Automotive Retail
For Sale
$99,000
3003 W Saginaw St, Lansing, MI 48917
Freestanding commercial building with frontage and access along W Saginaw Highway for automotive retail operations.
Property Size942 SF
Price / SF$105.10
Days on Market137
Property Features for 3003 W Saginaw St
General Information
Standard status
Active
Size
942 SF
Property subtype
Retail
Zoning
G
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
942 SF
Buildings
1
Listing Agency:
NAI Mid-Michigan
(517) 281-5800
Listed By:
Jerome Abood
Source:
Cpix.resimplifi
Added: Apr 17
Changed: Aug 30
Last Checked: Aug 30 at 11:24PM
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 NAI Mid-Michigan
Investment Insights
Based on property information with market context.
This 942-square-foot commercial property is configured for automotive retail use and has been utilized as a used car sales facility. The building offers a compact footprint suited to an owner-user seeking an established automotive sales setting or a related commercial operation.
The property fronts W Saginaw Highway in Lansing, providing direct site access along an east-west arterial. Retail and service businesses surround the corridor, supporting an established commercial environment. Alternative redevelopment or use may be considered subject to applicable zoning approvals.
The property fronts W Saginaw Highway in Lansing, providing direct site access along an east-west arterial. Retail and service businesses surround the corridor, supporting an established commercial environment. Alternative redevelopment or use may be considered subject to applicable zoning approvals.
Key Highlights
- 942 SF building
- Automotive retail property used for used car sales
- Direct frontage and access from W Saginaw Highway
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
$8,526
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
8.61%
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%
$170,520
$170.5K
Cap Rate 7%
$121,800
$121.8K
Cap Rate 9%
$94,733
$94.7K
Market Conditions
NOI Build-Up for 942 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
$14.1K $15.00/SF
− Vacancy
−$1.9K −$2.07/SF
EGI
$12.2K $12.93/SF
− OpEx
−$3.7K −$3.88/SF
NOI
$8.5K $9.05/SF
Area
Lansing, MI
Vacancy
13.80%
Lease Rate
$15.00 /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%
$170,520
Cap Rate 7%
$121,800
Cap Rate 9%
$94,733
Alternative Uses
Best Use
Retail
$121.8K
$106.6K – $142.1K
NOI $8,526 @ 7.0% cap · market cap 8.61%
Second Best
Industrial
$87.4K
$76.5K – $102.0K
NOI $6,121 @ 7.0% cap · market cap 6.18%
Theoretical Best
Office A
$193.9K
$169.7K – $226.2K
NOI $13,573 @ 7.0% cap · market cap 13.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,099
Businesses Nearby
222k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 41%
Dining 33%
Apparel 15%
Home Improvements & Furnishings 8%
McDonald's
Dining
37,156 visits/mo
0.2 miles
Speedway
Shops & Services
34,353 visits/mo
0.2 miles
T.J. Maxx
Apparel
28,342 visits/mo
0.3 miles
Michaels
Shops & Services
26,837 visits/mo
0.3 miles
Blaze Pizza
Dining
18,480 visits/mo
0.4 miles
Demographics for 48917, MI
32,679
Population
15,975
Households
2
Avg Household Size
41
Median Age
40%
College-Educated
94%
High-School Grad
24.0 sq mi
ZIP Area
1,362
Density / Sq Mi
$73,259
Median Household Income
$47,739
Median Earnings
$1,085
Median Rent
$211,300
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- ATM (Speedway) — 1923 E Michigan Ave, Lansing, MI 48912
- Enterprise Rent-A-Car — 2311 E Michigan Ave, Lansing, MI 48912
- Budget Car Rental — 2601 E Michigan Ave, Lansing, MI 48912
- VAN Rental Lansing - CARNGO — 2320 e michigan ave, lansing, mi 48912
- Budget Truck Rental — 2601 E Michigan Ave, Lansing, MI 48912
Frequently Asked Questions
What type of property is this?
Automotive property - Freestanding commercial building with frontage and access along W Saginaw Highway for automotive retail operations.
Where is this automotive property located?
The property is located at 3003 W Saginaw St Lansing, MI.
What is the asking price?
The asking price for this property is $99,000.
What are key features of this property?
This property features: 942 SF building; Automotive retail property used for used car sales; Direct frontage and access from W Saginaw Highway
