Retail Building with Private
For Sale
$310,000
525 N Saginaw St, Lapeer, MI 48446
Corner-lot retail building includes a 11-space private parking lot, rear loading access, and two restrooms.
Property Size3,000 SF
Price / SF$103.33
Days on Market83
Property Features for 525 N Saginaw St
General Information
Standard status
Active
Size
3,000 SF
Total Parking Spaces
11
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,160
Building Details
Year Built
1940
Units
1
Listing Agency:
M77 LLC
(248) 506-4158
Listed By:
Justice Johnson
(248) 506-4158
Source:
Elliman
Added: Jun 1
Changed: Aug 14
Last Checked: Aug 21 at 10:42AM
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 M77 LLC
Investment Insights
Based on property information with market context.
This retail building sits on a busy corner lot and totals 3,000 square feet. The interior layout is described as adaptable, offering flexibility for a range of retail or service uses, and includes two restrooms.
A private parking lot with 11 spaces is provided on-site, and a shared driveway leads to a rear loading area for deliveries and operations. The property is positioned in Downtown Lapeer and is noted for convenient access.
Access and operations are supported by the combination of on-site parking and rear loading area connectivity, with the remaining space configured for tenant-specific buildout.
A private parking lot with 11 spaces is provided on-site, and a shared driveway leads to a rear loading area for deliveries and operations. The property is positioned in Downtown Lapeer and is noted for convenient access.
Access and operations are supported by the combination of on-site parking and rear loading area connectivity, with the remaining space configured for tenant-specific buildout.
Key Highlights
- 3,000 sq. ft. downtown Lapeer commercial building built in 1940
- Corner lot location with a private parking lot featuring 11 spaces
- Shared driveway provides access to a rear loading area for deliveries and operations
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
$20,689
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
6.67%
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%
$413,780
$413.8K
Cap Rate 7%
$295,557
$295.6K
Cap Rate 9%
$229,878
$229.9K
Market Conditions
NOI Build-Up for 3,000 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
$36.0K $12.00/SF
− Vacancy
−$6.4K −$2.15/SF
EGI
$29.6K $9.85/SF
− OpEx
−$8.9K −$2.96/SF
NOI
$20.7K $6.90/SF
Area
Lapeer County, MI
Vacancy
17.90%
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%
$413,780
Cap Rate 7%
$295,557
Cap Rate 9%
$229,878
Alternative Uses
Best Use
Retail
$295.6K
$258.6K – $344.8K
NOI $20,689 @ 7.0% cap · market cap 6.67%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$491.3K
$429.9K – $573.2K
NOI $34,389 @ 7.0% cap · market cap 11.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
372
Businesses Nearby
33k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 72%
Home Improvements & Furnishings 28%
Sunoco
Shops & Services
10,684 visits/mo
0.4 miles
Harbor Freight Tools
Home Improvements & Furnishings
8,554 visits/mo
0.5 miles
Dollar General
Shops & Services
7,139 visits/mo
0.5 miles
Advance Auto Parts
Shops & Services
2,970 visits/mo
0.5 miles
Milnes Ford, Inc
Shops & Services
2,208 visits/mo
0.5 miles
Demographics for 48446, MI
30,788
Population
12,797
Households
2.4
Avg Household Size
45
Median Age
20%
College-Educated
93%
High-School Grad
121.9 sq mi
ZIP Area
253
Density / Sq Mi
$66,382
Median Household Income
$40,263
Median Earnings
$976
Median Rent
$206,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Corner-lot retail building includes a 11-space private parking lot, rear loading access, and two restrooms.
Where is this retail space located?
The property is located at 525 N Saginaw St Lapeer, MI.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: 3,000 sq. ft. downtown Lapeer commercial building built in 1940; Corner lot location with a private parking lot featuring 11 spaces; Shared driveway provides access to a rear loading area for deliveries and operations
