Downtown Port Huron Mixed-Use
For Sale
$1,700,000
112 Grand River Ave, Port Huron, MI 48060
Two-story, 42,840 SF building in downtown Port Huron.
Property Size42,840 SF
Price / SF$39.68
Days on Market2338
Property Features for 112 Grand River Ave
General Information
Standard status
Active
Size
42,840 SF
Class
B
Total Parking Spaces
285
Property subtype
Office
Zoning
CBD
Building Details
Building Size
42,840 SF
Year Built
1959
Year Renovated
2005
Buildings
1
Stories
2
Listing Agency:
Kramer Commercial Realty
Listed By:
Korissa Kramer · License #6502386241
(810) 531-4090
Source:
Cpix.resimplifi
Added: Apr 10, 2020
Changed: Sep 3
Last Checked: Sep 3 at 8:28AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Kramer Commercial Realty
Investment Insights
Based on property information with market context.
This attractive two-story building offers a total of 42,840 square feet. Zoned CBD, the property is suitable for various uses, including call centers, engineering firms, and general office purposes. It is situated in a prime downtown Port Huron location and provides ample parking. The building is adjacent to the St. Clair River, offering some water views.
Key Highlights
- Excellent downtown Port Huron location
- Large leasable area: 42,840 SF
- Zoned CBD, suitable for various uses (call center, engineering, general office)
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
$147,477
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
8.68%
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%
$2,949,540
$2.9M
Cap Rate 7%
$2,106,814
$2.1M
Cap Rate 9%
$1,638,633
$1.6M
Market Conditions
NOI Build-Up for 42,840 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
$257.0K $6.00/SF
− Vacancy
−$60.4K −$1.41/SF
EGI
$196.6K $4.59/SF
− OpEx
−$49.2K −$1.15/SF
NOI
$147.5K $3.44/SF
Area
St. Clair County, MI
Vacancy
23.50%
Lease Rate
$6.00 /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%
$2,949,540
Cap Rate 7%
$2,106,814
Cap Rate 9%
$1,638,633
Alternative Uses
Best Use
Mixed Use
$4.22M
$3.69M – $4.93M
NOI $295,596 @ 7.0% cap · market cap 17.39%
Second Best
Office B
$2.11M
$1.84M – $2.46M
NOI $147,477 @ 7.0% cap · market cap 8.68%
Theoretical Best
Multifamily LT 5
$32.21M
$28.18M – $37.57M
NOI $2,254,397 @ 7.0% cap · market cap 132.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,108
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story, 42,840 SF building in downtown Port Huron.
Where is this mixed-use property located?
The property is located at 112 Grand River Ave Port Huron, MI.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Excellent downtown Port Huron location; Large leasable area: 42,840 SF; Zoned CBD, suitable for various uses (call center, engineering, general office)
