Office Unit with
New
For Sale
$79,900
5190 Sheridan Road, Saginaw, MI 48601
Saginaw, MI
Property Size840 SF
Lot Size0.49 Acres
Price / SF$95.12
Days on Market4
Property Features for 5190 Sheridan Road
General Information
Property type
Commercial Sale
Property subtype
Other
Standard status
Active
Size
840 SF
Lot size
0.49 Acres
Amenities
2 sheds for storage
Building Details
Year built
1962
Listing Agency:
NextHome Greater Tri-Cities
Listed By:
Coty Lewis Group Team · License #PersonLicenseNumber
(989) 239-7545
Added: Sep 8
Changed: Sep 11
Last Checked: Sep 11 at 3:06AM
MLS# 50219552
Copyright © 2026 NextHome, Inc. 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 840-square-foot office property offers a flexible layout for either one business operation or two separate office or sales-office units. The storefront includes updated windows, electrical service, and a furnace. Plumbing is arranged for a half bathroom on each side, supporting the potential two-unit configuration. A rear exit provides secondary access, while two storage sheds add practical exterior storage.
The property occupies 0.49 acres and includes a newer parking lot with ample on-site parking. Built in 1962, the building is located at 5190 Sheridan Road in Saginaw, Michigan, and provides a compact commercial setting for office or sales-related use.
The property occupies 0.49 acres and includes a newer parking lot with ample on-site parking. Built in 1962, the building is located at 5190 Sheridan Road in Saginaw, Michigan, and provides a compact commercial setting for office or sales-related use.
Key Highlights
- 840 SF office property with a flexible single- or two‑unit layout
- Storefront with updated windows, electrical service, and furnace
- Plumbing set up for a 1/2 bathroom on both sides
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
$6,256
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
7.83%
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%
$125,120
$125.1K
Cap Rate 7%
$89,371
$89.4K
Cap Rate 9%
$69,511
$69.5K
Market Conditions
NOI Build-Up for 840 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
$10.9K $12.96/SF
− Vacancy
−$1.9K −$2.32/SF
EGI
$8.9K $10.64/SF
− OpEx
−$2.7K −$3.19/SF
NOI
$6.3K $7.45/SF
Area
Saginaw County, MI
Vacancy
17.90%
Lease Rate
$12.96 /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%
$125,120
Cap Rate 7%
$89,371
Cap Rate 9%
$69,511
Alternative Uses
Best Use
Office B
$117.5K
$102.8K – $137.0K
NOI $8,222 @ 7.0% cap · market cap 10.29%
Second Best
Retail
$89.4K
$78.2K – $104.3K
NOI $6,256 @ 7.0% cap · market cap 7.83%
Theoretical Best
Specialty Retail
$155.2K
$135.8K – $181.1K
NOI $10,864 @ 7.0% cap · market cap 13.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Explore this area
Business Placement
Demographics for 48601, MI
32,165
Population
16,220
Households
2
Avg Household Size
39
Median Age
8%
College-Educated
86%
High-School Grad
104.3 sq mi
ZIP Area
308
Density / Sq Mi
$37,830
Median Household Income
$27,218
Median Earnings
$836
Median Rent
$54,900
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Flexible office property with updated building systems, rear access, storage sheds, and on-site parking.
Where is this office units located?
The property is located at 5190 Sheridan Road Saginaw, MI.
What is the asking price?
The asking price for this property is $79,900.
What are key features of this property?
This property features: 840 SF office property with a flexible single- or two‑unit layout; Storefront with updated windows, electrical service, and furnace; Plumbing set up for a 1/2 bathroom on both sides
