Office Units with Drive-Up
For Sale
$895,000
2706 N Saginaw Road, Midland, MI 48640
COM/IND/BUS OPP, Midland, MI
Property Size6,000 SF
Lot Size0.92 Acres
Price / SF$149.17
Days on Market94
Property Features for 2706 N Saginaw Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
1-2 Multi, Mixed Use, Commercial
Parking features
Parking Lot
Lot features
Main Street
Subdivision
Midland (56020)
Standard status
Active
APN
140550090
Size
6,000 SF
Lot size
0.92 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
10585
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
drive-up window
Building Details
Year built
1945
Roof type
Metal
Listing Agency:
Century 21 Signature Realty Midland · Century 21 Real Estate
(989) 837-2100
Listed By:
Paul White · License #6501464774
(989) 600-7424
Added: Jun 25
Changed: Sep 5
Last Checked: Sep 26 at 5:06AM
MLS# 50177675
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.
This 6,000-square-foot office property occupies 0.92 acres and was built in 1945. The building has been updated and includes a drive-up window beneath a canopy, a parking lot, central air, forced-air heat, public water, and a metal roof. Its configuration supports office, medical, retail, and other professional uses described for the property.
Located at 2706 N Saginaw Road in Midland, the property is near the hospital and directly across from Midland County’s largest employer. The site is positioned along a corridor reported to carry more than 22,000 vehicles per day, adding substantial exposure for occupants and visitors.
Located at 2706 N Saginaw Road in Midland, the property is near the hospital and directly across from Midland County’s largest employer. The site is positioned along a corridor reported to carry more than 22,000 vehicles per day, adding substantial exposure for occupants and visitors.
Key Highlights
- 6,000‑square‑foot office property on 0.92 acres
- Drive‑up window sheltered by a canopy
- More than 22,000 vehicles per day
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
$60,134
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
6.72%
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%
$1,202,680
$1.2M
Cap Rate 7%
$859,057
$859.1K
Cap Rate 9%
$668,156
$668.2K
Market Conditions
NOI Build-Up for 6,000 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
$108.0K $18.00/SF
− Vacancy
−$7.8K −$1.30/SF
EGI
$100.2K $16.70/SF
− OpEx
−$40.1K −$6.68/SF
NOI
$60.1K $10.02/SF
Area
Midland County, MI
Vacancy
7.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
40.00%
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%
$1,202,680
Cap Rate 7%
$859,057
Cap Rate 9%
$668,156
Alternative Uses
Best Use
Healthcare Medical
$859.1K
$751.7K – $1.00M
NOI $60,134 @ 7.0% cap · market cap 6.72%
Second Best
Office B
$805.4K
$704.7K – $939.6K
NOI $56,376 @ 7.0% cap · market cap 6.30%
Theoretical Best
Flex RnD
$1.08M
$947.6K – $1.26M
NOI $75,807 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
22,000 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,018
Businesses Nearby
Explore this area
Business Placement
Demographics for 48640, MI
31,840
Population
14,340
Households
2.2
Avg Household Size
41
Median Age
38%
College-Educated
96%
High-School Grad
105.1 sq mi
ZIP Area
303
Density / Sq Mi
$81,630
Median Household Income
$43,353
Median Earnings
$928
Median Rent
$191,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office units - Updated commercial space offers office flexibility, central air, forced-air heat, and rear parking near the hospital.
Where is this office units located?
The property is located at 2706 N Saginaw Road Midland, MI.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: 6,000‑square‑foot office property on 0.92 acres; Drive‑up window sheltered by a canopy; More than 22,000 vehicles per day
