Retail Space with Drive-Up
For Sale
$895,000
2706 N Saginaw Road, Midland, MI 48640
COMMERCIAL - Midland, MI
Property Size6,000 SF
Lot Size0.92 Acres
Price / SF$149.17
Days on Market353
Property Features for 2706 N Saginaw Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking features
Parking Lot
Lot features
Bus Service Near Site, Main Street
Subdivision
Midland (56020)
Standard status
Active
APN
140550090
Size
6,000 SF
Lot size
0.92 Acres
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1998
Roof type
Metal
Listing Agency:
Century 21 Signature Realty · Century 21 Real Estate
(989) 921-7000
Listed By:
Ken Kujawa · License #6502333762
(989) 239-5581
Added: Aug 25, 2025
Changed: Aug 4
Last Checked: Aug 12 at 11:06AM
MLS# 50186294
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Retail space offering approximately 6,000 SF total, with 4,500 SF already leased and 1,800 SF available. The property includes a highly desirable drive-up window and offers a parking lot for customer and employee access.
Built in 1998, the building is served by forced air heating and central air cooling. Water is provided by public service, and the roof is metal.
Set on a 0.92-acre site, this property is positioned for retail tenants seeking convenient on-site customer service features such as a drive-up window and practical parking.
Built in 1998, the building is served by forced air heating and central air cooling. Water is provided by public service, and the roof is metal.
Set on a 0.92-acre site, this property is positioned for retail tenants seeking convenient on-site customer service features such as a drive-up window and practical parking.
Key Highlights
- Approximately 6,000 SF total retail space
- 4,500 SF currently leased; 1,800 SF available
- Drive‑up window
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
$41,378
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
4.62%
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%
$827,560
$827.6K
Cap Rate 7%
$591,114
$591.1K
Cap Rate 9%
$459,756
$459.8K
Market Conditions
NOI Build-Up for 6,000 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
$72.0K $12.00/SF
− Vacancy
−$12.9K −$2.15/SF
EGI
$59.1K $9.85/SF
− OpEx
−$17.7K −$2.96/SF
NOI
$41.4K $6.90/SF
Area
Midland County, MI
Vacancy
17.90%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
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%
$827,560
Cap Rate 7%
$591,114
Cap Rate 9%
$459,756
Alternative Uses
Best Use
Retail
$591.1K
$517.2K – $689.6K
NOI $41,378 @ 7.0% cap · market cap 4.62%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$1.08M
$947.6K – $1.26M
NOI $75,807 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,018
Businesses Nearby
98k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 51%
Dining 22%
Groceries 20%
Apparel 8%
Speedway
Shops & Services
22,456 visits/mo
0.1 miles
Taco Bell
Dining
21,139 visits/mo
0.4 miles
Family Fare
Groceries
19,250 visits/mo
0.5 miles
Jo-Ann Fabric and Craft
Shops & Services
12,546 visits/mo
0.5 miles
The UPS Store
Shops & Services
8,278 visits/mo
0.5 miles
Demographics for 48640, MI
31,840
Population
14,340
Households
2.2
Avg Household Size
41
Median Age
38%
College-Educated
96%
High-School Grad
105.1 sq mi
ZIP Area
303
Density / Sq Mi
$81,630
Median Household Income
$43,353
Median Earnings
$928
Median Rent
$191,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Retail space with a drive-up window, central air, forced-air heat, and a parking lot on a 0.92-acre site.
Where is this retail space located?
The property is located at 2706 N Saginaw Road Midland, MI.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Approximately 6,000 SF total retail space; 4,500 SF currently leased; 1,800 SF available; Drive‑up window
