Goodyear Auto
For Sale
Contact for pricing
4655 24TH AVENUE, Port Huron, MI 48059
Single-tenant automotive property with established occupancy and a renewal option extending the lease term.
Property Size5,200 SF
Price / SF$230.35
Days on Market92
Property Features for 4655 24TH AVENUE
General Information
Standard status
Active
Size
5,200 SF
Property subtype
Retail
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$80,858
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1996
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Horvath & Tremblay
Listed By:
Steven Schiavello · License #NJ 1327559
Source:
Crexi
Added: Jun 2
Changed: Aug 30
Last Checked: Aug 31 at 9:47AM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
This 5,200-square-foot automotive property is occupied by Goodyear, which has operated at the site since 1996. The building was constructed in 1996 and functions as a pad-site location within a shopping center anchored by Burlington and Hobby Lobby.
The property is positioned on 24th Avenue in Port Huron, along a commercial and commuter corridor with prominent signage and frontage. Birchwood Mall, Target, and a Walmart Supercenter are located in the surrounding retail area. The site is approximately 4.5 miles from Downtown Port Huron, the Blue Water Bridge, and Interstates 69 and 94.
Goodyear recently exercised a lease renewal option. The current lease has 5+ years remaining and includes one 5-year renewal option, with a 10% rent increase at the beginning of that option.
The property is positioned on 24th Avenue in Port Huron, along a commercial and commuter corridor with prominent signage and frontage. Birchwood Mall, Target, and a Walmart Supercenter are located in the surrounding retail area. The site is approximately 4.5 miles from Downtown Port Huron, the Blue Water Bridge, and Interstates 69 and 94.
Goodyear recently exercised a lease renewal option. The current lease has 5+ years remaining and includes one 5-year renewal option, with a 10% rent increase at the beginning of that option.
Key Highlights
- 5,200 SF automotive property occupied by Goodyear
- Goodyear has operated at the site since 1996
- 5+ years remaining on the current lease
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
$67,220
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
5.61%
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%
$1,344,400
$1.3M
Cap Rate 7%
$960,286
$960.3K
Cap Rate 9%
$746,889
$746.9K
Market Conditions
NOI Build-Up for 5,200 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
$98.6K $18.96/SF
− Vacancy
−$2.6K −$0.49/SF
EGI
$96.0K $18.47/SF
− OpEx
−$28.8K −$5.54/SF
NOI
$67.2K $12.93/SF
Area
St. Clair County, MI
Vacancy
2.60%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
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%
$1,344,400
Cap Rate 7%
$960,286
Cap Rate 9%
$746,889
Alternative Uses
Best Use
Retail
$960.3K
$840.3K – $1.12M
NOI $67,220 @ 7.0% cap · market cap 5.61%
Second Best
Industrial
$435.2K
$380.8K – $507.8K
NOI $30,467 @ 7.0% cap · market cap 2.54%
Theoretical Best
Multifamily LT 5
$3.91M
$3.42M – $4.56M
NOI $273,643 @ 7.0% cap · market cap 22.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
673
Businesses Nearby
253k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 32%
Dining 26%
Apparel 21%
Groceries 14%
T.J. Maxx
Apparel
44,092 visits/mo
0.4 miles
Kroger
Groceries
35,569 visits/mo
0.1 miles
Dollar Tree
Shops & Services
17,738 visits/mo
0.4 miles
Taco Bell
Dining
14,638 visits/mo
0.1 miles
Applebee's
Dining
13,931 visits/mo
0.4 miles
Demographics for 48059, MI
15,319
Population
7,324
Households
2.1
Avg Household Size
47
Median Age
30%
College-Educated
94%
High-School Grad
31.7 sq mi
ZIP Area
483
Density / Sq Mi
$78,841
Median Household Income
$44,716
Median Earnings
$956
Median Rent
$199,200
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Single-tenant automotive property with established occupancy and a renewal option extending the lease term.
Where is this auto shop located?
The property is located at 4655 24TH AVENUE Port Huron, MI.
What is the asking price?
The asking price for this property is $1,197,800.
What are key features of this property?
This property features: 5,200 SF automotive property occupied by Goodyear; Goodyear has operated at the site since 1996; 5+ years remaining on the current lease
