Waterfront Terminal Facility For
For Sale
Contact for pricing
2380 Military St, Port Huron, MI 48060
Waterfront terminal facility with docking for various vessels.
Property Size45,000 SF
Price / SF$88.89
Days on Market1164
Property Features for 2380 Military St
General Information
Standard status
Active
Size
45,000 SF
Total Parking Spaces
100
Property subtype
Industrial
Zoning
M-1
Investment Type
Owner/User
Listing Agency:
Kramer Commercial Realty
Listed By:
Korissa Kramer, CCIM · License #MI 6502386241
(810) 531-4090
Source:
Crexi
Added: Aug 16, 2023
Changed: Oct 6
Last Checked: Oct 20 at 8:26PM
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
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Investment Insights
Based on property information with market context.
The terminal company underwent renovations in 2003, resulting in a new docking facility designed for cruise boats, Great Lakes ships, and foreign freighters. The dock area is equipped to accommodate various types of watercraft, featuring power pedestals of 110, 220, and 440 volts to support large ships. Stainless steel railings are installed along the pier's length and can be removed in sections to facilitate ship access at any point along the dock. The property size is 45000 square feet.
Key Highlights
- Modern docking facility built in 2003.
- Accommodates cruise boats, Great Lakes ships, and foreign freighters.
- Power pedestals available: 110, 220, and 440 volts.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$263,655
Cap Rate
6.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,273,100
$5.3M
Cap Rate 7%
$3,766,500
$3.8M
Cap Rate 9%
$2,929,500
$2.9M
Market Conditions
NOI Build-Up for 45,000 SF
Gross rent
$405.0K $9.00/SF
− Vacancy
−$28.4K −$0.63/SF
EGI
$376.7K $8.37/SF
− OpEx
−$113.0K −$2.51/SF
NOI
$263.7K $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 Rate 5%
$5,273,100
Cap Rate 7%
$3,766,500
Cap Rate 9%
$2,929,500
Alternative Uses
Best Use
Industrial
$3.77M
$3.30M – $4.39M
NOI $263,655 @ 7.0% cap · market cap 6.59%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$33.83M
$29.60M – $39.47M
NOI $2,368,064 @ 7.0% cap · market cap 59.20%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
292
Businesses Nearby
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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
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Industrial property - Waterfront terminal facility with docking for various vessels.
Where is this industrial property located?
The property is located at 2380 Military St Port Huron, MI.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: Modern docking facility built in 2003.; Accommodates cruise boats, Great Lakes ships, and foreign freighters.; Power pedestals available: 110, 220, and 440 volts.
