
PROPERTY TAXES
| Parcel Number | 12-020-214-22 | Improvements Assessment | $1,810,700 |
| Land Assessment | $242,550 | Total Assessment | $2,053,250 |
PROPERTY TAXES
Parcel Number
12-020-214-22
Land Assessment
$242,550
Improvements Assessment
$1,810,700
Total Assessment
$2,053,250
1 of 1
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
