Listing Agency: Trademark Commercial Group

Listed By: Gretchen Witherspoon,SIOR,CCIM Show Phone

Source: Moodyscre

Added: May 16 Changed: Oct 3 Last Checked: Oct 5 at 8:43PM

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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 Trademark Commercial Group

Investment Insights

Based on property information with market context.

The property is a 1,602-square-foot former financial institution building on a 1.03-acre site zoned B-2 commercial. The deed restriction limits use to a financial institution or wealth management user for three years from the start date, but other uses may be applicable based on township zoning requirements.

The site provides drive-thru access all the way around the building. An ATM is not included in the sale.

For confidential showings and additional details, contact Trademark Commercial.

Key Highlights

• 1,602 SF former financial institution building in Albee Township (Burt, MI)
• Deed restricted: use as a financial institution or wealth management user is restricted for 3 years from the start date
• Commercial site totals 1.03 acres and is zoned B‑2

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,680

Cap Rate

8.04%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$313,600 $313.6K

Cap Rate 7%

$224,000 $224.0K

Cap Rate 9%

$174,222 $174.2K

Market Conditions

NOI Build-Up for 1,602 SF

Gross rent

$24.0K $15.00/SF

− Vacancy

−$3.1K −$1.95/SF

EGI

$20.9K $13.05/SF

− OpEx

−$5.2K −$3.26/SF

NOI

$15.7K $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 Rate 5%

$313,600

Cap Rate 7%

$224,000

Cap Rate 9%

$174,222

Alternative Uses

Best Use

Office B

$224.0K

$196.0K – $261.3K (±1% cap)

NOI $15,680 @ 7.0% cap · market cap 8.04%

Second Best

Retail

$170.5K

$149.2K – $198.9K (±1% cap)

NOI $11,932 @ 7.0% cap · market cap 6.12%

Theoretical Best

Specialty Retail

$296.0K

$259.0K – $345.3K (±1% cap)

NOI $20,719 @ 7.0% cap · market cap 10.63%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

The State Bank - Connect! ... Bank ATM Atm Community State Bank Bank

Suggested Use

Top Pick HVAC Service Storage Facility Big Box & Wholesale Store Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

17

Businesses Nearby

Explore this area Business Placement

Demographics for 48417, MI

2,612

Population

1,064

Households

2.5

Avg Household Size

45

Median Age

7%

College-Educated

89%

High-School Grad

23.2 sq mi

ZIP Area

113

Density / Sq Mi

$70,280

Median Household Income

$49,024

Median Earnings

$875

Median Rent

$163,700

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this office units located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Office units - Former financial institution building with drive-thru access on a 1.03-acre B-2 commercial site.

Where is this office units located?

The property is located at 10811 Albee Rd Burt, MI.

What is the asking price?

The asking price for this property is $195,000.

What are key features of this property?

This property features: 1,602 SF former financial institution building in Albee Township (Burt, MI); Deed restricted: use as a financial institution or wealth management user is restricted for 3 years from the start date; Commercial site totals 1.03 acres and is zoned B‑2