390 Starboard Dr, Port Austin, MI 48467
Former retail space suitable for residential conversion with 12' ceilings.
- Added:
- Aug 30, 2022
- Days on Market:
- 1379
- Last Refresh:
- May 19 at 9:08 pm
Property Features for 390 Starboard Dr
General Information
- Standard status
- Active
- Size
- 2,400 SF
- Property subtype
- Retail
Listing agent Charles Howard License #MI 6506044836
Listing office Transwestern Detroit
Listing date Aug 30, 2022
Source Crexi
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 Transwestern Detroit
HighLights
- 12’ Ceilings Throughout
- Convertible from Retail to Residential
- Studded Walls Ready for Design
- Former Retail Building
Overview
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $34.6k | $14.40 |
| − Vacancy | −$6.2k | −$2.58 |
| EGI | $28.4k | $11.82 |
| − OpEx | −$8.5k | −$3.55 |
| NOI | $19.9k | $8.28 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Port Austin
- County
- Huron
- State
- Michigan
- Longitude
- -82.9857
- Latitude
- 44.0077
