Hospital-Area Medical Office
For Sale
$350,000
A-2609 Electric Ave, Port Huron, MI 48060
Well-maintained medical office with multiple exam and appointment rooms plus dedicated waiting and administrative space.
Property Size5,780 SF
Price / SF$60.55
Days on Market345
Property Features for A-2609 Electric Ave
General Information
Standard status
Active
Size
5,780 SF
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$11,375
Listing Agency:
Lasco Real Estate Group
(248) 840-6059
Listed By:
Jennifer Lasco · License #6502402604
(248) 840-6059
Source:
Exprealty
Added: Sep 11, 2025
Changed: Aug 20
Last Checked: Aug 21 at 10:23AM
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 Lasco Real Estate Group
Investment Insights
Based on property information with market context.
This well-maintained medical office totals 5,780 square feet and is positioned within the parking lot of Lake Huron Hospital. The interior includes a large, welcoming waiting room, a spacious administrative office with built-in desks and filing systems, and numerous patient exam and appointment rooms to support a multi-doctor practice.
The building is designed for day-to-day patient flow, with neutral décor in excellent condition and ready-to-occupy space. Ample on-site parking is provided for both staff and patients, and the office benefits from being adjacent to the hospital for straightforward access and visibility.
Available for sale, the property is presented as a turnkey option for an established or expanding medical practice.
The building is designed for day-to-day patient flow, with neutral décor in excellent condition and ready-to-occupy space. Ample on-site parking is provided for both staff and patients, and the office benefits from being adjacent to the hospital for straightforward access and visibility.
Available for sale, the property is presented as a turnkey option for an established or expanding medical practice.
Key Highlights
- Well‑maintained 5,780 SF medical office positioned in the parking lot of Lake Huron Hospital
- Multiple patient exam and appointment rooms to support a multi‑doctor practice
- Large waiting room plus a spacious administrative office with built‑in desks and filing systems
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
$19,898
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
5.69%
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%
$397,960
$398.0K
Cap Rate 7%
$284,257
$284.3K
Cap Rate 9%
$221,089
$221.1K
Market Conditions
NOI Build-Up for 5,780 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
$34.7K $6.00/SF
− Vacancy
−$8.1K −$1.41/SF
EGI
$26.5K $4.59/SF
− OpEx
−$6.6K −$1.15/SF
NOI
$19.9K $3.44/SF
Area
St. Clair County, MI
Vacancy
23.50%
Lease Rate
$6.00 /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%
$397,960
Cap Rate 7%
$284,257
Cap Rate 9%
$221,089
Alternative Uses
Best Use
Healthcare Medical
$510.7K
$446.9K – $595.8K
NOI $35,748 @ 7.0% cap · market cap 10.21%
Second Best
Office B
$284.3K
$248.7K – $331.6K
NOI $19,898 @ 7.0% cap · market cap 5.69%
Theoretical Best
Multifamily LT 5
$4.35M
$3.80M – $5.07M
NOI $304,165 @ 7.0% cap · market cap 86.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
426
Businesses Nearby
Under-served
Demand for This Use
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Well-maintained medical office with multiple exam and appointment rooms plus dedicated waiting and administrative space.
Where is this medical office space located?
The property is located at A-2609 Electric Ave Port Huron, MI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Well‑maintained 5,780 SF medical office positioned in the parking lot of Lake Huron Hospital; Multiple patient exam and appointment rooms to support a multi‑doctor practice; Large waiting room plus a spacious administrative office with built‑in desks and filing systems
