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    401 Starboard Dr Port Austin, MI 48467

    Sponsored
    For Sale
    $306,000

    Turnkey Medical Office, 2200 sq ft

    Property size:
    8,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    404
    This exceptional 2,200 square foot medical office space in Wake County, North Carolina, presents a unique opportunity for healthcare professionals. Currently configured as a fully equipped and move-in ready family care home, this single-tenant property is ideally suited for senior care. The building boasts a comprehensive fire and alarm system, ensuring safety and peace of mind. Designed with ADA-compliant accessibility features, including spacious rooms, accessible bathrooms, and ramps, it promotes resident independence. Each room is furnished with comfortable furniture and modern amenities, creating a welcoming atmosphere. Inviting common areas, a fully equipped modern kitchen and dining area, and a secure, landscaped outdoor space foster a strong sense of community and provide ample opportunities for social interaction and relaxation. The property's location in a peaceful residential neighborhood offers convenient access to medical facilities, shopping, and other community resources. This turnkey solution is perfect for establishing or expanding senior care services, offering immediate operational capabilities in a well-appointed and compliant setting. The property is ready for immediate occupancy.

    Property Features for 401 Starboard Dr

    General Information

    Property type
    Manufacturing properties
    Square Feet
    8,000 SF
    Lot Size
    10,890 SF

    Building Details

    Year Built
    1950

    We can help!

    Listing Contact
    Charles Howard
    Charles Howard

    Learn more

    Property Insight Report

    HighLights

    • 2,200 SF Medical Office Building in Wake County, NC.
    • Single‑tenant occupancy.
    • Fully equipped and move‑in ready.
    • ADA‑compliant accessibility features.
    • Secure outdoor space.
    Property Profile Location Intelligence

    Current Use by Public Records

    Manufacturing properties

    Map

    City
    Port Austin
    County
    Huron
    State
    Michigan
    Longitude
    -83.0019346
    Latitude
    44.0304862

    Nearby Comparable

    • $276,000
      2,400 SF

      Port Austin Retail Building - $276K

      Prime Port Austin retail space, vacant & ready!
      390 Starboard Dr, Port Austin, MI 48467
      View Details
    • $315,000
      7,081 SF

      Port Austin Industrial Property

      Fortified Industrial Building, 7,081 sq ft
      8175 Prt St, Port Austin, MI 48467
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    • $49,500

      Land For Sale

      Land available for sale.
      14 Towering Oaks Dr, Port Austin, MI 48467
      View Details
    • $114,900
      10.97 Acres

      Wooded Land Near Oak Beach

      10.97 acres of wooded commercial land near Oak Beach.
      Oak Beach Rd, Port Austin, MI 48467
      View Details
    • $114,900

      Wooded Acreage Near Oak Beach

      10.97 acres of wooded land near Oak Beach County Park.
      Oak Beach Rd, Port Austin, MI 48467
      View Details

    Nearby Similar for Sale

    • $315,000
      7,081 SF

      Port Austin Industrial Property

      Fortified Industrial Building, 7,081 sq ft
      8175 Prt St, Port Austin, MI 48467
      View Details
    • $276,000
      2,400 SF

      Port Austin Retail Building - $276K

      Prime Port Austin retail space, vacant & ready!
      390 Starboard Dr, Port Austin, MI 48467
      View Details

    FAQs

    What type of property is this?
    Manufacturing property - Turnkey Medical Office, 2200 sq ft
    Where is this manufacturing property located?
    The property is located at 401 Starboard Dr Port Austin, MI.
    What is the asking price?
    The asking price for this property is $306,000.
    What are key features of this property?
    This property features: 2,200 SF Medical Office Building in Wake County, NC.; Single-tenant occupancy.; Fully equipped and move-in ready.
    Request Owner's contact information
    401 Starboard Dr Port Austin, MI 48467
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    401 Starboard Dr Port Austin, MI 48467
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    We can help!
    Listing Contact
    Charles Howard
    Charles Howard
    Real Estate License ID: MI 6506044836
    Learn more
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