Redevelopment Opportunity with Water
3519 Military St Port Huron, MI 48060
3519 Military St, Port Huron, MI, 48060
$1,500,000
For Sale
$1,500,000
Over 19,000 sq ft facility with water view.
Property Size19,000 SF
Lot Size2.89 Acres
Price / SF$78.95
Days on Market89
Property Features for 3519 Military St
General Information
- Standard status
- Active
- Size
- 19,000 SF
- Lot size
- 2.89 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1967
Listing agency
Real Estate One
(810) 650-7861
Listed by
Mark Ellis · License #6505431194
(810) 650-7861
Source
Elliman
Added: Apr 24 Updated: Jul 10 at 1:18PM Checked: Jul 19 at 5:41AM
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 Real Estate One
Investment Insights
Based on property information with market context.
This property offers over 19,000 square feet of space and presents redevelopment opportunities, including potential for condos, storefronts, or a grocery store. Situated on 2.89 acres, the facility provides an amazing water view. Recent updates include new concrete inside the building, a new office with tiled floors, new paint, trim, doors, and a bathroom. The property also features new plumbing, a roof, furnace, and water heater. The building has 24-foot ceilings and 14-foot overhead doors, allowing semi-trucks to pull inside. According to walkscore.com, the walk score is 33, indicating car-dependent, and the bike score is 30, indicating somewhat bikeable.
Key Highlights
- Over 19,000 sq ft of space on 2.89 acres with amazing water view.
- Recent extensive renovations including new concrete, office, plumbing, roof, furnace, and water heater.
- 24‑foot ceilings and 14‑foot overhead doors allow semi‑truck access.
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $171.0k | $9.00 |
| − Vacancy | −$12.0k | −$0.63 |
| EGI | $159.0k | $8.37 |
| − OpEx | −$23.9k | −$1.26 |
| NOI | $135.2k | $7.11 |
19,000 SF · lease $9.00/SF/yr · vacancy 7.00% · expense 15.00%
Alternative Uses
Best Use
Retail
$3.51M
$3.07M – $4.09M
NOI $245,612 @ 7.0% cap · market cap 16.37%
Second Best
Warehouse
$1.93M
$1.69M – $2.25M
NOI $135,176 @ 7.0% cap · market cap 9.01%
Theoretical Best
Multifamily LT 5
$14.28M
$12.50M – $16.66M
NOI $999,849 @ 7.0% cap · market cap 66.66%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Suarez Auto Sales
Car Dealership
Similar For Sale Nearby
Similar Off Market Nearby
- 32nd Street Storage — 3541 32nd St, Port Huron, MI 48060
FAQs
What type of property is this?
Warehouse - Over 19,000 sq ft facility with water view.
Where is this warehouse located?
The property is located at 3519 Military St Port Huron, MI.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Over 19,000 sq ft of space on 2.89 acres with **amazing water view**.; **Recent extensive renovations** including new concrete, office, plumbing, roof, furnace, and water heater.; 24‑foot ceilings and 14‑foot overhead doors allow semi‑truck access.
