6 Story Office Building – Absolute – Selling Regardless of Price Port Huron, MI

Property Location MAP

511 Fort Street
Port Huron, MI 48060

Property #: TAA-1045

Contact Agent

Vance Luksetich
Tranzon Bippus, Tranzon Asset Advisors

(618) 830-9091 vancel@tranzon.com

Economic forces in Michigan during 2010 had brought the commercial real estate market in the Port Huron area to a virtual standstill. This 70,968 +/- sf, six story office building was built in 1968 and was only 55% occupied. The restaurant that occupied most of the sixth floor since 1968 had been vacant for over a year and the building did not show well. An absolute auction was held that attracted a room full of people and 9 registered bidders that kept the bidding brisk. The property sold for $635,250 and was the first commercial property transaction to close in 11 months in Port Huron.

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