Commercial Office Building Near
For Sale
$700,000
933 Pine Grove Ave, Port Huron, MI 48060
6,865 SF commercial office building in downtown Port Huron.
Property Size6,865 SF
Price / SF$101.97
Days on Market544
Property Features for 933 Pine Grove Ave
General Information
Standard status
Active
Size
6,865 SF
Class
B
Total Parking Spaces
30
Property subtype
Office, Healthcare
Zoning
CBD
Building Details
Building Size
6,865 SF
Year Built
1980
Buildings
1
Stories
1
Listing Agency:
Kramer Commercial Realty
Listed By:
Korissa Kramer · License #6502386241
(810) 531-4090
Source:
Cpix.resimplifi
Added: Mar 19, 2025
Changed: Sep 4
Last Checked: Sep 13 at 4:29AM
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 6,865 square foot commercial office building is located near downtown Port Huron, two blocks from McLaren Hospital. The property features solid brick construction and is fully sprinklered. An expansive full basement provides additional space and ample storage. The building includes a generator. The versatile space is suitable for a variety of commercial office ventures. The property offers great visibility, making it ideal for attracting clients or customers.
Key Highlights
- Prime location near downtown Port Huron and McLaren Hospital.
- 6,865 square foot building suitable for a variety of commercial uses.**
- Solid brick construction with timeless appeal.
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
$23,633
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
3.38%
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%
$472,660
$472.7K
Cap Rate 7%
$337,614
$337.6K
Cap Rate 9%
$262,589
$262.6K
Market Conditions
NOI Build-Up for 6,865 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
$41.2K $6.00/SF
− Vacancy
−$9.7K −$1.41/SF
EGI
$31.5K $4.59/SF
− OpEx
−$7.9K −$1.15/SF
NOI
$23.6K $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%
$472,660
Cap Rate 7%
$337,614
Cap Rate 9%
$262,589
Alternative Uses
Best Use
Office B
$337.6K
$295.4K – $393.9K
NOI $23,633 @ 7.0% cap · market cap 3.38%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$5.16M
$4.52M – $6.02M
NOI $361,261 @ 7.0% cap · market cap 51.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,351
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - 6,865 SF commercial office building in downtown Port Huron.
Where is this office building located?
The property is located at 933 Pine Grove Ave Port Huron, MI.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Prime location near downtown Port Huron and McLaren Hospital.; 6,865 square foot building suitable for a variety of commercial uses.**; Solid brick construction with timeless appeal.
