Lake Huron Marina For
For Sale
$3,500,000
7365 Cedar Street, Port Sanilac, MI 48469
Full-service Great Lakes marina with storage and service facilities.
Property Size29,300 SF
Lot Size5.83 Acres
Price / SF$119.45
Days on Market206
Property Features for 7365 Cedar Street
General Information
Standard status
Active
Size
29,300 SF
Lot size
5.83 Acres
Property subtype
Special Purpose
Building Details
Year Built
1977
Listing Agency:
Signature Associates Southfield
(249) 613-9700
Listed By:
Steve Gordon · License #6502124167
(249) 613-9700
Source:
Tcnworldwide
Added: Jan 27
Changed: Jul 6
Last Checked: Aug 20 at 5:34AM
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 Signature Associates Southfield
Investment Insights
Based on property information with market context.
This full-service marina is located on Lake Huron and includes a 27-Ton Algonac boat hoist, a 25-Ton Wiggins lift truck, and a 50-Ton marine travel lift with telescoping crane. The sale includes multiple addresses: a 5.41-acre fenced and lighted storage yard at 6925 E. Sanilac, 7,500 sq. ft. of inside heated storage at 7256 Cedar St, a 0.42-acre storage yard at 8 South Lake St, an 8,000 sq. ft. main building with a showroom and restaurant at 7353/7365 Cedar St, and a 5,000 sq. ft. marine service center at 7332 Cedar St. The main building offers space for a showroom and restaurant, complementing the marine services.
Key Highlights
- Full‑service Great Lakes Marina on Lake Huron
- Includes a 50‑Ton marine travel lift with telescoping crane
- Multiple addresses with diverse facilities: storage yards, heated storage, main building with showroom/restaurant, and marine service center
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
$297,454
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
8.50%
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%
$5,949,080
$5.9M
Cap Rate 7%
$4,249,343
$4.2M
Cap Rate 9%
$3,305,044
$3.3M
Market Conditions
NOI Build-Up for 29,300 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
$421.9K $14.40/SF
− Vacancy
−$25.3K −$0.86/SF
EGI
$396.6K $13.54/SF
− OpEx
−$99.2K −$3.38/SF
NOI
$297.5K $10.15/SF
Area
Sanilac County, MI
Vacancy
6.00%
Lease Rate
$14.40 /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%
$5,949,080
Cap Rate 7%
$4,249,343
Cap Rate 9%
$3,305,044
Alternative Uses
Best Use
Specialty Retail
$4.25M
$3.72M – $4.96M
NOI $297,454 @ 7.0% cap · market cap 8.50%
Second Best
Warehouse
$2.72M
$2.38M – $3.17M
NOI $190,224 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$6.22M
$5.44M – $7.26M
NOI $435,590 @ 7.0% cap · market cap 12.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
121
Businesses Nearby
Explore this area
Business Placement
Demographics for 48469, MI
1,198
Population
1,014
Households
1.2
Avg Household Size
58
Median Age
23%
College-Educated
94%
High-School Grad
7.9 sq mi
ZIP Area
152
Density / Sq Mi
$52,577
Median Household Income
$32,500
Median Earnings
$824
Median Rent
$166,700
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Marina - Full-service Great Lakes marina with storage and service facilities.
Where is this marina located?
The property is located at 7365 Cedar Street Port Sanilac, MI.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Full‑service Great Lakes Marina on Lake Huron; Includes a **50‑Ton marine travel lift with telescoping crane**; Multiple addresses with diverse facilities: storage yards, heated storage, main building with showroom/restaurant, and marine service center
