Commercial Land with Existing
For Sale
$199,900
358 W Saginaw Road, Sanford, MI 48657
Existing improvements, visible signage, and on-site parking support commercial redevelopment.
Property Size1,562 SF
Days on Market245
Property Features for 358 W Saginaw Road
General Information
Standard status
Active
Size
1,562 SF
Property subtype
Commercial
Building Details
Building Size
1,562 SF
Listing Agency:
Ayre Rhinehart Real Estate Partners
(989) 205-5781
Listed By:
Tyler Snyder · License #BCRA
(989) 205-5781
Source:
Mid-land
Added: Dec 29, 2025
Changed: Aug 30
Last Checked: Aug 30 at 11:11PM
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 Ayre Rhinehart Real Estate Partners
Investment Insights
Based on property information with market context.
This commercial land property includes an existing structure that may be modified or redeveloped, subject to local zoning ordinances and required approvals. The site also provides on-site parking, convenient access, and visible signage exposure along a well-traveled corridor.
Located at 358 W. Saginaw Road in Sanford, the property is minutes from Midland and surrounding communities. Nearby residential neighborhoods and essential services contribute to an established local setting. Potential applications identified for the site include retail, service, medical or professional office, quick-service, and specialty business uses, subject to applicable zoning and approvals.
Located at 358 W. Saginaw Road in Sanford, the property is minutes from Midland and surrounding communities. Nearby residential neighborhoods and essential services contribute to an established local setting. Potential applications identified for the site include retail, service, medical or professional office, quick-service, and specialty business uses, subject to applicable zoning and approvals.
Key Highlights
- 358 W. Saginaw Road, Sanford, MI 48657
- Existing structure may be modified or redeveloped
- On‑site parking included
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
$10,772
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
5.39%
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%
$215,440
$215.4K
Cap Rate 7%
$153,886
$153.9K
Cap Rate 9%
$119,689
$119.7K
Market Conditions
NOI Build-Up for 1,562 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
$18.7K $12.00/SF
− Vacancy
−$3.4K −$2.15/SF
EGI
$15.4K $9.85/SF
− OpEx
−$4.6K −$2.96/SF
NOI
$10.8K $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%
$215,440
Cap Rate 7%
$153,886
Cap Rate 9%
$119,689
Alternative Uses
Best Use
Retail
$153.9K
$134.7K – $179.5K
NOI $10,772 @ 7.0% cap · market cap 5.39%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$281.9K
$246.7K – $328.9K
NOI $19,735 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
103
Businesses Nearby
9k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 86%
Dining 14%
Marathon Petroleum
Shops & Services
4,623 visits/mo
0.3 miles
Huntington Bank
Shops & Services
3,011 visits/mo
0.3 miles
Hometown Pizza
Dining
1,258 visits/mo
0.4 miles
Demographics for 48657, MI
7,686
Population
3,460
Households
2.2
Avg Household Size
49
Median Age
26%
College-Educated
93%
High-School Grad
61.7 sq mi
ZIP Area
125
Density / Sq Mi
$74,964
Median Household Income
$46,607
Median Earnings
$948
Median Rent
$171,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Existing improvements, visible signage, and on-site parking support commercial redevelopment.
Where is this commercial land located?
The property is located at 358 W Saginaw Road Sanford, MI.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: 358 W. Saginaw Road, Sanford, MI 48657; Existing structure may be modified or redeveloped; On‑site parking included
