Corner-Lot Mixed-Use
For Sale
$330,000
102 S 3rd Street, Saint Clair, MI 48079
COM/IND/BUS OPP, Saint Clair, MI
Property Size2,582 SF
Lot Size0.19 Acres
Price / SF$127.81
Days on Market220
Property Features for 102 S 3rd Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Subdivision
Map Of St Clair
Lot features
Main Street
Standard status
Active
APN
07-049-0016-000
Size
2,582 SF
Lot size
0.19 Acres
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1953
Roof type
Shingle
Listing Agency:
Pilot Property Group - Residential LLC
(586) 254-0900
Listed By:
Anthony Rubino · License #6502425251
(586) 873-5419
Added: Jan 19
Changed: Aug 19
Last Checked: Aug 27 at 11:06PM
MLS# 50197871
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property at 102 S Third Street contains 2,582 square feet on a 0.19-acre corner lot. Built in 1953, the building has a shingle roof, forced-air heating, public water service, and an on-site parking lot. Commercial zoning supports consideration of office, retail, professional service, and owner-user applications, subject to buyer verification of permitted uses.
The property is positioned in downtown St. Clair near the St. Clair River, established businesses, restaurants, and municipal offices. Its corner placement provides access from two street frontages, while the surrounding downtown setting supports walkable connections to nearby commercial and civic destinations. The site offers a compact existing building with parking and a central location for a range of commercial operations.
The property is positioned in downtown St. Clair near the St. Clair River, established businesses, restaurants, and municipal offices. Its corner placement provides access from two street frontages, while the surrounding downtown setting supports walkable connections to nearby commercial and civic destinations. The site offers a compact existing building with parking and a central location for a range of commercial operations.
Key Highlights
- 2,582‑square‑foot mixed‑use building on a 0.19‑acre parcel
- Commercially zoned corner‑lot property in downtown St. Clair
- Built in 1953 with a shingle roof and forced‑air heating
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,816
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.40%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$356,320
$356.3K
Cap Rate 7%
$254,514
$254.5K
Cap Rate 9%
$197,956
$198.0K
Market Conditions
NOI Build-Up for 2,582 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$31.0K $12.00/SF
− Vacancy
−$2.5K −$0.96/SF
EGI
$28.5K $11.04/SF
− OpEx
−$10.7K −$4.14/SF
NOI
$17.8K $6.90/SF
Area
St. Clair County, MI
Vacancy
8.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$356,320
Cap Rate 7%
$254,514
Cap Rate 9%
$197,956
Alternative Uses
Best Use
Mixed Use
$254.5K
$222.7K – $296.9K
NOI $17,816 @ 7.0% cap · market cap 5.40%
Second Best
Office B
$127.0K
$111.1K – $148.2K
NOI $8,889 @ 7.0% cap · market cap 2.69%
Theoretical Best
Multifamily LT 5
$1.94M
$1.70M – $2.26M
NOI $135,874 @ 7.0% cap · market cap 41.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
412
Businesses Nearby
Explore this area
Business Placement
Demographics for 48079, MI
12,553
Population
5,403
Households
2.3
Avg Household Size
45
Median Age
25%
College-Educated
95%
High-School Grad
41.9 sq mi
ZIP Area
300
Density / Sq Mi
$80,313
Median Household Income
$46,643
Median Earnings
$1,090
Median Rent
$276,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercially zoned corner property with a parking lot, forced-air heat, and public water.
Where is this mixed-use property located?
The property is located at 102 S 3rd Street Saint Clair, MI.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: 2,582‑square‑foot mixed‑use building on a 0.19‑acre parcel; Commercially zoned corner‑lot property in downtown St. Clair; Built in 1953 with a shingle roof and forced‑air heating
