Brick Office Building with
For Sale
$575,000
3741 Tittabawassee Road, Saginaw, MI 48604
COMMERCIAL - Saginaw, MI
Property Size1,776 SF
Lot Size2.94 Acres
Price / SF$323.76
Days on Market366
Property Features for 3741 Tittabawassee Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial, Residential
Rooms
Basement
Patio and Porch features
Patio
Exterior features
Deck/Patio
Subdivision
Saginaw Twp (73020)
Standard status
Active
APN
23-12-4-03-2034-000
Size
1,776 SF
Lot size
2.94 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5109
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1954
Listing Agency:
Century 21 Signature Realty · Century 21 Real Estate
(989) 921-7000
Listed By:
Connie Reppuhn · License #6501253246
(989) 239-2895
Added: Aug 26, 2025
Changed: Aug 4
Last Checked: Aug 26 at 5:06PM
MLS# 50186491
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 1,776-square-foot office building at 3741 Tittabawassee Road was built in 1954 and features all-brick construction. The interior includes multiple office areas, bathrooms, a limited kitchen, and a basement. A separate office area provides additional dedicated space within the building. Forced-air heating, central air, public water, and a patio are also included. The front entrance is served by a handicap ramp.
The property encompasses 2.94 acres in Saginaw, Michigan, near existing businesses and the Gerber facility identified as under construction. The building has operated as a State Farm agency for more than 30 years, with that occupancy scheduled to move by the end of September 2025.
The property encompasses 2.94 acres in Saginaw, Michigan, near existing businesses and the Gerber facility identified as under construction. The building has operated as a State Farm agency for more than 30 years, with that occupancy scheduled to move by the end of September 2025.
Key Highlights
- 2.94‑acre office property at 3741 Tittabawassee Road, Saginaw, MI 48604
- 1,776‑square‑foot building constructed in 1954
- All‑brick construction with handicap ramp at the front entrance
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
$17,383
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
3.02%
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%
$347,660
$347.7K
Cap Rate 7%
$248,329
$248.3K
Cap Rate 9%
$193,144
$193.1K
Market Conditions
NOI Build-Up for 1,776 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
$26.6K $15.00/SF
− Vacancy
−$3.5K −$1.95/SF
EGI
$23.2K $13.05/SF
− OpEx
−$5.8K −$3.26/SF
NOI
$17.4K $9.79/SF
Area
Saginaw County, MI
Vacancy
13.00%
Lease Rate
$15.00 /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%
$347,660
Cap Rate 7%
$248,329
Cap Rate 9%
$193,144
Alternative Uses
Best Use
Office B
$248.3K
$217.3K – $289.7K
NOI $17,383 @ 7.0% cap · market cap 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$328.1K
$287.1K – $382.8K
NOI $22,969 @ 7.0% cap · market cap 3.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
184
Businesses Nearby
Explore this area
Business Placement
Demographics for 48604, MI
12,386
Population
4,603
Households
2.7
Avg Household Size
29
Median Age
24%
College-Educated
95%
High-School Grad
26.3 sq mi
ZIP Area
471
Density / Sq Mi
$53,804
Median Household Income
$18,887
Median Earnings
$928
Median Rent
$93,200
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 - Established office property with multiple work areas, a client-accessible entrance ramp, patio, and additional land for commercial use.
Where is this office building located?
The property is located at 3741 Tittabawassee Road Saginaw, MI.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 2.94‑acre office property at 3741 Tittabawassee Road, Saginaw, MI 48604; 1,776‑square‑foot building constructed in 1954; All‑brick construction with handicap ramp at the front entrance
