Three-Suite Office
For Sale
$459,900
3150 Hallmark Court, Saginaw, MI 48603
COM/IND/BUS OPP, Saginaw, MI
Property Size5,207 SF
Lot Size1.30 Acres
Price / SF$88.32
Days on Market265
Property Features for 3150 Hallmark Court
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Hallmark Terrace Sub
Standard status
Active
APN
23-12-4-10-4004-003
Size
5,207 SF
Lot size
1.30 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
11703
Utilities
Water source
Public
Building Details
Year built
1978
Listing Agency:
eXp Realty
(888) 501-7085
Listed By:
Jamie Broderick
(989) 850-2161
Added: Dec 1, 2025
Changed: Aug 19
Last Checked: Aug 23 at 3:06AM
MLS# 50195403
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 5,207-square-foot office building contains three suites on a 1.3-acre lot and is offered for sale. One suite is occupied, while two are vacant. Each unit includes basement space that can support staff areas, records storage, or additional office functions. All suites are ADA accessible, and the property includes plentiful parking.
Built in 1978, the building is served by public water. Its three-suite configuration provides a combination of existing occupancy and available space within a single office property.
Built in 1978, the building is served by public water. Its three-suite configuration provides a combination of existing occupancy and available space within a single office property.
Key Highlights
- 5,207‑square‑foot office building on a 1.3‑acre lot
- Three suites: one occupied and two vacant
- Basement areas in all suites
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
$39,410
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
8.57%
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%
$788,200
$788.2K
Cap Rate 7%
$563,000
$563.0K
Cap Rate 9%
$437,889
$437.9K
Market Conditions
NOI Build-Up for 5,207 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
$75.0K $14.40/SF
− Vacancy
−$9.3K −$1.79/SF
EGI
$65.7K $12.61/SF
− OpEx
−$26.3K −$5.05/SF
NOI
$39.4K $7.57/SF
Area
Saginaw County, MI
Vacancy
12.40%
Lease Rate
$14.40 /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%
$788,200
Cap Rate 7%
$563,000
Cap Rate 9%
$437,889
Alternative Uses
Best Use
Office B
$728.1K
$637.1K – $849.4K
NOI $50,964 @ 7.0% cap · market cap 11.08%
Second Best
Healthcare Medical
$563.0K
$492.6K – $656.8K
NOI $39,410 @ 7.0% cap · market cap 8.57%
Theoretical Best
Specialty Retail
$962.0K
$841.8K – $1.12M
NOI $67,342 @ 7.0% cap · market cap 14.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
680
Businesses Nearby
Explore this area
Business Placement
Demographics for 48603, MI
27,492
Population
13,367
Households
2.1
Avg Household Size
43
Median Age
37%
College-Educated
94%
High-School Grad
18.2 sq mi
ZIP Area
1,511
Density / Sq Mi
$65,690
Median Household Income
$41,661
Median Earnings
$1,019
Median Rent
$181,800
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?
Office building - ADA-accessible office property with basement areas supporting staff functions, records storage, or additional workspace.
Where is this office building located?
The property is located at 3150 Hallmark Court Saginaw, MI.
What is the asking price?
The asking price for this property is $459,900.
What are key features of this property?
This property features: 5,207‑square‑foot office building on a 1.3‑acre lot; Three suites: one occupied and two vacant; Basement areas in all suites
