Mixed-Use Property with
For Sale
$799,900
548 Shattuck Rd, Saginaw, MI 48604
B-2-zoned property combines occupied residential and warehouse components with vacant commercial space for lease-up.
Property Size11,840 SF
Price / SF$67.56
Days on Market920
Property Features for 548 Shattuck Rd
General Information
Standard status
Active
Size
11,840 SF
Property subtype
Multifamily
Zoning
B-2
Building Details
Building Size
11,840 SF
Year Built
1972
Buildings
2
Stories
2
Listing Agency:
The Miller Group of Saginaw Inc.
(989) 790-2611
Listed By:
Bob Morford
(989) 790-2611
Source:
Cpix.resimplifi
Added: Feb 23, 2024
Changed: Aug 31
Last Checked: Aug 31 at 3:12AM
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 The Miller Group of Saginaw Inc.
Investment Insights
Based on property information with market context.
This mixed-use property contains eight residential units, an 8,000-square-foot warehouse, and more than 3,000 square feet of commercial space. The residential units and warehouse are each reported as 100% occupied, while the commercial area is vacant. Built in 1972, the property totals 11,840 square feet and is zoned B-2.
The commercial component supports a broad range of permitted uses, including retail, restaurant, personal services, medical and dental offices, professional offices, coworking, daycare, and fitness uses. Existing permitted-use flexibility provides a basis for leasing the available commercial area while the residential and warehouse portions remain occupied. The property is located at 548 Shattuck Rd in Saginaw, Michigan.
The commercial component supports a broad range of permitted uses, including retail, restaurant, personal services, medical and dental offices, professional offices, coworking, daycare, and fitness uses. Existing permitted-use flexibility provides a basis for leasing the available commercial area while the residential and warehouse portions remain occupied. The property is located at 548 Shattuck Rd in Saginaw, Michigan.
Key Highlights
- 11,840‑square‑foot mixed‑use property built in 1972
- Eight residential units, reported 100% occupied
- 8,000‑square‑foot warehouse, reported 100% occupied
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
$66,627
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
8.33%
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%
$1,332,540
$1.3M
Cap Rate 7%
$951,814
$951.8K
Cap Rate 9%
$740,300
$740.3K
Market Conditions
NOI Build-Up for 11,840 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
$126.5K $10.68/SF
− Vacancy
−$5.3K −$0.45/SF
EGI
$121.1K $10.23/SF
− OpEx
−$54.5K −$4.60/SF
NOI
$66.6K $5.63/SF
Area
Saginaw County, MI
Vacancy
4.20%
Lease Rate
$10.68 /SF/Yr
Expense Ratio
45.00%
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%
$1,332,540
Cap Rate 7%
$951,814
Cap Rate 9%
$740,300
Alternative Uses
Best Use
Mixed Use
$1.37M
$1.20M – $1.60M
NOI $95,904 @ 7.0% cap · market cap 11.99%
Second Best
Warehouse
$1.16M
$1.01M – $1.35M
NOI $81,156 @ 7.0% cap · market cap 10.15%
Theoretical Best
Specialty Retail
$2.19M
$1.91M – $2.55M
NOI $153,127 @ 7.0% cap · market cap 19.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
119
Businesses Nearby
Explore this area
Business Placement
Demographics for 48604, MI
12,386
Population
4,603
Households
2.7
Avg Household Size
29
Median Age
24%
College-Educated
95%
High-School Grad
26.3 sq mi
ZIP Area
471
Density / Sq Mi
$53,804
Median Household Income
$18,887
Median Earnings
$928
Median Rent
$93,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - B-2-zoned property combines occupied residential and warehouse components with vacant commercial space for lease-up.
Where is this mixed-use property located?
The property is located at 548 Shattuck Rd Saginaw, MI.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: 11,840‑square‑foot mixed‑use property built in 1972; Eight residential units, reported 100% occupied; 8,000‑square‑foot warehouse, reported 100% occupied
