1140 Monroe Ave NW

Investment Overview

1140 Monroe Ave NW is a 45,417 SF mixed-use building situated on 2.4 acres. The property is fully leased to a diverse mix of office and retail tenants, including Network 180, Med 1, Subway, and Midwest Movement Collective. Priced at $5,275,000 ($116/SF), the asset offers a projected stabilized cap rate of 7.5%, providing strong in-place yield. The property has long-standing tenants, several of whom have occupied their spaces for over two decades and recently extended their leases. The largest tenant, occupying a significant portion of the building, is locked in on long-term leases running through 2034. Over $275,000 in capital improvements have been completed in the past three years, including upgrades to the roof, HVAC, elevator systems, parking lot, and tenant improvements/lease up. These improvements have significantly reduced deferred maintenance and positioned the asset for long-term operational stability.