Drive-Up Self-Storage
For Sale
Contact for pricing
10101 N Saginaw Rd, Clio, MI 48420
Drive-up, non-climate-controlled units are complemented by outdoor parking and two flex spaces.
Property Size58,300 SF
Lot Size15.21 Acres
Price / SF$137.82
Days on Market47
Property Features for 10101 N Saginaw Rd
General Information
Standard status
Active
Size
58,300 SF
Lot size
15.21 Acres
Property subtype
Self Storage
Occupancy
91%
Investment Type
Stabilized
Net Operating Income
$533,597
Financials
Asking Price
$8,035,000
Cap Rate
6.64%
Additional Details
Road Access
Yes
Self-Storage Units
298
Building Details
Buildings
1
Units
298
Tenancy
Multi
Listing Agency:
Grandstone Investment Sales
Listed By:
Meir Perlmuter · License #BK3443325
Source:
Crexi
Added: Jul 15
Changed: Aug 30
Last Checked: Aug 30 at 11:38AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Grandstone Investment Sales
Investment Insights
Based on property information with market context.
Clio Spare Room Storage is a 298-unit self-storage facility with 58,300 net rentable square feet on a 15.21-acre parcel. The property includes 255 non-climate-controlled storage units, 41 uncovered parking spaces, and two flex spaces totaling 7,900 NRSF. The storage units are drive-up accessible, and the flex spaces are leased through 2029.
The facility fronts N. Saginaw Road at 10101 N. Saginaw Road in Clio, Michigan. The roadway carries approximately 9,744 vehicles per day and provides access to the surrounding trade area. A contractual parking lease with Manheim Michigan covers approximately 10 acres of the site, adding a separate use component to the property.
Current operations reflect 91.55% physical occupancy and 84.90% economic occupancy. The property is located in Genesee County and combines storage, outdoor parking, and flex space within one commercial facility.
The facility fronts N. Saginaw Road at 10101 N. Saginaw Road in Clio, Michigan. The roadway carries approximately 9,744 vehicles per day and provides access to the surrounding trade area. A contractual parking lease with Manheim Michigan covers approximately 10 acres of the site, adding a separate use component to the property.
Current operations reflect 91.55% physical occupancy and 84.90% economic occupancy. The property is located in Genesee County and combines storage, outdoor parking, and flex space within one commercial facility.
Key Highlights
- 298‑unit self‑storage facility with 58,300 net rentable square feet
- 15.21‑acre site with 255 storage units, 41 uncovered parking spaces, and 2 flex spaces
- Drive‑up, non‑climate‑controlled storage configuration
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
$465,234
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
5.79%
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%
$9,304,680
$9.3M
Cap Rate 7%
$6,646,200
$6.6M
Cap Rate 9%
$5,169,267
$5.2M
Market Conditions
NOI Build-Up for 58,300 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
$699.6K $12.00/SF
− Vacancy
−$35.0K −$0.60/SF
EGI
$664.6K $11.40/SF
− OpEx
−$199.4K −$3.42/SF
NOI
$465.2K $7.98/SF
Area
Genesee County, MI
Vacancy
5.00%
Lease Rate
$12.00 /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%
$9,304,680
Cap Rate 7%
$6,646,200
Cap Rate 9%
$5,169,267
Alternative Uses
Best Use
Self Storage
$6.65M
$5.82M – $7.75M
NOI $465,234 @ 7.0% cap · market cap 5.79%
Second Best
Warehouse
$5.73M
$5.01M – $6.68M
NOI $400,950 @ 7.0% cap · market cap 4.99%
Theoretical Best
Office A
$12.27M
$10.73M – $14.31M
NOI $858,751 @ 7.0% cap · market cap 10.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
49
Businesses Nearby
Explore this area
Business Placement
Demographics for 48420, MI
21,771
Population
9,136
Households
2.4
Avg Household Size
45
Median Age
18%
College-Educated
91%
High-School Grad
66.4 sq mi
ZIP Area
328
Density / Sq Mi
$63,427
Median Household Income
$40,420
Median Earnings
$797
Median Rent
$177,800
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Drive-up, non-climate-controlled units are complemented by outdoor parking and two flex spaces.
Where is this self storage facility located?
The property is located at 10101 N Saginaw Rd Clio, MI.
What is the asking price?
The asking price for this property is $8,035,000.
What are key features of this property?
This property features: 298‑unit self‑storage facility with 58,300 net rentable square feet; 15.21‑acre site with 255 storage units, 41 uncovered parking spaces, and 2 flex spaces; Drive‑up, non‑climate‑controlled storage configuration
