Established Drive-Thru Party
For Sale
$219,000
1635 PINE GROVE AVE, Port Huron, MI 48060
Successful drive-thru party store in a prime location.
Property Size900 SF
Lot Size0.17 Acres
Price / SF$243.33
Days on Market718
Property Features for 1635 PINE GROVE AVE
General Information
Standard status
Active
Size
900 SF
Lot size
0.17 Acres
Property subtype
Industrial
Amenities
3
Flat
Building Details
Year Built
1980
Listing Agency:
Pilot Property Group - Residential LLC
(586) 873-5419
Listed By:
Anthony Rubino · License #6502425251
(586) 873-5419
Source:
Xome
Added: Sep 12, 2024
Changed: Aug 25
Last Checked: Aug 30 at 1:16PM
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 Pilot Property Group - Residential LLC
Investment Insights
Based on property information with market context.
This is a long-standing, successful drive-thru party store situated in a favorable location. The parcel size is irregular, encompassing 7,405 square feet. The property is located at the cross streets of Pine Grove, Whipple, and Poplar Streets. The property size is 900 square feet. This property is suitable for grocery and convenience stores, retail properties and spaces, and general commercial real estate purposes.
Key Highlights
- Long‑Standing Successful Drive‑Thru Party Store
- Great Location
- New Lower Price
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
$12,465
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
5.69%
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%
$249,300
$249.3K
Cap Rate 7%
$178,071
$178.1K
Cap Rate 9%
$138,500
$138.5K
Market Conditions
NOI Build-Up for 900 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
$17.1K $18.96/SF
− Vacancy
−$444 −$0.49/SF
EGI
$16.6K $18.47/SF
− OpEx
−$4.2K −$4.62/SF
NOI
$12.5K $13.85/SF
Area
St. Clair County, MI
Vacancy
2.60%
Lease Rate
$18.96 /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%
$249,300
Cap Rate 7%
$178,071
Cap Rate 9%
$138,500
Alternative Uses
Best Use
Specialty Retail
$178.1K
$155.8K – $207.8K
NOI $12,465 @ 7.0% cap · market cap 5.69%
Second Best
Retail
$166.2K
$145.4K – $193.9K
NOI $11,634 @ 7.0% cap · market cap 5.31%
Theoretical Best
Multifamily LT 5
$676.6K
$592.0K – $789.4K
NOI $47,361 @ 7.0% cap · market cap 21.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
675
Businesses Nearby
11k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 75%
Dining 25%
DoubleTree by Hilton Hotel Port Huron
Hotels & Casinos
8,454 visits/mo
0.5 miles
Hungry Howie's Pizza
Dining
2,829 visits/mo
0.1 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.
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Successful drive-thru party store in a prime location.
Where is this grocery and convenience store located?
The property is located at 1635 PINE GROVE AVE Port Huron, MI.
What is the asking price?
The asking price for this property is $219,000.
What are key features of this property?
This property features: Long‑Standing Successful Drive‑Thru Party Store; Great Location; New Lower Price
