802 Lapeer Ave, Port Huron, MI 48060

Building Details

Building Size 10,900 SF More

Year Built 1889 More

Year Renovated 2025 More

Buildings 4 More

Stories 2 More

Tenancy Multi-Tenant More

Listing Agency: Pilot Property Group

Listed By: Jon Wright · License MI #6501354459 Show Phone

Source: Cpix.resimplifi

Added: Sep 17 Changed: Nov 9 Last Checked: Nov 8 at 2:06AM

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Investment Insights

Based on property information with market context.

Built in 1889 and subsequently renovated, this mixed-use property contains five commercial units and four residential units on the upper level. Three commercial spaces are vacant, with approximate sizes ranging from 750 to 2,640 square feet. A large rear storage garage provides additional on-site utility for the property.

The building is located near St. Clair County Community College in Port Huron and carries CBD zoning. With both commercial and residential components, the configuration supports an owner-occupied business arrangement alongside multiple additional units.

Key Highlights

• Five commercial units and four upper‑level residential units
• Three vacant commercial spaces ranging from approximately 750–2,640 SF
• 10,900‑square‑foot property built in 1889

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$75,210

Cap Rate

6.84%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,504,200 $1.5M

Cap Rate 7%

$1,074,429 $1.1M

Cap Rate 9%

$835,667 $835.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 10,900 SF

Gross rent

$130.8K $12.00/SF

− Vacancy

−$10.5K −$0.96/SF

EGI

$120.3K $11.04/SF

− OpEx

−$45.1K −$4.14/SF

NOI

$75.2K $6.90/SF

Area

St. Clair County, MI

Vacancy

8.00%

Lease Rate

$12.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,504,200

Cap Rate 7%

$1,074,429

Cap Rate 9%

$835,667

Alternative Uses

Best Use

Apartment 5plus

$7.55M

$6.60M – $8.80M (±1% cap)

NOI $528,155 @ 7.0% cap

Second Best

Retail

$2.01M

$1.76M – $2.35M (±1% cap)

NOI $140,904 @ 7.0% cap · market cap 12.81%

Theoretical Best

Multifamily LT 5

$8.19M

$7.17M – $9.56M (±1% cap)

NOI $573,598 @ 7.0% cap

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Tim MacRury, EXP Real Estate Agency Lorraine Frendt, Associate ... Real Estate Agency D. Leigh Grimes, ... Real Estate Agency Sharon Torello Realtor Real Estate Agency Shelley M Watters ... Real Estate Agency

Suggested Use

Top Pick Big Box & Wholesale Store Grocery & Convenience Store Barber Shop (Bike/Boat/Book/etc) Store Parking Lot & Garage Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

Location Intelligence

Trade Area within ½ mile

1,364

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 Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - CBD-zoned property combines commercial suites, upper-level residences, and a rear storage garage.

Where is this mixed-use property located?

The property is located at 802 Lapeer Ave Port Huron, MI.

What is the asking price?

The asking price for this property is $1,100,000.

What are key features of this property?

This property features: Five commercial units and four upper‑level residential units; Three vacant commercial spaces ranging from approximately 750–2,640 SF; 10,900‑square‑foot property built in 1889