Building Details

Building Size 4,500 SF

Year Built 1950

Listing Agency: Century 21 Signature Realty

Listed By: Ken Kujawa · License #6502333762 Show Phone

Source: Buskardgroup

Added: Oct 19 Changed: Oct 22 Last Checked: Oct 22 at 2:27PM

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Investment Insights

Based on property information with market context.

This industrial property is a 4,500-square-foot garage building constructed in 1950. The site is zoned Commercial. Its parcel size may be adjusted to accommodate additional acquisition requirements.

Key Highlights

• 4,500‑square‑foot industrial garage building
• Commercial zoning
• Built in 1950

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$23,464

Cap Rate

8.85%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$469,280 $469.3K

Cap Rate 7%

$335,200 $335.2K

Cap Rate 9%

$260,711 $260.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,500 SF

Gross rent

$35.1K $7.80/SF

− Vacancy

−$1.6K −$0.35/SF

EGI

$33.5K $7.45/SF

− OpEx

−$10.1K −$2.23/SF

NOI

$23.5K $5.21/SF

Area

Saginaw County, MI

Vacancy

4.50%

Lease Rate

$7.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$469,280

Cap Rate 7%

$335,200

Cap Rate 9%

$260,711

Alternative Uses

Best Use

Industrial

$335.2K

$293.3K – $391.1K (±1% cap)

NOI $23,464 @ 7.0% cap · market cap 8.85%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$831.4K

$727.5K – $970.0K (±1% cap)

NOI $58,199 @ 7.0% cap · market cap 21.96%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Chesaning Body Shop ... Auto Repair Shop

Suggested Use

Top Pick Law Firm Parking Lot & Garage HVAC Service Big Box & Wholesale Store Real Estate Agency Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

275

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 Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Frequently Asked Questions

What type of property is this?

Industrial property - The commercial-zoned property offers a garage configuration for industrial use.

Where is this industrial property located?

The property is located at 205 N Wood Street Chesaning, MI.

What is the asking price?

The asking price for this property is $265,000.

What are key features of this property?

This property features: 4,500‑square‑foot industrial garage building; Commercial zoning; Built in 1950