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    Industrial Warehouse with Overhead Doors Title is generated by Realmo AI

    1901 W Saginaw St, Lansing, MI 48915

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    For Sale
    $550,000

    Historic 1923 warehouse with heavy power, three overhead drive-in doors, and dedicated mezzanine and showroom-ready space.

    Type:Retail, Industrial
    Property size:
    12,208 SF
    Price / SF:
    $45/SF
    Added:
    Jun 2, 2026
    Days on Market:
    5
    Last Refresh:
    Jun 5 at 2:51 am

    Property Features for 1901 W Saginaw St

    General Information

    Standard status
    Active
    Size
    12,208 SF
    Property subtype
    Retail, Industrial

    Building Details

    Year Built
    1923

    We can help!

    Listing Contact
    Matthew Wisniewski
    Matthew Wisniewski

    Listing agent Matthew Wisniewski License #6501360426

    Listing office RE/MAX COMMERCIAL GROUP

    Listing date Jun 2, 2026

    Source Cpix.resimplifi

    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 RE/MAX COMMERCIAL GROUP

    HighLights

    • 12,207 SF historic 1923 retail warehouse with additional 8,000 SF mezzanine/2nd floor storage and office space
    • Heavy‑duty 3‑phase electric service with extensive electrical infrastructure for product display, lighting, and heavy appliance testing
    • Three overhead drive‑in doors for loading and access: two 8' high doors and one 7' high door
    • Recently recoated roof (50‑year material) completed 3 years ago
    • Three independent staircases provide access to the 2nd floor/mezzanine, plus 2 restrooms on the main showroom floor
    • High‑visibility frontage on W Saginaw St on the hard corner of Verlinden

    Overview

    Built in 1923, this 12,207 SF industrial warehouse offers a distinctive, durable foundation for modern uses. The main floor functions as a showroom-style space with two restrooms, supported by substantial electrical infrastructure throughout. A second floor/mezzanine area provides approximately 8,000 SF of storage and office space, served by three independent staircases for practical access.

    The property is positioned on prominent frontage along the W Saginaw St corridor on a hard corner of Verlinden, supporting high visibility for retail warehouse and flexible tenant concepts. Loading and access are handled by three overhead drive-in doors: two 8' high doors and one 7' high door. Power is a heavy-duty 3-phase electric service, and the roof was recoated about three years ago with a premium 50-year material.

    With its mix of ground-floor showroom space and upper-level storage/office, the building suits a range of operators seeking flex, warehouse, or retail warehouse functionality. The layout and mezzanine configuration also allow for customization by removing portions of the mezzanine to open the ceiling and expose original 1923 metal trusses, creating a high-ceiling industrial environment appropriate for uses like adaptive reuse, creative production, or a modern showroom format.
    Location Intelligence

    Current Use by Public Records

    J & J Appliance ... Home Appliance Store BH Electronics Corporate Office

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lansing
    County
    Eaton
    State
    Michigan
    Longitude
    -84.577721
    Latitude
    42.740711

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    FAQs

    What type of property is this?
    Flex space - Historic 1923 warehouse with heavy power, three overhead drive-in doors, and dedicated mezzanine and showroom-ready space.
    Where is this flex space located?
    The property is located at 1901 W Saginaw St Lansing, MI.
    What is the asking price?
    The asking price for this property is $550,000.
    What are key features of this property?
    This property features: 12,207 SF historic 1923 retail warehouse with additional 8,000 SF mezzanine/2nd floor storage and office space; Heavy‑duty 3‑phase electric service with extensive electrical infrastructure for product display, lighting, and heavy appliance testing; Three overhead drive‑in doors for loading and access: two 8' high doors and one 7' high door
    (517) 321-2800
    We can help!
    Listing Contact
    Matthew Wisniewski
    Matthew Wisniewski
    Real Estate License ID: 6501360426
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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