Automotive Service and Sales
For Sale
$125,000
1612 Lapeer Ave, Port Huron, MI 48060
Former automotive sales and service building with upgraded exterior, insulated office, and added rear garage door for flexible operations.
Property Size1,355 SF
Price / SF$92.25
Days on Market381
Property Features for 1612 Lapeer Ave
General Information
Standard status
Active
Size
1,355 SF
Total Parking Spaces
16
Additional Details
Highway Access
Yes
Drive-In Doors
1
Taxes and HOA fees
Annual Taxes
$5,695
Building Details
Year Renovated
2021
Listing Agency:
INITIA Real Estate
(810) 334-6172
Listed By:
Rachelle Bayliss · License #6501392151
(810) 334-6172
Source:
Exprealty
Added: Jul 29, 2025
Changed: Aug 8
Last Checked: Aug 8 at 7:55AM
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 was previously used as an automotive sales and service hub and has been updated for a new tenant or buyer. Reported improvements include roofing, siding, and gutters completed in 2021, interior vinyl flooring and a soffit ceiling in the main office and bathroom, and a redesigned interior layout into two larger rooms. The main office walls are fully insulated, and the back of the building includes a newly added garage door, supporting drive-in access for day-to-day work.
The property is located at 1612 Lapeer Ave in Port Huron, MI, with convenience to I-94 and Downtown Port Huron described in the remarks. Parking has been expanded at the rear of the building to accommodate 16 cars, which may support customer arrivals or staff overflow depending on the use.
For buyers and operators seeking an automotive-oriented or light commercial space, the combination of office finish updates and functional rear access can fit a range of service and retail concepts that benefit from a dedicated office and practical work area. The building’s recent exterior upgrades and the added parking capacity provide a straightforward starting point for an owner-operator or business looking to re-purpose an existing automotive facility.
The property is located at 1612 Lapeer Ave in Port Huron, MI, with convenience to I-94 and Downtown Port Huron described in the remarks. Parking has been expanded at the rear of the building to accommodate 16 cars, which may support customer arrivals or staff overflow depending on the use.
For buyers and operators seeking an automotive-oriented or light commercial space, the combination of office finish updates and functional rear access can fit a range of service and retail concepts that benefit from a dedicated office and practical work area. The building’s recent exterior upgrades and the added parking capacity provide a straightforward starting point for an owner-operator or business looking to re-purpose an existing automotive facility.
Key Highlights
- Former automotive sales and service building with redesigned interior and a 2‑room office layout
- Exterior upgrades include roofing, siding, and gutters completed in 2021
- Expanded rear parking lot to accommodate 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
6.35%
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 14.01%
Second Best
Industrial
$113.4K
$99.2K – $132.3K
NOI $7,939 @ 7.0% cap · market cap 6.35%
Theoretical Best
Multifamily LT 5
$1.02M
$891.3K – $1.19M
NOI $71,305 @ 7.0% cap · market cap 57.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
308
Businesses Nearby
92k
Monthly Visits Nearby
Well-served
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
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Frequently Asked Questions
What type of property is this?
Auto shop - Former automotive sales and service building with upgraded exterior, insulated office, and added rear garage door for flexible operations.
Where is this auto shop located?
The property is located at 1612 Lapeer Ave Port Huron, MI.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: Former automotive sales and service building with redesigned interior and a 2‑room office layout; Exterior upgrades include roofing, siding, and gutters completed in 2021; Expanded rear parking lot to accommodate 16 cars
