Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    21 N Saginaw St Pontiac, MI 48342

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Multi-family mixed-use building in up-and-coming Downtown Pontiac.

    Type:Multifamily
    Property size:
    7,500 SF
    Price / SF:
    $96/SF
    Added:
    Jul 26, 2024
    Days on Market:
    643
    Last Refresh:
    Mar 17 at 1:25 pm

    Property Features for 21 N Saginaw St

    General Information

    Standard status
    Active
    Size
    7,500 SF
    Property subtype
    Multifamily

    Building Details

    Year Built
    1920

    We can help!

    Listing Contact
    Loren Guzik

    Listing agent Loren Guzik License #481-012651

    Listing office Pike Street Properties

    Listing date Jul 26, 2024

    Source Crexi

    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 Pike Street Properties

    Overview

    Mixed-Use Building in Downtown Pontiac

    This is an investment opportunity to own a multi-family mixed-use building located in Downtown Pontiac. The building features a new roof and new windows on the facade. The units have been remodeled. The second floor contains a full-floor unit. The building is fully rented with solid demand. It is located across from the Strand Theatre and minutes from the upcoming Oakland HQ, which is across from the 100-unit redevelopment of the Oakland Town Center. The property size is 7500 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Life Triage Consultant JesMia Lofts Apartment Building Electric Love Tattoo Tattoo & Piercing Shop

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Pontiac
    County
    Oakland
    State
    Michigan
    Longitude
    -83.2925644
    Latitude
    42.6372644

    Nearby Similar for Sale

    • $499,900
      4,800 SF

      Pontiac Industrial Building with Apartment

      Industrial building with apartment near I-75 and Auburn Hills.
      1570 Baldwin Avenue, Pontiac, MI 48340
      View Details
    • $200,000
      4,904 SF

      Pontiac Vacant Commercial Building

      Vacant 4904 SF building suitable for multiple uses.
      179 EDISON Street, Pontiac, MI 48342
      View Details
    • $160,000
      1,672 SF

      Pontiac Commercial Property for Sale

      Commercially zoned property, formerly a car wash, great investment opportunity.
      684 Auburn, Pontiac, MI 48342
      View Details
    • $700,000
      4,804 SF

      Pontiac Multifamily Investment Opportunity

      Renovated 11-unit apartment building in a profitable area.
      98 S Edith Street, Pontiac, MI 48342
      View Details
    • $1,900,000
      12,746 SF

      Turn-Key Pontiac Apartment Complex

      Profitable 18-unit apartment complex with recent renovations and strong income potential.
      51 SPOKANE Drive, Pontiac, MI 48341
      View Details
    • $249,900
      1,000 SF

      Waterford Commercial Building on Voorheis

      Remodeled 1,000 SF building with high visibility.
      2409 Voorheis Street, Waterford, MI 48341
      View Details
    • $700,000
      5,000 SF

      Renovated 11-Unit Apartment Building

      Profitable investment opportunity with renovated units and strong cash flow.
      98 S Edith Street, Pontiac, MI 48342
      View Details
    • $1,900,000
      12,746 SF

      Turn-Key Multifamily Investment Opportunity

      Profitable 18-unit apartment complex with recent renovations and strong income potential.
      51 SPOKANE Drive, Pontiac, MI 48341
      View Details
    • $850,000
      984 SF

      M1 Concourse Private Garage

      Luxury garage with racetrack views, golf simulator, and smart home.
      135 Speed Way, Pontiac, MI 48341
      View Details
    • $149,900
      2,616 SF

      Pontiac Commercial Property with Development Potential

      Well-maintained commercial building with income and multi-family development opportunity.
      349 E Pike Street, Pontiac, MI 48342
      View Details
    • $969,000
      1,191 SF

      M1 Concourse Private Garage Unit

      Private garage unit with trackside patio in Pontiac, Michigan.
      161 W SPEED Way, Pontiac, MI 48341
      View Details
    • $200,000
      1,854 SF

      Turnkey Pontiac Income Property

      Three-unit income property with updates, city certifications, and fenced yard.
      22 Augusta Avenue, Pontiac, MI 48341
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Multi-family mixed-use building in up-and-coming Downtown Pontiac.
    Where is this multifamily property located?
    The property is located at 21 N Saginaw St Pontiac, MI.
    What is the asking price?
    The asking price for this property is $725,000.
    What are key features of this property?
    This property features: Fully rented building in up‑and‑coming Downtown Pontiac; Live in an owner's unit for free while renting out the rest of the building; Recent upgrades include a complete roof tear‑off and new facade windows
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Loren Guzik
    Real Estate License ID: 481-012651
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!