REIT SALE | Former Medical Office | 16K VPD | 15,804 SF | 6.3 Acres | Detroit CSA

Description:

Ri Marketplace Online Auction September 8th - 10th, 2025
Register to bid on Marketplace:

https://rimarketplace.com/auction/2646/reit-sale-former-medical-office-16k-vpd-15-804-sf-6.3-acres-detroit-csa?utm_source=brevitas&utm_medium=listing&utm_campaign=external&utm_content=office_2646

Marcus & Millichap and RI Marketplace are pleased to present a vacant medical office building located at 1180 N. Monroe Street in Monroe, MI 48162 (the “Property”). Formerly occupied by ProMedica Physicians Eye Care, the Property is being offered significantly below replacement cost providing an exceptional opportunity for owner-users or investors to acquire a well-located medical/office asset in an established and accessible submarket within southeastern Michigan’s Detroit MSA. FIRST BID MEETS RESERVE!

Originally constructed in 1995, with an addition completed in 2006–2007, the ±15,804 SF single-story, free-standing medical office building is situated on an expansive ±6.2997-acre parcel (±274,416 SF). The Property offers abundant surface parking, with a total of 125 spaces, including 119 standard and 6 handicap-accessible stalls. The building was previously configured as a fully operational optometry clinic, featuring multiple exam rooms, private offices, a spacious reception area, and existing medical infrastructure, making it turnkey-ready for another healthcare user or easily adaptable for general office or retail conversion. Previously occupied under a full-service lease structure, the Property presents a compelling value-add opportunity through re-tenanting at long-term market rates (CoStar estimated rents: ±$12/SF Full-Service Office). Zoned C-2 (General Commercial), the site permits a broad range of medical, professional, and general commercial uses, enhancing long-term repositioning flexibility and investment potential.

The Property is strategically located in Monroe, Michigan which is equidistant between two major Midwest markets, ±30-mi south of Detroit and ±30-mi north of Toledo. Positioned along North Monroe Street (±17,886 VPD), the site offers seamless regional connectivity and direct access to the greater area via I-75 with ±62,342 vehicles passing the area daily (3-mi). The Property benefits from its location near medical demand drivers, including ProMedica Monroe Regional Hospital (±0.5-mi) and the only acute care facility in Monroe County, the 238-bed hospital serves as a key medical hub, admitting nearly 9,850 patients annually and supporting a consistent need for nearby medical office space. The Property also benefits from proximity to the headquarters of La-Z-Boy Inc., located within ±0.25-mi with over 10k employees, as well as nearby educational institutions like Monroe County Community College, which serves more than 4,000 students. Recreational attractions such as the River Raisin National Battlefield Park, Monroe County Museum, and Sterling State Park along Lake Erie (±1-mi away) enhance the area’s livability and year-round activity. Ideally situated within a dense and established trade area, the Property combines strong local demand with direct access to key interstate corridors and regional population centers, making it a compelling location for healthcare providers, professional services, or institutional users seeking space in a stable, accessible, and growing market. The 1-mi area supports ±7,761 people with an average household income (AHHI) of ±$78,859 and over 54k residents with an AHHI of nearly ±$85k in a 5-mi trade area supporting continued demand for medical, office, and retail services.


Jerry Helmer
c/o Fisher Auction Company Inc.
License: 6504064915

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