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    Multi-Office Commercial Building Title is generated by Realmo AI

    3167 Enterprise Drive, Saginaw, MI 48603

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    For Sale
    $299,000

    COMMERCIAL - Saginaw, MI

    Property size:
    5,896 SF
    Lot size:
    0.67 Acres
    Price / SF:
    $50/SF
    Added:
    Apr 13, 2026
    Days on Market:
    52
    Last Refresh:
    Jun 3 at 7:06 pm

    Property Features for 3167 Enterprise Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Rooms
    Basement
    Parking features
    Parking Lot
    Security features
    Security Lighting
    Exterior features
    Security Lighting
    Standard status
    Active
    APN
    23-12-4-10-4413-000
    Size
    5,896 SF
    Lot size
    0.67 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    7640

    Utilities

    Heating system
    Zoned, Forced Air
    Cooling system
    Humidity Control, Central Air
    Water source
    Public

    Building Details

    Year built
    1976
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Connie Reppuhn

    Listing agent Connie Reppuhn License #6501253246

    Listing office Century 21 Signature Realty 5580 State Street Suite 4, Saginaw, MI

    Listing date Apr 13, 2026

    MLS# 50204138

    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.

    HighLights

    • Commercial building built in 1976, located on Enterprise Drive right off Bay Road (building only).
    • Tenant occupies on a triple net lease; owner pays building taxes; current lease term is 2 years with extension possible.
    • Heating includes zoned forced air; cooling features central air with humidity control.
    • Interior space includes multiple office spaces, multiple meeting rooms, several restrooms, and a kitchen area for employees.
    • Parking lot on‑site; exterior security lighting.
    • Includes a 34' x 40' garage area and a 600 SF basement for storage and building mechanicals.

    Overview

    This well-maintained commercial building offers a multi-office configuration with multiple office spaces, meeting rooms, several restrooms, and an employee kitchen area. The property also includes a 34 by 40 garage area, along with a 600-square-foot basement for storage and mechanicals. The building is described as having a grand entrance and amenities suitable for office use.

    The property is located in Saginaw Township on Enterprise Drive, right off Bay Road. It is being sold as a building only, and the current tenant arrangement is described as a triple net lease with the tenant in place.

    For buyers looking for a managed, occupied office asset, the current lease is stated to run for two years with an extension possible. The seller notes that the owner pays the building taxes. This setup may appeal to investors or owner-operators seeking a turnkey office building with a defined in-place use, supported by on-site meeting and restroom facilities, plus additional garage and storage space for building operations. For showings, please use ShowingTime or contact the agent.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial Control Systems ... Electrical Service

    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
    Saginaw
    County
    Saginaw
    State
    Michigan
    Longitude
    -83.978883
    Latitude
    43.456898

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    FAQs

    What type of property is this?
    Office building - Well-maintained office building with multiple workspaces, meeting rooms, restrooms, and employee kitchen, plus garage and storage.
    Where is this office building located?
    The property is located at 3167 Enterprise Drive Saginaw, MI.
    What is the asking price?
    The asking price for this property is $299,000.
    What are key features of this property?
    This property features: Commercial building built in 1976, located on Enterprise Drive right off Bay Road (building only).; Tenant occupies on a triple net lease; owner pays building taxes; current lease term is 2 years with extension possible.; Heating includes zoned forced air; cooling features central air with humidity control.
    (989) 239-2895
    We can help!
    Listing Contact
    Connie Reppuhn
    Real Estate License ID: 6501253246
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    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
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