Gas and Service Station
For Sale
$525,000
1419 Davenport Ave, Saginaw, MI 48602
Operating gas station, bar, and truck rental business for sale.
Property Size1,718 SF
Lot Size0.71 Acres
Price / SF$305.59
Days on Market165
Property Features for 1419 Davenport Ave
General Information
Standard status
Active
Size
1,718 SF
Lot size
0.71 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,381
Building Details
Year Built
1967
Listing Agency:
Wilson Realty Inc.
(989) 737-3411
Listed By:
Nathon Wilson · License #6506042802
(989) 737-3411
Source:
Elliman
Added: Mar 11
Changed: Aug 14
Last Checked: Aug 21 at 1:27PM
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 Wilson Realty Inc.
Investment Insights
Based on property information with market context.
This listing features a long-standing gas and service station, including five parcels to be sold as a package. One of the parcels, located at 1419 Davenport, contains a 1,718-square-foot gas and service station with two operating gas pumps utilizing above-ground fuel tanks, and two overhead door mechanic bays. Another parcel, located at 1418 State, includes a 1,226-square-foot building currently rented and operated as The Big Ugly Fish Bar; note that no liquor license is included in the sale. The listing also includes the operating Budget truck rental business, with annual sales information available. The owner is selling due to retirement.
Key Highlights
- Established gas and service station business (Wally King) with two operating gas pumps and mechanic bays.
- Includes an operating Budget truck rental business with available sales information.
- Sale includes 5 parcels of land.
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
$22,219
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
4.23%
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%
$444,380
$444.4K
Cap Rate 7%
$317,414
$317.4K
Cap Rate 9%
$246,878
$246.9K
Market Conditions
NOI Build-Up for 1,718 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
$30.9K $18.00/SF
− Vacancy
−$1.3K −$0.76/SF
EGI
$29.6K $17.24/SF
− OpEx
−$7.4K −$4.31/SF
NOI
$22.2K $12.93/SF
Area
Saginaw County, MI
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$444,380
Cap Rate 7%
$317,414
Cap Rate 9%
$246,878
Alternative Uses
Best Use
Specialty Retail
$317.4K
$277.7K – $370.3K
NOI $22,219 @ 7.0% cap · market cap 4.23%
Second Best
Retail
$182.8K
$160.0K – $213.3K
NOI $12,796 @ 7.0% cap · market cap 2.44%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
712
Businesses Nearby
4k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 100%
Hammer Time Hardware
Home Improvements & Furnishings
3,575 visits/mo
0.2 miles
Demographics for 48602, MI
27,613
Population
12,286
Households
2.2
Avg Household Size
36
Median Age
15%
College-Educated
83%
High-School Grad
7.8 sq mi
ZIP Area
3,540
Density / Sq Mi
$46,068
Median Household Income
$29,611
Median Earnings
$902
Median Rent
$70,200
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?
Gas station - Operating gas station, bar, and truck rental business for sale.
Where is this gas station located?
The property is located at 1419 Davenport Ave Saginaw, MI.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Established gas and service station business (Wally King) with two operating gas pumps and mechanic bays.; Includes an operating Budget truck rental business with available sales information.; Sale includes 5 parcels of land.
