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12950 Brady Road, Chesaning, MI 48616
Versatile 9,000 sq. ft. building at a major intersection.
Property Size8,895 SF
Price / SF$95.56
Days on Market295
Property Features for 12950 Brady Road
General Information
Standard status
Active
Size
8,895 SF
Class
B
Total Parking Spaces
100
Property subtype
Retail
Zoning
Commercial
Occupancy
100%
Lease Type
NNN
Investment Type
Sale/Leaseback
Net Operating Income
$68,000
Building Details
Year Built
1965
Year Renovated
2026
Units
1
Tenancy
Single
Listing Agency:
CENTURY 21 Lee-Mac Realty
(989) 737-3927
Listed By:
Bob Fall · License #6506049037
Source:
Crexi
Added: Oct 31, 2025
Changed: Aug 14
Last Checked: Aug 19 at 8:58PM
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 CENTURY 21 Lee-Mac Realty
Investment Insights
Based on property information with market context.
This 8,895 sq. ft. commercial building is located at the intersection of M-52 and M-57. The property was formerly a restaurant and banquet center. The exterior has been recently updated. The interior features expansive open areas and multiple entrances. Ample parking is available. The property offers potential for retail, dining, event space, or redevelopment. It is located at the crossroads of two major routes.
Key Highlights
- Prime location at the intersection of M‑52 and M‑57 with high traffic counts.
- Versatile 9,000 sq. ft. commercial building suitable for retail, dining, event space, or redevelopment.
- Recently updated exterior providing excellent curb appeal.
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
$66,251
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
7.79%
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%
$1,325,020
$1.3M
Cap Rate 7%
$946,443
$946.4K
Cap Rate 9%
$736,122
$736.1K
Market Conditions
NOI Build-Up for 8,895 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
$115.3K $12.96/SF
− Vacancy
−$20.6K −$2.32/SF
EGI
$94.6K $10.64/SF
− OpEx
−$28.4K −$3.19/SF
NOI
$66.3K $7.45/SF
Area
Saginaw County, MI
Vacancy
17.90%
Lease Rate
$12.96 /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%
$1,325,020
Cap Rate 7%
$946,443
Cap Rate 9%
$736,122
Alternative Uses
Best Use
Retail
$946.4K
$828.1K – $1.10M
NOI $66,251 @ 7.0% cap · market cap 7.79%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.64M
$1.44M – $1.92M
NOI $115,039 @ 7.0% cap · market cap 13.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Explore this area
Business Placement
Demographics for 48616, MI
7,458
Population
3,226
Households
2.3
Avg Household Size
45
Median Age
14%
College-Educated
92%
High-School Grad
81.1 sq mi
ZIP Area
92
Density / Sq Mi
$67,801
Median Household Income
$39,141
Median Earnings
$744
Median Rent
$153,400
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 - Versatile 9,000 sq. ft. building at a major intersection.
Where is this retail space located?
The property is located at 12950 Brady Road Chesaning, MI.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Prime location at the intersection of M‑52 and M‑57 with high traffic counts.; Versatile 9,000 sq. ft. commercial building suitable for retail, dining, event space, or redevelopment.; Recently updated exterior providing excellent curb appeal.
