Industrial Garage
For Sale
$265,000
205 N Wood Street, Chesaning, MI 48616
COMMERCIAL - Chesaning, MI
Property Size4,500 SF
Lot Size0.20 Acres
Price / SF$58.89
Days on Market295
Property Features for 205 N Wood Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking features
Off Street
Lot features
Corner Lot
Subdivision
Chesaning (73033)
Standard status
Active
APN
13093160527700
Size
4,500 SF
Lot size
0.20 Acres
Utilities
Water source
Public
Building Details
Year built
1950
Roof type
Rubber, Flat
Listing Agency:
Century 21 Signature Realty · Century 21 Real Estate
(989) 921-7000
Listed By:
Ken Kujawa · License #6502333762
(989) 239-5581
Added: Nov 4, 2025
Changed: Aug 4
Last Checked: Aug 26 at 5:06PM
MLS# 50193499
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property is a 4,500-square-foot industrial garage space available for purchase. The offering includes a lot with potential for modification to accommodate additional acquisition requirements.
The site is located at 205 N Wood Street in Chesaning, Michigan, in Saginaw County.
Interested parties should confirm final lot dimensions based on their intended acquisition requirements.
The site is located at 205 N Wood Street in Chesaning, Michigan, in Saginaw County.
Interested parties should confirm final lot dimensions based on their intended acquisition requirements.
Key Highlights
- 4,500 SF industrial garage space for purchase in Chesaning
- Off‑street parking
- Public water service available
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
$23,464
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
8.85%
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%
$469,280
$469.3K
Cap Rate 7%
$335,200
$335.2K
Cap Rate 9%
$260,711
$260.7K
Market Conditions
NOI Build-Up for 4,500 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
$35.1K $7.80/SF
− Vacancy
−$1.6K −$0.35/SF
EGI
$33.5K $7.45/SF
− OpEx
−$10.1K −$2.23/SF
NOI
$23.5K $5.21/SF
Area
Saginaw County, MI
Vacancy
4.50%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
30.00%
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%
$469,280
Cap Rate 7%
$335,200
Cap Rate 9%
$260,711
Alternative Uses
Best Use
Retail
$478.8K
$419.0K – $558.6K
NOI $33,517 @ 7.0% cap · market cap 12.65%
Second Best
Industrial
$335.2K
$293.3K – $391.1K
NOI $23,464 @ 7.0% cap · market cap 8.85%
Theoretical Best
Specialty Retail
$831.4K
$727.5K – $970.0K
NOI $58,199 @ 7.0% cap · market cap 21.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
264
Businesses Nearby
31k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 58%
Dining 28%
Home Improvements & Furnishings 14%
Dollar General
Shops & Services
7,200 visits/mo
0.3 miles
Sunoco
Shops & Services
6,642 visits/mo
0.4 miles
Ace Hardware
Home Improvements & Furnishings
4,426 visits/mo
0.4 miles
Little Caesars Pizza
Dining
3,033 visits/mo
0.3 miles
SUBWAY
Dining
2,269 visits/mo
0.3 miles
Demographics for 48616, MI
7,458
Population
3,226
Households
2.3
Avg Household Size
45
Median Age
14%
College-Educated
92%
High-School Grad
81.1 sq mi
ZIP Area
92
Density / Sq Mi
$67,801
Median Household Income
$39,141
Median Earnings
$744
Median Rent
$153,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Industrial garage space totaling 4,500 square feet is offered for sale in Chesaning, with a configurable lot size.
Where is this auto shop located?
The property is located at 205 N Wood Street Chesaning, MI.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: 4,500 SF industrial garage space for purchase in Chesaning; Off‑street parking; Public water service available
