Medical Office Next to
For Sale
$350,000
2609 Electric Avenue, Port Huron, MI 48060
COMMERCIAL - Port Huron, MI
Property Size5,400 SF
Lot Size0.37 Acres
Price / SF$64.81
Days on Market345
Property Features for 2609 Electric Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Interior features
Broadband
Subdivision
Car Medical BLDG Condo
Elementary school district
Port Huron
Middle school district
Port Huron
High school district
Port Huron
Directions
Please Enter Address in Navigational Tools Available. once inside the building, follow the entry hallway, make first left turn and you are at the office door.
Standard status
Active
APN
06-922-0001-000
Size
5,400 SF
Lot size
0.37 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
UNIT A C.A.R. MEDICAL BUILDING CONDOMINIUM, ST CLAIR COUNTY CONDOMINIUM SUBDIVISION PLAN NO 92 REC LIBER 1252 PAGES 896
Tax Annual Amount
11375
Legal Description
UNIT A C.A.R. MEDICAL BUILDING CONDOMINIUM, ST CLAIR COUNTY CONDOMINIUM SUBDIVISION PLAN NO 92 REC LIBER 1252 PAGES 896
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1975
Floors in Building
1
Number of units
1
Building materials
Stucco, Brick
Roof type
Composition
Listing Agency:
Lasco Real Estate Group
(810) 433-9556
Listed By:
Jennifer Lasco · License #6502402604
(248) 840-6059
Added: Sep 11, 2025
Changed: Aug 4
Last Checked: Aug 21 at 2:06PM
MLS# 25046678
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-maintained medical office is positioned in the parking lot of Lake Huron Hospital in Port Huron, MI. The interior is described as in excellent condition with nicely neutral decor, designed to support a multi-doctor practice. The layout includes a large waiting room, a spacious administrative office with built-in desks and filing systems, and numerous patient exam and appointment rooms.
On-site parking is provided for both staff and patients, supporting convenient day-to-day access for appointments and visits.
The space is presented as move-in ready for medical use, with the existing room configuration geared toward patient scheduling and exam flow.
On-site parking is provided for both staff and patients, supporting convenient day-to-day access for appointments and visits.
The space is presented as move-in ready for medical use, with the existing room configuration geared toward patient scheduling and exam flow.
Key Highlights
- 5,780 SF medical office built in 1975, featuring a forced‑air heating system and central air
- Located in the Lake Huron Hospital parking lot, adjacent to the hospital
- Includes a large waiting room, spacious administrative office with built‑in desks and filing systems, and multiple patient exam/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
$18,590
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
5.31%
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%
$371,800
$371.8K
Cap Rate 7%
$265,571
$265.6K
Cap Rate 9%
$206,556
$206.6K
Market Conditions
NOI Build-Up for 5,400 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
$32.4K $6.00/SF
− Vacancy
−$7.6K −$1.41/SF
EGI
$24.8K $4.59/SF
− OpEx
−$6.2K −$1.15/SF
NOI
$18.6K $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%
$371,800
Cap Rate 7%
$265,571
Cap Rate 9%
$206,556
Alternative Uses
Best Use
Healthcare Medical
$477.1K
$417.5K – $556.6K
NOI $33,398 @ 7.0% cap · market cap 9.54%
Second Best
Office B
$265.6K
$232.4K – $309.8K
NOI $18,590 @ 7.0% cap · market cap 5.31%
Theoretical Best
Multifamily LT 5
$4.06M
$3.55M – $4.74M
NOI $284,168 @ 7.0% cap · market cap 81.19%
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Well-maintained medical office with waiting room, administrative office, multiple exam rooms, and ample on-site parking.
Where is this medical office space located?
The property is located at 2609 Electric Avenue 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: 5,780 SF medical office built in 1975, featuring a forced‑air heating system and central air; Located in the Lake Huron Hospital parking lot, adjacent to the hospital; Includes a large waiting room, spacious administrative office with built‑in desks and filing systems, and multiple patient exam/appointment rooms
