Office Building with Marquee
For Sale
$184,999
3103 Lapeer Road, Port Huron, MI 48060
COM/IND/BUS OPP, Port Huron, MI
Property Size2,704 SF
Lot Size0.19 Acres
Price / SF$68.42
Days on Market325
Property Features for 3103 Lapeer Road
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Port Huron Twp (74044)
Standard status
Active
APN
28-218-0016-000
Size
2,704 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Annual Amount
2993
Utilities
Heating system
Forced Air
Water source
Public
Amenities
marquee sign
Building Details
Year built
1948
Listing Agency:
Realty Executives Home Towne Chesterfield · Realty Executives International
(586) 949-8300
Listed By:
Joan Schinderle-King · License #6501292224
(586) 383-9975
Added: Oct 14, 2025
Changed: Aug 19
Last Checked: Sep 3 at 3:06PM
MLS# 50191423
Copyright © 2026 Multiple Listing Service MiRealSource. 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 2,704-square-foot office property occupies a 0.19-acre parcel and was built in 1948. The building has forced-air heating, public water, 14 parking spaces, and a 12' x 4' marquee sign. Its B3 zoning supports the existing office format and the property has also operated as a restaurant in the past.
Located at 3103 Lapeer Road in Port Huron, the building sits immediately beside O'Reilly Auto Parts and offers direct access from the surrounding roadway. The property has a documented history as the home of an insurance agency since 1974, providing an established commercial setting for office, retail, or service use.
Located at 3103 Lapeer Road in Port Huron, the building sits immediately beside O'Reilly Auto Parts and offers direct access from the surrounding roadway. The property has a documented history as the home of an insurance agency since 1974, providing an established commercial setting for office, retail, or service use.
Key Highlights
- 2,704 square feet on a 0.19‑acre parcel
- B3 zoning with office, retail, and service‑use history
- 12' x 4' marquee sign
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
$9,309
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
5.03%
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%
$186,180
$186.2K
Cap Rate 7%
$132,986
$133.0K
Cap Rate 9%
$103,433
$103.4K
Market Conditions
NOI Build-Up for 2,704 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
$16.2K $6.00/SF
− Vacancy
−$3.8K −$1.41/SF
EGI
$12.4K $4.59/SF
− OpEx
−$3.1K −$1.15/SF
NOI
$9.3K $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%
$186,180
Cap Rate 7%
$132,986
Cap Rate 9%
$103,433
Alternative Uses
Best Use
Retail
$499.3K
$436.9K – $582.6K
NOI $34,954 @ 7.0% cap · market cap 18.89%
Second Best
Office B
$133.0K
$116.4K – $155.2K
NOI $9,309 @ 7.0% cap · market cap 5.03%
Theoretical Best
Multifamily LT 5
$2.03M
$1.78M – $2.37M
NOI $142,294 @ 7.0% cap · market cap 76.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
269
Businesses Nearby
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?
Office units - B3-zoned office property with flexible interior space, on-site parking, and prominent roadside signage.
Where is this office units located?
The property is located at 3103 Lapeer Road Port Huron, MI.
What is the asking price?
The asking price for this property is $184,999.
What are key features of this property?
This property features: 2,704 square feet on a 0.19‑acre parcel; B3 zoning with office, retail, and service‑use history; 12' x 4' marquee sign
