Medical Office Building with Step-Free
For Sale
$308,000
115 Main Street, Marine City, MI 48039
Reception space, three restrooms, and parking for over 15 vehicles support a functional healthcare-oriented layout.
Property Size7,000 SF
Price / SF$44
Days on Market130
Property Features for 115 Main Street
General Information
Standard status
Active
Size
7,000 SF
Property subtype
Commercial
Zoning
Commercial, Multiple
Lease Term
Cash, Conventional, Other
Taxes and HOA fees
Annual Taxes
$6,782
Amenities
easy access entrances
restrooms
common/reception area
building sign
pole sign
Building Details
Building Size
7,000 SF
Year Built
9999
Listing Agency:
Premier Properties Real Estate LLC
(810) 404-1584
Listed By:
Lawrence D Palleschi · License #6506041487
(810) 404-1584
Source:
Sabudarealty
Added: Apr 13
Changed: Aug 19
Last Checked: Aug 20 at 1:14PM
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 Premier Properties Real Estate LLC
Investment Insights
Based on property information with market context.
This 7,000-square-foot medical office property is configured with a common reception area, three restrooms, and three entrances without steps. The building currently operates as a healthcare service location and includes two natural gas furnaces with A/C units. Furniture and fixtures may also be negotiated.
Located in Downtown Marine City, the property offers both on-street parking and a lot accommodating over 15 vehicles. Signage includes a building sign and a pole sign. Commercial, Multiple zoning is in place.
Located in Downtown Marine City, the property offers both on-street parking and a lot accommodating over 15 vehicles. Signage includes a building sign and a pole sign. Commercial, Multiple zoning is in place.
Key Highlights
- 7,000‑square‑foot medical office property in Downtown Marine City
- Three entrances with no steps
- Parking for over 15 vehicles through on‑street and lot parking
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
$24,098
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
7.82%
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%
$481,960
$482.0K
Cap Rate 7%
$344,257
$344.3K
Cap Rate 9%
$267,756
$267.8K
Market Conditions
NOI Build-Up for 7,000 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
$42.0K $6.00/SF
− Vacancy
−$9.9K −$1.41/SF
EGI
$32.1K $4.59/SF
− OpEx
−$8.0K −$1.15/SF
NOI
$24.1K $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%
$481,960
Cap Rate 7%
$344,257
Cap Rate 9%
$267,756
Alternative Uses
Best Use
Healthcare Medical
$618.5K
$541.2K – $721.6K
NOI $43,294 @ 7.0% cap · market cap 14.06%
Second Best
Office B
$344.3K
$301.2K – $401.6K
NOI $24,098 @ 7.0% cap · market cap 7.82%
Theoretical Best
Multifamily LT 5
$5.26M
$4.60M – $6.14M
NOI $368,366 @ 7.0% cap · market cap 119.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
169
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48039, MI
7,485
Population
3,701
Households
2
Avg Household Size
46
Median Age
20%
College-Educated
92%
High-School Grad
23.0 sq mi
ZIP Area
325
Density / Sq Mi
$76,304
Median Household Income
$42,715
Median Earnings
$879
Median Rent
$170,800
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?
Medical Office Space - Reception space, three restrooms, and parking for over 15 vehicles support a functional healthcare-oriented layout.
Where is this medical office space located?
The property is located at 115 Main Street Marine City, MI.
What is the asking price?
The asking price for this property is $308,000.
What are key features of this property?
This property features: 7,000‑square‑foot medical office property in Downtown Marine City; Three entrances with no steps; Parking for over 15 vehicles through on‑street and lot parking
