Medical Office Building with Treatment
New
For Sale
$250,000
235 S Center Road, Saginaw, MI 48638
Configured for patient-facing operations with offices, treatment rooms, waiting space, and support areas.
Property Size1,750 SF
Price / SF$142.86
Days on Market6
Property Features for 235 S Center Road
General Information
Standard status
Active
Size
1,750 SF
Property subtype
Industrial
Amenities
Central Air
69294
Building Details
Year Built
1958
Buildings
1
Tenancy
Single
Listing Agency:
(989) 737-1024
Listed By:
Real Estate One Great Lakes Bay
(989) 737-1024
Source:
Xome
Added: Aug 16
Changed: Aug 21
Last Checked: Aug 21 at 4:42AM
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 Real Estate One Great Lakes Bay
Investment Insights
Based on property information with market context.
Built in 1958, this 1,750-square-foot medical office property is currently arranged as a dental office. The floor plan includes 2 private offices, 4 treatment rooms, 2 bathrooms, a kitchen, a waiting area, side break and closet space, and substantial storage. A large basement adds additional interior space, while central air supports year-round comfort.
Recent property updates include a new heater, encapsulated crawl space, and refreshed flooring and paint. Rear parking provides convenient on-site access for staff and visitors. The existing medical-office configuration offers a defined operational layout with multiple rooms and supporting areas.
Recent property updates include a new heater, encapsulated crawl space, and refreshed flooring and paint. Rear parking provides convenient on-site access for staff and visitors. The existing medical-office configuration offers a defined operational layout with multiple rooms and supporting areas.
Key Highlights
- 1,750‑square‑foot medical office property
- Existing layout includes 2 private offices and 4 treatment rooms
- Large basement, additional storage, kitchen, and waiting area
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
$17,128
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
6.85%
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%
$342,560
$342.6K
Cap Rate 7%
$244,686
$244.7K
Cap Rate 9%
$190,311
$190.3K
Market Conditions
NOI Build-Up for 1,750 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
$26.3K $15.00/SF
− Vacancy
−$3.4K −$1.95/SF
EGI
$22.8K $13.05/SF
− OpEx
−$5.7K −$3.26/SF
NOI
$17.1K $9.79/SF
Area
Saginaw County, MI
Vacancy
13.00%
Lease Rate
$15.00 /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%
$342,560
Cap Rate 7%
$244,686
Cap Rate 9%
$190,311
Alternative Uses
Best Use
Office B
$244.7K
$214.1K – $285.5K
NOI $17,128 @ 7.0% cap · market cap 6.85%
Second Best
Healthcare Medical
$189.2K
$165.6K – $220.8K
NOI $13,245 @ 7.0% cap · market cap 5.30%
Theoretical Best
Specialty Retail
$323.3K
$282.9K – $377.2K
NOI $22,633 @ 7.0% cap · market cap 9.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
360
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 48638, MI
13,199
Population
6,479
Households
2
Avg Household Size
42
Median Age
36%
College-Educated
95%
High-School Grad
6.5 sq mi
ZIP Area
2,031
Density / Sq Mi
$63,444
Median Household Income
$44,281
Median Earnings
$948
Median Rent
$161,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Veterinary Health Center — 305 N Center Rd, Saginaw, MI 48638
- Sheets Don DVM — 305 N Center Rd, Saginaw, MI 48638
- Dr. Tina Roggenbeck — 305 N Center Rd, Saginaw, MI 48638
Frequently Asked Questions
What type of property is this?
Medical Office Space - Configured for patient-facing operations with offices, treatment rooms, waiting space, and support areas.
Where is this medical office space located?
The property is located at 235 S Center Road Saginaw, MI.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,750‑square‑foot medical office property; Existing layout includes 2 private offices and 4 treatment rooms; Large basement, additional storage, kitchen, and waiting area
