Medical Office Space with Storage
For Sale
$400,000
125 N Colony Dr, Saginaw, MI 48638
Commercial-improved medical office property with a basement and separate storage garage.
Property Size4,600 SF
Price / SF$86.96
Days on Market324
Property Features for 125 N Colony Dr
General Information
Standard status
Active
Size
4,600 SF
Total Parking Spaces
30
Property subtype
Office
Zoning
Commercial Improved
Building Details
Building Size
4,600 SF
Year Built
1990
Listing Agency:
Signature Associates - Southfield
(248) 948-0115
Listed By:
Jack Townsend · License #6506044232
(248) 948-0115
Source:
Cpix.resimplifi
Added: Oct 14, 2025
Changed: Aug 30
Last Checked: Aug 30 at 7:18PM
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 Signature Associates - Southfield
Investment Insights
Based on property information with market context.
Built in 1990, this 4,600-square-foot medical office property includes a basement beneath half of the building. The improvements also include a separate 600-square-foot storage garage with a 12' x 14' grade-level door, providing dedicated space for storage or operational needs. The building is zoned Commercial Improved and is available immediately. Its configuration supports medical, dental, day care, and other office uses identified for the property.
Key Highlights
- 4,600‑square‑foot medical office property built in 1990
- Separate 600‑square‑foot storage garage
- 12' x 14' grade‑level garage door
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
$34,816
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
8.70%
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%
$696,320
$696.3K
Cap Rate 7%
$497,371
$497.4K
Cap Rate 9%
$386,844
$386.8K
Market Conditions
NOI Build-Up for 4,600 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
$66.2K $14.40/SF
− Vacancy
−$8.2K −$1.79/SF
EGI
$58.0K $12.61/SF
− OpEx
−$23.2K −$5.05/SF
NOI
$34.8K $7.57/SF
Area
Saginaw County, MI
Vacancy
12.40%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
40.00%
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%
$696,320
Cap Rate 7%
$497,371
Cap Rate 9%
$386,844
Alternative Uses
Best Use
Office B
$643.2K
$562.8K – $750.4K
NOI $45,023 @ 7.0% cap · market cap 11.26%
Second Best
Healthcare Medical
$497.4K
$435.2K – $580.3K
NOI $34,816 @ 7.0% cap · market cap 8.70%
Theoretical Best
Specialty Retail
$849.9K
$743.7K – $991.5K
NOI $59,492 @ 7.0% cap · market cap 14.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
450
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 48638, MI
13,199
Population
6,479
Households
2
Avg Household Size
42
Median Age
36%
College-Educated
95%
High-School Grad
6.5 sq mi
ZIP Area
2,031
Density / Sq Mi
$63,444
Median Household Income
$44,281
Median Earnings
$948
Median Rent
$161,200
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.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Commercial-improved medical office property with a basement and separate storage garage.
Where is this medical office space located?
The property is located at 125 N Colony Dr Saginaw, MI.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 4,600‑square‑foot medical office property built in 1990; Separate 600‑square‑foot storage garage; 12' x 14' grade‑level garage door
