Repurposed Multi-Use Neighborhood
For Sale
$1,790,000
301 N 9th St, Saint Clair, MI 48079
A professionally repurposed former elementary school offering space for offices, fitness, daycare, nonprofits, and service businesses.
Property Size47,495 SF
Days on Market118
Property Features for 301 N 9th St
General Information
Standard status
Active
Size
47,495 SF
Property subtype
Retail
Amenities
graded HVAC systems
new parking lot
enhanced interior finishes
automated entry access with on-site security monitoring
Building Details
Building Size
47,495 SF
Tenancy
Multi
Listed By:
Michael Scamardella
(586) 263-5111
Source:
Linorealty
Added: Jun 25
Changed: Oct 16
Last Checked: Oct 19 at 3:33AM
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 Michael Scamardella
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Investment Insights
Based on property information with market context.
This former elementary school has been professionally repurposed into a multi-use neighborhood center with a tenant mix that includes professional offices, fitness studios, daycare providers, nonprofit organizations, and service-based businesses. The building includes graded HVAC systems, enhanced interior finishes, and automated entry access with on-site security monitoring.
The property is located at 301 N 9th St in Saint Clair, MI 48079, and features a new parking lot. Recent environmental assessments are available.
Overall, the center is configured to support multiple compatible uses under one roof, with operational upgrades aimed at day-to-day accessibility and building performance.
The property is located at 301 N 9th St in Saint Clair, MI 48079, and features a new parking lot. Recent environmental assessments are available.
Overall, the center is configured to support multiple compatible uses under one roof, with operational upgrades aimed at day-to-day accessibility and building performance.
Key Highlights
- Former elementary school professionally repurposed into a multi‑use neighborhood center
- Current tenant mix includes professional offices, fitness studios, daycare providers, nonprofits, and service businesses
- New parking lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$163,502
Cap Rate
9.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,270,040
$3.3M
Cap Rate 7%
$2,335,743
$2.3M
Cap Rate 9%
$1,816,689
$1.8M
Market Conditions
NOI Build-Up for 47,495 SF
Gross rent
$285.0K $6.00/SF
− Vacancy
−$67.0K −$1.41/SF
EGI
$218.0K $4.59/SF
− OpEx
−$54.5K −$1.15/SF
NOI
$163.5K $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 Rate 5%
$3,270,040
Cap Rate 7%
$2,335,743
Cap Rate 9%
$1,816,689
Alternative Uses
Best Use
Office B
$2.34M
$2.04M – $2.73M
NOI $163,502 @ 7.0% cap · market cap 9.13%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$35.71M
$31.24M – $41.66M
NOI $2,499,360 @ 7.0% cap · market cap 139.63%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
406
Businesses Nearby
Explore this area
Business Placement
Demographics for 48079, MI
12,553
Population
5,403
Households
2.3
Avg Household Size
45
Median Age
25%
College-Educated
95%
High-School Grad
41.9 sq mi
ZIP Area
300
Density / Sq Mi
$80,313
Median Household Income
$46,643
Median Earnings
$1,090
Median Rent
$276,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - A professionally repurposed former elementary school offering space for offices, fitness, daycare, nonprofits, and service businesses.
Where is this office building located?
The property is located at 301 N 9th St Saint Clair, MI.
What is the asking price?
The asking price for this property is $1,790,000.
What are key features of this property?
This property features: Former elementary school professionally repurposed into a multi‑use neighborhood center; Current tenant mix includes professional offices, fitness studios, daycare providers, nonprofits, and service businesses; New parking lot
