Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1251 Evergreen Dr Bay City, MI 48706

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    5.66 acres on Saginaw River with 470' frontage.

    Lot size:
    5.66 Acres

    Property Features for 1251 Evergreen Dr

    General Information

    Lot size
    5.66 Acres

    We can help!

    Listing Contact
    Sandra J. Covaleski
    Sandra J. Covaleski
    Source: Moodyscre

    Listing Agency: Commercial Equities Listing Agent: Sandra J. Covaleski

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Saginaw River Waterfront Land Parcel

    Two parcels, 1225 and 1251 Evergreen, totaling approximately 5.66 acres, are situated on the Saginaw River, featuring 470 feet of water frontage. The property includes a 6,200 square foot pole building, which contains two restrooms, an office, and an open workshop area. Boat slips and a boat launch/ramp are present on the property; however, the boat slips on the north end are excluded from the sale price. The price does include the boat lift. The seawall is reported to be in good condition. The property is gated and fenced. The acreage offers space for possible camp sites.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Middleground Marina Marina

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bay City
    County
    Bay
    State
    Michigan
    Longitude
    -83.905401
    Latitude
    43.570516

    Nearby Similar for Sale

    • $175,000
      7,920 SF

      Commercial Property on Wilder Road

      High-exposure commercial property on Wilder Road, ready for retail/office.
      2515 E Wilder Rd, Bay City, MI 48706
      View Details
    • $299,900
      7,802 SF

      Historic Mixed-Use Investment Opportunity

      Commercial building with storefronts and residential units in historic district.
      703 E Midland St, Bay City, MI 48708
      View Details
    • New
      $565,000
      14,202 SF

      Industrial Buildings with Yard Space

      Large industrial buildings suitable for warehousing, logistics, storage, and more.
      2429 2 Mile Rd, Bay City, MI 48706
      View Details
    • $119,900
      1,055 SF

      Commercial Building on High-Traffic Road

      Commercial building with private parking on a high-traffic corner.
      1200 N Henry St, Bay City, MI 48706
      View Details
    • $300,000
      Pending

      Bay City Industrial Warehouse Building

      Light industrial warehouse on two parcels totaling 1.01 acres.
      7338 W Saginaw St, Bay City, MI 48706
      View Details
    • $230,000
      2,700 SF

      Bay City Live-Work Opportunity

      RM-1 zoned property with home occupation use and business potential.
      512 Germania Ave, Bay City, MI 48706
      View Details
    • $149,900
      2,681 SF

      Multi-Unit Property with Commercial Space

      Three-unit property featuring a commercial space and residential units.
      206 Marquette St, Bay City, MI 48706
      View Details
    • $135,000
      2,831 SF

      Three-Unit Apartment Building Investment

      Three-unit apartment building with immediate cash flow potential.
      300 S Farragut St, Bay City, MI 48708
      View Details
    • New
      $89,900
      1,820 SF

      Bay City Convenience Store Investment

      Neighborhood convenience store with upper unit, a long-term tenant.
      1501 Park St, Bay City, MI 48708
      View Details
    • New
      $89,000
      1,548 SF

      Bay City Two-Unit Property

      Two-unit property with detached garage in Bay City, Michigan.
      216 N Grant St, Bay City, MI 48708
      View Details
    • $299,900
      7,802 SF

      Historic Mixed-Use Investment Opportunity

      Mixed-use property in the Midland Street Historic District.
      703 E Midland St, Bay City, MI 48708
      View Details
    • $199,000
      6,000 SF

      Versatile Commercial Building in Bay City

      6000 sq ft commercial building with flexible layout.
      804 N Euclid Ave, Bay City, MI 48706
      View Details

    FAQs

    What type of property is this?
    Commercial land - 5.66 acres on Saginaw River with 470' frontage.
    Where is this commercial land located?
    The property is located at 1251 Evergreen Dr Bay City, MI.
    What are key features of this property?
    This property features: - 5.66 acres on the Saginaw River with **470' of water frontage**; - 6,200 SF pole building with office and workshop; - Boat launch/ramp included
    (989) 450-2236 Call to check price and availability
    Request Owner's contact information
    1251 Evergreen Dr Bay City, MI 48706
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1251 Evergreen Dr
    Bay City, MI 48706
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1251 Evergreen Dr Bay City, MI 48706
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Sandra J. Covaleski
    Sandra J. Covaleski
    (989) 450-2236 (989) 684-4800
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!