Spa & Wellness Property with Reception
For Sale
$100,000
3240 Sheridan Avenue, Saginaw, MI 48601
Former beauty shop includes basement space for a barber shop or other small business use.
Property Size1,058 SF
Days on Market27
Property Features for 3240 Sheridan Avenue
General Information
Standard status
Active
Size
1,058 SF
Property subtype
Commercial
Zoning
Commercial
Building Details
Building Size
1,058 SF
Year Built
1963
Listing Agency:
Keller Williams Preferred
(989) 798-6803
Listed By:
Geri Doxie · License #SBR-6501285054
Source:
Buyatthelake
Added: Jul 30
Changed: Aug 23
Last Checked: Aug 24 at 3:13PM
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 Keller Williams Preferred
Investment Insights
Based on property information with market context.
This spa and wellness property at 3240 Sheridan Ave includes a reception area and a basement offering additional commercial space. The property has been used as a beauty shop for many years, providing an established layout for a similar business or another small operation. The basement is described as suitable for use as a barber shop or other small business space.
Beauty equipment is not included in the sale, allowing a purchaser to plan the interior setup around its intended use. The property is located in Saginaw, Michigan, with the address situated on Sheridan Ave.
Beauty equipment is not included in the sale, allowing a purchaser to plan the interior setup around its intended use. The property is located in Saginaw, Michigan, with the address situated on Sheridan Ave.
Key Highlights
- Reception area included
- Basement offers additional space for a barber shop or other small business
- Used as a beauty shop for many years
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
$7,880
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
7.88%
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%
$157,600
$157.6K
Cap Rate 7%
$112,571
$112.6K
Cap Rate 9%
$87,556
$87.6K
Market Conditions
NOI Build-Up for 1,058 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
$13.7K $12.96/SF
− Vacancy
−$2.5K −$2.32/SF
EGI
$11.3K $10.64/SF
− OpEx
−$3.4K −$3.19/SF
NOI
$7.9K $7.45/SF
Area
Saginaw County, MI
Vacancy
17.90%
Lease Rate
$12.96 /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%
$157,600
Cap Rate 7%
$112,571
Cap Rate 9%
$87,556
Alternative Uses
Best Use
Retail
$112.6K
$98.5K – $131.3K
NOI $7,880 @ 7.0% cap · market cap 7.88%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$195.5K
$171.0K – $228.1K
NOI $13,683 @ 7.0% cap · market cap 13.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
84
Businesses Nearby
14k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Marathon Petroleum
Shops & Services
7,189 visits/mo
0.4 miles
Dollar General
Shops & Services
3,915 visits/mo
0.1 miles
Family Dollar
Shops & Services
2,617 visits/mo
0.0 miles
Demographics for 48601, MI
32,165
Population
16,220
Households
2
Avg Household Size
39
Median Age
8%
College-Educated
86%
High-School Grad
104.3 sq mi
ZIP Area
308
Density / Sq Mi
$37,830
Median Household Income
$27,218
Median Earnings
$836
Median Rent
$54,900
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.
Similar Off Market Nearby
- The OUI-D Shop — 3465 Sheridan Ave, Saginaw, MI 48601
Frequently Asked Questions
What type of property is this?
Spa & wellness property - Former beauty shop includes basement space for a barber shop or other small business use.
Where is this spa & wellness property located?
The property is located at 3240 Sheridan Avenue Saginaw, MI.
What is the asking price?
The asking price for this property is $100,000.
What are key features of this property?
This property features: Reception area included; Basement offers additional space for a barber shop or other small business; Used as a beauty shop for many years
