Automotive Service
For Sale
Contact for pricing
Pending
1612 Lapeer Avenue, Port Huron, MI 48060
Automotive-focused building with updated exterior, expanded parking, and an added rear garage door for flexible operations.
Property Size1,355 SF
Days on Market381
Property Features for 1612 Lapeer Avenue
General Information
Standard status
Pending
Size
1,355 SF
Total Parking Spaces
16
Property subtype
Retail, Office
Net Operating Income
$9,999
Additional Details
Highway Access
Yes
Drive-In Doors
1
Building Details
Year Built
1955
Year Renovated
2021
Listing Agency:
INITIA Real Estate
(810) 334-6172
Listed By:
Rachelle Bayliss · License #6501392151
Source:
Crexi
Added: Jul 28, 2025
Changed: Aug 11
Last Checked: Aug 10 at 12:29PM
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 versatile commercial building was previously used as an automotive sales and service hub and is configured with interior office space and a bathroom. Recent improvements include exterior roofing, siding, and gutters completed in 2021, along with vinyl flooring and a soffit ceiling installed throughout the main office and bathroom. The interior has been redesigned into a two-room layout, and the main office has fully insulated walls to support more comfortable year-round use. A garage door was added to the back of the building, creating practical drive-in/drive-out access for service-related activities or delivery needs.
The property is located at 1612 Lapeer Avenue in Port Huron, just minutes from I-94 and Downtown Port Huron, supporting convenient customer and staff access. The seller expanded the back parking lot to accommodate 16 cars, providing on-site vehicle capacity for customers, employees, or job-related staging.
For buyers or tenants seeking a building with an automotive-ready configuration and a dedicated rear garage door, this asset offers a solid starting point. The combination of office improvements, updated exterior components, and increased parking capacity can support a range of service-oriented businesses looking for a purpose-built facility with room to operate. The seller is offering this property for sale and invites qualified offers.
The property is located at 1612 Lapeer Avenue in Port Huron, just minutes from I-94 and Downtown Port Huron, supporting convenient customer and staff access. The seller expanded the back parking lot to accommodate 16 cars, providing on-site vehicle capacity for customers, employees, or job-related staging.
For buyers or tenants seeking a building with an automotive-ready configuration and a dedicated rear garage door, this asset offers a solid starting point. The combination of office improvements, updated exterior components, and increased parking capacity can support a range of service-oriented businesses looking for a purpose-built facility with room to operate. The seller is offering this property for sale and invites qualified offers.
Key Highlights
- Commercial building built in 1955, previously used as an automotive sales and service hub
- Exterior upgrades include roofing, siding, and gutters completed in 2021
- Parking lot expanded at the back of the building 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
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
Lease Details
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
308
Businesses Nearby
Well-served
Demand for This Use
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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- Agnew's Service — 936 Griswold St, Port Huron, MI 48060
- Lee's Auto & Truck Repair — 2403 Griswold St, Port Huron, MI 48060
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Frequently Asked Questions
What type of property is this?
Auto shop - Automotive-focused building with updated exterior, expanded parking, and an added rear garage door for flexible operations.
Where is this auto shop located?
The property is located at 1612 Lapeer Avenue 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: Commercial building built in 1955, previously used as an automotive sales and service hub; Exterior upgrades include roofing, siding, and gutters completed in 2021; Parking lot expanded at the back of the building to accommodate 16 cars
