Light Industrial Building
For Sale
$1,100,000
3319 Dove Street, Port Huron, MI 48060
COM/IND/BUS OPP, Port Huron, MI
Property Size14,900 SF
Lot Size0.37 Acres
Price / SF$73.83
Days on Market123
Property Features for 3319 Dove Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking features
Parking Lot
Subdivision
Vanness Moak
Lot features
Main Street
Standard status
Active
APN
28-840-0005-002
Size
14,900 SF
Lot size
0.37 Acres
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
2004
Roof type
Shingle
Listing Agency:
Pilot Property Group - Residential LLC
(586) 254-0900
Listed By:
Anthony Rubino · License #6502425251
(586) 873-5419
Added: Apr 27
Changed: Aug 19
Last Checked: Aug 27 at 11:06PM
MLS# 50205508
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 industrial property includes four buildings totaling 14,900 square feet. Three buildings measure approximately 3,600 SF each, while the fourth contains approximately 4,100 SF. All buildings provide 16-foot ceilings, large overhead doors, forced-air heating, and parking on the site. Constructed in 2004, the property has a shingle roof and public water service.
The property is 75% occupied, with two tenants under new three-year lease agreements. I-L light-industrial zoning supports the existing industrial configuration. Access is available to the Blue Water Bridge international border crossing, I-94, and I-69.
The property is 75% occupied, with two tenants under new three-year lease agreements. I-L light-industrial zoning supports the existing industrial configuration. Access is available to the Blue Water Bridge international border crossing, I-94, and I-69.
Key Highlights
- Four industrial buildings totaling 14,900 square feet
- Three buildings of approximately 3,600 SF and one 4,100 SF building
- 16‑foot ceiling heights with large overhead doors
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
$87,299
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
7.94%
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%
$1,745,980
$1.7M
Cap Rate 7%
$1,247,129
$1.2M
Cap Rate 9%
$969,989
$970.0K
Market Conditions
NOI Build-Up for 14,900 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
$134.1K $9.00/SF
− Vacancy
−$9.4K −$0.63/SF
EGI
$124.7K $8.37/SF
− OpEx
−$37.4K −$2.51/SF
NOI
$87.3K $5.86/SF
Area
St. Clair County, MI
Vacancy
7.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,745,980
Cap Rate 7%
$1,247,129
Cap Rate 9%
$969,989
Alternative Uses
Best Use
Warehouse
$1.51M
$1.33M – $1.77M
NOI $106,006 @ 7.0% cap · market cap 9.64%
Second Best
Industrial
$1.25M
$1.09M – $1.45M
NOI $87,299 @ 7.0% cap · market cap 7.94%
Theoretical Best
Multifamily LT 5
$11.20M
$9.80M – $13.07M
NOI $784,092 @ 7.0% cap · market cap 71.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
75%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
103
Businesses Nearby
Explore this area
Business Placement
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 Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial property - Four heated industrial buildings offer overhead-door access, on-site parking, and light-industrial zoning.
Where is this industrial property located?
The property is located at 3319 Dove Street Port Huron, MI.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Four industrial buildings totaling 14,900 square feet; Three buildings of approximately 3,600 SF and one 4,100 SF building; 16‑foot ceiling heights with large overhead doors
