Office Building with
For Sale
$1,200,000
5510 W Saginaw Highway, Lansing, MI 48917
Commercial Sale, Lansing, MI
Property Size4,258 SF
Lot Size0.85 Acres
Price / SF$281.82
Days on Market128
Property Features for 5510 W Saginaw Highway
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
C
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Interior features
Broadband
Elementary school district
Waverly
Middle school district
Waverly
High school district
Waverly
Standard status
Active
APN
040-011-400-100-00
Size
4,258 SF
Lot size
0.85 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
COM N 89DEG 52MIN 04SEC W 1231.19 FT & N 0DEG 07MIN 56SEC E 75 FT FROM SE COR SEC11, TH N0DEG 07MIN 56SEC E 114 FT, N 89
Tax Annual Amount
21600
Legal Description
COM N 89DEG 52MIN 04SEC W 1231.19 FT & N 0DEG 07MIN 56SEC E 75 FT FROM SE COR SEC11, TH N0DEG 07MIN 56SEC E 114 FT, N 89
Utilities
Utilities
Phone Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1969
Floors in Building
1
Number of units
1
Building materials
Brick
Listing Agency:
NAI Wisinski of West Michigan
(269) 353-0311
Listed By:
Jodi K Milks · License #6506044331
(269) 459-0439
Added: Jun 2
Changed: Sep 16
Last Checked: Oct 7 at 1:06AM
MLS# 26026475
Copyright © 2026 Michigan Regional Information Center, LLC. 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 freestanding office property includes a 4,258-square-foot former bank building and a separate 1,500-square-foot four-lane drive-thru. Brick construction, forced-air heating, central air, broadband, phone availability, and two bathrooms are in place. The property is available September 2026 and is zoned C Commercial in Delta Charter Township.
The site occupies a freestanding outlot along Saginaw Highway within the Lansing Mall retail corridor. Surrounding commercial activity includes national retailers, restaurants, entertainment venues, and service providers. Its existing drive-thru configuration adds a specialized improvement for users whose operations benefit from dedicated vehicle circulation.
The site occupies a freestanding outlot along Saginaw Highway within the Lansing Mall retail corridor. Surrounding commercial activity includes national retailers, restaurants, entertainment venues, and service providers. Its existing drive-thru configuration adds a specialized improvement for users whose operations benefit from dedicated vehicle circulation.
Key Highlights
- 4,258 SF freestanding former bank building
- Additional 1,500 SF four‑lane drive‑thru
- 0.85‑acre site along Saginaw Highway
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,527
Cap Rate
3.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$910,540
$910.5K
Cap Rate 7%
$650,386
$650.4K
Cap Rate 9%
$505,856
$505.9K
Market Conditions
NOI Build-Up for 4,258 SF
Gross rent
$69.0K $16.20/SF
− Vacancy
−$8.3K −$1.94/SF
EGI
$60.7K $14.26/SF
− OpEx
−$15.2K −$3.56/SF
NOI
$45.5K $10.69/SF
Area
Lansing, MI
Vacancy
12.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$910,540
Cap Rate 7%
$650,386
Cap Rate 9%
$505,856
Alternative Uses
Best Use
Specialty Retail
$650.4K
$569.1K – $758.8K
NOI $45,527 @ 7.0% cap · market cap 3.79%
Second Best
Office B
$586.9K
$513.5K – $684.7K
NOI $41,081 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$876.5K
$766.9K – $1.02M
NOI $61,353 @ 7.0% cap · market cap 5.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
672
Businesses Nearby
Explore this area
Business Placement
Demographics for 48917, MI
32,679
Population
15,975
Households
2
Avg Household Size
41
Median Age
40%
College-Educated
94%
High-School Grad
24.0 sq mi
ZIP Area
1,362
Density / Sq Mi
$73,259
Median Household Income
$47,739
Median Earnings
$1,085
Median Rent
$211,300
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 building - Freestanding commercial property with existing drive-thru infrastructure and flexible office, medical, retail, or service-oriented potential.
Where is this office building located?
The property is located at 5510 W Saginaw Highway Lansing, MI.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 4,258 SF freestanding former bank building; Additional 1,500 SF four‑lane drive‑thru; 0.85‑acre site along Saginaw Highway
