Drive-Through Convenience
For Sale
$219,000
1635 Pine Grove Street, Port Huron, MI 48060
COM/IND/BUS OPP, Port Huron, MI
Property Size900 SF
Lot Size0.17 Acres
Price / SF$243.33
Days on Market703
Property Features for 1635 Pine Grove Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Subdivision
Fort Gratiot Military Reservation Sub
Lot features
Main Street
Standard status
Active
APN
06-365-0487-000
Size
900 SF
Lot size
0.17 Acres
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1980
Roof type
Flat
Listing Agency:
Pilot Property Group - Residential LLC
(586) 254-0900
Listed By:
Anthony Rubino · License #6502425251
(586) 873-5419
Added: Sep 24, 2024
Changed: Aug 19
Last Checked: Aug 27 at 11:06PM
MLS# 50156281
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.
The property comprises a 900-square-foot drive-through party store on a 0.17-acre parcel. The building was constructed in 1980 and includes forced-air heating, public water service, and a flat roof.
Located at 1635 Pine Grove Street in Port Huron, Michigan, the offering combines an established retail-oriented building with a compact commercial site. The property is offered for sale.
Located at 1635 Pine Grove Street in Port Huron, Michigan, the offering combines an established retail-oriented building with a compact commercial site. The property is offered for sale.
Key Highlights
- 900‑square‑foot drive‑through party store
- 0.17‑acre commercial parcel
- Constructed in 1980
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
$12,465
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
5.69%
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%
$249,300
$249.3K
Cap Rate 7%
$178,071
$178.1K
Cap Rate 9%
$138,500
$138.5K
Market Conditions
NOI Build-Up for 900 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
$17.1K $18.96/SF
− Vacancy
−$444 −$0.49/SF
EGI
$16.6K $18.47/SF
− OpEx
−$4.2K −$4.62/SF
NOI
$12.5K $13.85/SF
Area
St. Clair County, MI
Vacancy
2.60%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
25.00%
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%
$249,300
Cap Rate 7%
$178,071
Cap Rate 9%
$138,500
Alternative Uses
Best Use
Specialty Retail
$178.1K
$155.8K – $207.8K
NOI $12,465 @ 7.0% cap · market cap 5.69%
Second Best
Retail
$166.2K
$145.4K – $193.9K
NOI $11,634 @ 7.0% cap · market cap 5.31%
Theoretical Best
Multifamily LT 5
$676.6K
$592.0K – $789.4K
NOI $47,361 @ 7.0% cap · market cap 21.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
675
Businesses Nearby
11k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 75%
Dining 25%
DoubleTree by Hilton Hotel Port Huron
Hotels & Casinos
8,454 visits/mo
0.5 miles
Hungry Howie's Pizza
Dining
2,829 visits/mo
0.1 miles
Demographics for 48060, MI
39,775
Population
18,066
Households
2.2
Avg Household Size
39
Median Age
17%
College-Educated
89%
High-School Grad
20.7 sq mi
ZIP Area
1,921
Density / Sq Mi
$51,342
Median Household Income
$32,017
Median Earnings
$1,005
Median Rent
$152,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Existing retail improvements feature forced-air heating, public water service, and a flat roof.
Where is this grocery and convenience store located?
The property is located at 1635 Pine Grove Street Port Huron, MI.
What is the asking price?
The asking price for this property is $219,000.
What are key features of this property?
This property features: 900‑square‑foot drive‑through party store; 0.17‑acre commercial parcel; Constructed in 1980
