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    1203 Varney St Port Huron, MI 48060

    Sponsored
    Picture of Mixed-use properties at Varney St 1203, Port Huron, MI
    For Sale
    $80,000

    1 Story, Multi-Family - Port Huron, MI

    Property size:
    2,032 SF
    Lot size:
    0.07 Acres
    Days on Market:
    2
    Last Refresh:
    Feb 27 at 2:06 pm

    Property Features for 1203 Varney St

    General Information

    Property type
    Residential Multi Family
    Standard status
    Active
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2
    Bedrooms
    2
    Bathrooms
    2
    APN
    74-06-292-0018-000
    Basement Y/N
    1
    Size
    2,032 SF
    Lot size
    0.07 Acres

    Utilities

    Heating system
    Forced Air

    Building Details

    Year built
    1940
    Floors in Building
    1
    Number of units
    2
    Architectural style
    Other

    We can help!

    Listing Contact
    Jeanne Frank

    Keller Williams Realty Macomb-St. Clair Market Center (586) 949-0200

    Listing agent Jeanne Frank (586) 949-0200 License #6506036996

    Listing date Feb 26, 2026

    MLS# 50200227 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Mixed-Use Property in Port Huron

    This mixed-use property in Port Huron, MI, offers a business and rental income opportunity. Updates are currently in progress, including updated plumbing and electrical systems, new drywall in the kitchen, dining area, and bathroom, and new flooring in most rooms of the back unit, excluding the dining room. The ceilings have been raised to 10 feet. The front area is suitable for a commercial business and features two large rooms, a storefront window, a half bath with a deep sink, and a potential walk-in fridge. The room dimensions are 23' 1" x 30' and 11' 6" x 24' 3". The back residential area includes 2 bedrooms, 1 full bath, a dining room with new flooring, a living room, 2 storage closets, and a kitchen. The property has separate electric meters, and the two furnaces were replaced in 2010. Water is on one meter. The roof was redone in 2016. A small shed is located in the back by the driveway. The property is situated on a corner lot of 0.07 acres. The building size is 2032 square feet. A past tenant in the back unit paid $900 per month.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Port Huron
    County
    St. Clair
    State
    Michigan
    Longitude
    -82.437596
    Latitude
    42.979432

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      Port Huron Mixed-Use Opportunity

      Commercial space with residential area in excellent corner location.
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    FAQs

    What type of property is this?
    Mixed-use property - Updated mixed-use property with commercial and residential spaces.
    Where is this mixed-use property located?
    The property is located at 1203 Varney St Port Huron, MI.
    What is the asking price?
    The asking price for this property is $80,000.
    What are key features of this property?
    This property features: - Excellent Corner Location: Provides high visibility and accessibility.; - Live/Work Opportunity: Operate a commercial business in the front and reside in the back residential area.; - Rental Income Potential: Back unit previously rented for $900/month.
    (810) 650-9332
    Request Owner's contact information
    1203 Varney St Port Huron, MI 48060
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    Port Huron, MI 48060
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1203 Varney St Port Huron, MI 48060
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    We can help!
    Listing Contact
    Jeanne Frank
    Real Estate License ID: 6506036996
    (810) 650-9332 (586) 949-0200
    Learn more
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