Versatile Commercial Building in Port
For Sale
$100,000
1612 Lapeer Ave, Port Huron, MI 48060
Commercial building suitable for various business ventures, conveniently located.
Property Size1,355 SF
Lot Size0.47 Acres
Days on Market257
Property Features for 1612 Lapeer Ave
General Information
Standard status
Active
Size
1,355 SF
Lot size
0.47 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$5,695
Building Details
Building Size
1,355 SF
Year Built
1955
Listing Agency:
INITIA Real Estate
(810) 334-6172
Listed By:
Rachelle Bayliss · License #6501392151
(810) 334-6172
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 8
Last Checked: Aug 8 at 12:48PM
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 INITIA Real Estate
Investment Insights
Based on property information with market context.
This commercial building, previously an automotive sales and service hub, is located minutes from I-94 and downtown Port Huron. The property has undergone numerous upgrades to both the exterior and interior, including roofing, siding, and gutters in 2021. The parking lot was expanded to accommodate 16 cars. The interior features vinyl flooring and a soffit ceiling throughout the main office and bathroom. The interior has been redesigned to a two-room layout. A garage door has been added to the back of the building, and the walls in the main office are fully insulated. This property is suitable for launching a new business or for an established company seeking an ideal location.
Key Highlights
- Versatile commercial building suitable for various business ventures.
- Recent upgrades including roofing, siding, gutters (2021), flooring, and insulation.
- Expanded parking lot accommodating 16 cars.
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
$7,939
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%
$158,780
$158.8K
Cap Rate 7%
$113,414
$113.4K
Cap Rate 9%
$88,211
$88.2K
Market Conditions
NOI Build-Up for 1,355 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
$12.2K $9.00/SF
− Vacancy
−$854 −$0.63/SF
EGI
$11.3K $8.37/SF
− OpEx
−$3.4K −$2.51/SF
NOI
$7.9K $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%
$158,780
Cap Rate 7%
$113,414
Cap Rate 9%
$88,211
Alternative Uses
Best Use
Retail
$250.2K
$219.0K – $291.9K
NOI $17,516 @ 7.0% cap · market cap 17.52%
Second Best
Industrial
$113.4K
$99.2K – $132.3K
NOI $7,939 @ 7.0% cap · market cap 7.94%
Theoretical Best
Multifamily LT 5
$1.02M
$891.3K – $1.19M
NOI $71,305 @ 7.0% cap · market cap 71.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
308
Businesses Nearby
92k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 62%
Shops & Services 15%
Superstores 13%
Groceries 8%
Taco Bell
Dining
13,592 visits/mo
0.2 miles
Tim Hortons
Dining
12,081 visits/mo
0.3 miles
Big Lots
Superstores
11,778 visits/mo
0.4 miles
Dollar Tree
Shops & Services
11,526 visits/mo
0.2 miles
Burger King
Dining
11,476 visits/mo
0.4 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Econo Car Rental and Detail LLC — Call for Appt: 7116 Lakeshore Rd, Lakeport, MI 48059, 2403 Griswold St, Port Huron, MI 48060
Frequently Asked Questions
What type of property is this?
Automotive property - Commercial building suitable for various business ventures, conveniently located.
Where is this automotive property located?
The property is located at 1612 Lapeer Ave Port Huron, MI.
What is the asking price?
The asking price for this property is $100,000.
What are key features of this property?
This property features: Versatile commercial building suitable for various business ventures.; Recent upgrades including roofing, siding, gutters (2021), flooring, and insulation.; Expanded parking lot accommodating 16 cars.
