Live-Work Property with Commercial
For Sale
$165,000
1200 Martha Street, Saginaw, MI 48601
Commercial zoning supports a combined business and residential configuration with an equipped food-service area.
Property Size2,496 SF
Days on Market112
Property Features for 1200 Martha Street
General Information
Standard status
Active
Size
2,496 SF
Property subtype
Commercial
Zoning
Commercial
Building Details
Building Size
2,496 SF
Year Built
1894
Listing Agency:
JPAR - Great Lakes Bay Region
(989) 415-8254
Listed By:
Melissa L Reed · License #SBR-6502433215
(989) 415-8254
Source:
Carolbollo
Added: May 12
Changed: Aug 29
Last Checked: Aug 30 at 5:41PM
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 JPAR - Great Lakes Bay Region
Investment Insights
Based on property information with market context.
Located at 1200 Martha Street in Saginaw, Michigan, this live-work property combines a commercial operation area with upper-level living space. The main floor includes a commercial kitchen with equipment, coolers, and related fixtures included. A separate back room adds flexible interior area for customer seating or other business functions.
The second floor contains three bedrooms, a full bathroom, laundry room, and a large living area. Two additional lots, identified as ID#09 0421 0000 and 09 0422 0000, are included with the property and provide parking area and additional outdoor space. The property is zoned commercial.
The second floor contains three bedrooms, a full bathroom, laundry room, and a large living area. Two additional lots, identified as ID#09 0421 0000 and 09 0422 0000, are included with the property and provide parking area and additional outdoor space. The property is zoned commercial.
Key Highlights
- Commercial kitchen includes equipment, coolers, and related fixtures
- Second floor includes 3 bedrooms, a full bathroom, laundry room, and living area
- Sale includes two additional lots: ID#09 0421 0000 and 09 0422 0000
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
$13,015
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
7.89%
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%
$260,300
$260.3K
Cap Rate 7%
$185,929
$185.9K
Cap Rate 9%
$144,611
$144.6K
Market Conditions
NOI Build-Up for 2,496 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
$19.5K $7.80/SF
− Vacancy
−$876 −$0.35/SF
EGI
$18.6K $7.45/SF
− OpEx
−$5.6K −$2.23/SF
NOI
$13.0K $5.21/SF
Area
Saginaw County, MI
Vacancy
4.50%
Lease Rate
$7.80 /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%
$260,300
Cap Rate 7%
$185,929
Cap Rate 9%
$144,611
Alternative Uses
Best Use
Specialty Retail
$461.2K
$403.5K – $538.0K
NOI $32,281 @ 7.0% cap · market cap 19.56%
Second Best
Office B
$349.0K
$305.4K – $407.2K
NOI $24,430 @ 7.0% cap · market cap 14.81%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
426
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - Commercial zoning supports a combined business and residential configuration with an equipped food-service area.
Where is this live-work space located?
The property is located at 1200 Martha Street Saginaw, MI.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: Commercial kitchen includes equipment, coolers, and related fixtures; Second floor includes 3 bedrooms, a full bathroom, laundry room, and living area; Sale includes two additional lots: ID#09 0421 0000 and 09 0422 0000
