Commercial Building with Drive-Up
For Sale
Contact for pricing
2706 N Saginaw Rd, Midland, MI 48640
Updated commercial building with a canopy-covered drive-up window and back parking near the hospital on N. Saginaw Rd.
Property Size5,746 SF
Price / SF$155.76
Days on Market859
Property Features for 2706 N Saginaw Rd
General Information
Standard status
Active
Size
5,746 SF
Property subtype
RETAIL
Additional Details
Traffic Count
22,000 vehicles/day
Listing Agency:
CENTURY 21 Signature Realty
(989) 239-5581
Listed By:
Kenneth M. Kujawa · License #6502333762
(989) 239-5581
Source:
Moodyscre
Added: Apr 3, 2024
Changed: Aug 8
Last Checked: Aug 8 at 9:47AM
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 Signature Realty
Investment Insights
Based on property information with market context.
This updated commercial building is offered for sale and includes space suited for medical, retail, or professional office uses. The property features a convenient drive-up window sheltered by a canopy, along with generous parking located at the back of the building.
The building is positioned near the hospital on N. Saginaw Rd, directly across from Midland County’s largest employer. Public remarks also cite traffic exceeding 22,000 vehicles per day, supporting strong day-to-day visibility for prospective tenants or buyers.
At approximately 5,746 square feet, the interior layout is presented as flexible for a range of front-facing and service-oriented operations, supported by the drive-up amenity and on-site customer parking.
The building is positioned near the hospital on N. Saginaw Rd, directly across from Midland County’s largest employer. Public remarks also cite traffic exceeding 22,000 vehicles per day, supporting strong day-to-day visibility for prospective tenants or buyers.
At approximately 5,746 square feet, the interior layout is presented as flexible for a range of front-facing and service-oriented operations, supported by the drive-up amenity and on-site customer parking.
Key Highlights
- 6,000 SF updated commercial building suitable for medical, retail, and professional office use
- Canopy‑covered drive‑up window for convenient customer access
- Generous back parking available on‑site
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
$57,589
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
6.43%
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%
$1,151,780
$1.2M
Cap Rate 7%
$822,700
$822.7K
Cap Rate 9%
$639,878
$639.9K
Market Conditions
NOI Build-Up for 5,746 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
$103.4K $18.00/SF
− Vacancy
−$7.4K −$1.30/SF
EGI
$96.0K $16.70/SF
− OpEx
−$38.4K −$6.68/SF
NOI
$57.6K $10.02/SF
Area
Midland County, MI
Vacancy
7.20%
Lease Rate
$18.00 /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%
$1,151,780
Cap Rate 7%
$822,700
Cap Rate 9%
$639,878
Alternative Uses
Best Use
Healthcare Medical
$822.7K
$719.9K – $959.8K
NOI $57,589 @ 7.0% cap · market cap 6.43%
Second Best
Office B
$771.3K
$674.9K – $899.8K
NOI $53,989 @ 7.0% cap · market cap 6.03%
Theoretical Best
Flex RnD
$1.04M
$907.5K – $1.21M
NOI $72,597 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
22,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,018
Businesses Nearby
Explore this area
Business Placement
Demographics for 48640, MI
31,840
Population
14,340
Households
2.2
Avg Household Size
41
Median Age
38%
College-Educated
96%
High-School Grad
105.1 sq mi
ZIP Area
303
Density / Sq Mi
$81,630
Median Household Income
$43,353
Median Earnings
$928
Median Rent
$191,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Updated commercial building with a canopy-covered drive-up window and back parking near the hospital on N. Saginaw Rd.
Where is this retail space located?
The property is located at 2706 N Saginaw Rd Midland, MI.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: 6,000 SF updated commercial building suitable for medical, retail, and professional office use; Canopy‑covered drive‑up window for convenient customer access; Generous back parking available on‑site
