Medical Office Near Lake
For Sale
$350,000
2609 Electric Ave A, Port Huron, MI 48060
Well-maintained medical office space adjacent to Lake Huron Hospital.
Property Size5,780 SF
Lot Size0.37 Acres
Price / SF$60.55
Days on Market164
Property Features for 2609 Electric Ave A
General Information
Standard status
Active
Size
5,780 SF
Lot size
0.37 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$11,375
Building Details
Year Built
1975
Units
1
Listing Agency:
Lasco Real Estate Group
(248) 840-6059
Listed By:
Jennifer Lasco · License #6502402604
(248) 840-6059
Source:
Elliman
Added: Mar 11
Changed: Aug 10
Last Checked: Aug 20 at 10:21AM
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 Lasco Real Estate Group
Investment Insights
Based on property information with market context.
This 5780 square foot medical office is located in the parking lot of Lake Huron Hospital. The space is suited for a multi-doctor practice and features a large waiting room and an administrative office with built-in desks and filing systems. There are numerous patient exam and appointment rooms. The interior features neutral decor and is in excellent condition. Ample on-site parking is available for staff and patients. The property offers visibility, easy access, and a referral base. It is a turnkey solution for expanding or establishing a practice in a medical community.
Key Highlights
- Prime location adjacent to Lake Huron Hospital, offering outstanding visibility and easy access.
- Move‑in ready 5780 sqft. medical office, well‑maintained and designed for efficiency.
- Ideally suited for a multi‑doctor practice with numerous patient exam and appointment rooms.
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
$19,898
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%
$397,960
$398.0K
Cap Rate 7%
$284,257
$284.3K
Cap Rate 9%
$221,089
$221.1K
Market Conditions
NOI Build-Up for 5,780 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
$34.7K $6.00/SF
− Vacancy
−$8.1K −$1.41/SF
EGI
$26.5K $4.59/SF
− OpEx
−$6.6K −$1.15/SF
NOI
$19.9K $3.44/SF
Area
St. Clair County, MI
Vacancy
23.50%
Lease Rate
$6.00 /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%
$397,960
Cap Rate 7%
$284,257
Cap Rate 9%
$221,089
Alternative Uses
Best Use
Healthcare Medical
$510.7K
$446.9K – $595.8K
NOI $35,748 @ 7.0% cap · market cap 10.21%
Second Best
Office B
$284.3K
$248.7K – $331.6K
NOI $19,898 @ 7.0% cap · market cap 5.69%
Theoretical Best
Multifamily LT 5
$4.35M
$3.80M – $5.07M
NOI $304,165 @ 7.0% cap · market cap 86.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
426
Businesses Nearby
Under-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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Frequently Asked Questions
What type of property is this?
Medical Office Space - Well-maintained medical office space adjacent to Lake Huron Hospital.
Where is this medical office space located?
The property is located at 2609 Electric Ave A Port Huron, MI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Prime location adjacent to Lake Huron Hospital, offering outstanding visibility and easy access.; Move‑in ready 5780 sqft. medical office, well‑maintained and designed for efficiency.; Ideally suited for a multi‑doctor practice with numerous patient exam and appointment rooms.
