Medical Office Building with
For Sale
$308,000
115 Main Street, Marine City, MI 48039
COMMERCIAL - Marine City, MI
Property Size7,000 SF
Lot Size0.36 Acres
Price / SF$44
Days on Market116
Property Features for 115 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial, Mixed Use
Exterior features
Wheelchair Access
Accessibility
Accessible Approach with Ramp
Lot features
Main Street
Subdivision
Marine City (74027)
Standard status
Active
APN
02-475-0304-000
Size
7,000 SF
Lot size
0.36 Acres
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
three easy access entrances
no steps
three restrooms
two natural gas furnaces and A/C units
common/reception area
building sign
pole sign
Listing Agency:
Premier Properties Real Estate LLC · Coldwell Banker Real Estate
(810) 359-2000
Listed By:
Lawrence Palleschi · License #6506041487
(810) 404-1584
Added: Apr 13
Changed: Aug 6
Last Checked: Aug 6 at 11:06PM
MLS# 50204147
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 professional medical office building is currently operating as a healthcare service and is set up for comfortable day-to-day access. The layout includes a common/reception area and three restrooms. The property offers three easy-access entrances with no steps, along with two natural gas furnaces and A/C units. Signage includes both a building sign and a pole sign, and fixtures and furniture may be negotiated with the sale.
The building provides on-street and lot parking for more than 15 vehicles, supporting patient and visitor access.
With multiple entrances and a functional front-office configuration, the space may be well suited for an established operation or a new user looking to move in with existing improvements.
The building provides on-street and lot parking for more than 15 vehicles, supporting patient and visitor access.
With multiple entrances and a functional front-office configuration, the space may be well suited for an established operation or a new user looking to move in with existing improvements.
Key Highlights
- Downtown Marine City professional building currently used as a healthcare service
- Three easy‑access entrances with no steps plus wheelchair access and an accessible ramp approach
- On‑street and lot parking for 15+ vehicles
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
203
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office building with three step-free entrances, a common reception area, and parking for over 15 vehicles.
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: Downtown Marine City professional building currently used as a healthcare service; Three easy‑access entrances with no steps plus wheelchair access and an accessible ramp approach; On‑street and lot parking for 15+ vehicles
