High-Traffic Gerber Collision
For Sale
Contact for pricing
3588 Tittabawassee Road, Saginaw, MI 48604
New construction NNN lease with rental increases and options.
Property Size16,500 SF
Lot Size3.38 Acres
Price / SF$240.55
Days on Market100
Property Features for 3588 Tittabawassee Road
General Information
Standard status
Active
Size
16,500 SF
Class
A
Total Parking Spaces
51
Lot size
3.38 Acres
Property subtype
Retail
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$232,185
Building Details
Year Built
2026
Tenancy
Single
Listing Agency:
Cushman & Wakefield - Sacramento, California
Listed By:
Michael Yuras · License #CA 01823291
Source:
Crexi
Added: May 14
Changed: Aug 11
Last Checked: Aug 21 at 2:22PM
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 Cushman & Wakefield - Sacramento, California
Investment Insights
Based on property information with market context.
This property is leased to Gerber Collision & Glass, one of the largest auto collision and glass repair companies in North America, with over 850 locations. The property features a new 15-year absolute NNN corporate lease with 10% rental increases every five years in the initial term and four option periods of five years each. The tenant covers all taxes, insurance, and maintenance, including roof, structure, and parking lot. The property is located along Tittabawassee Road, with a traffic count of 30,560 AADT. It offers high visibility from Interstate 675 and is surrounded by traffic drivers, including Walmart Supercenter, Sam's Club, Target, Lowe's, The Home Depot, and Best Buy. The property is also in close proximity to Saginaw Valley State University and several schools. The new construction, slated for 2026, features Gerber Collision & Glass' latest prototype building on a 3.38-acre parcel with ample parking and easy ingress/egress. The property is located within a five-mile radius of 79,733 residents and has an average annual household income of $133,130 within one mile.
Key Highlights
- New 15‑year absolute NNN corporate lease with Gerber Collision & Glass
- Tenant covers all taxes, insurance, and maintenance for a fully passive investment
- Located on highly trafficked Tittabawassee Road (30,560 AADT) with high visibility from Interstate 675
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
$122,894
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
3.10%
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%
$2,457,880
$2.5M
Cap Rate 7%
$1,755,629
$1.8M
Cap Rate 9%
$1,365,489
$1.4M
Market Conditions
NOI Build-Up for 16,500 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
$213.8K $12.96/SF
− Vacancy
−$38.3K −$2.32/SF
EGI
$175.6K $10.64/SF
− OpEx
−$52.7K −$3.19/SF
NOI
$122.9K $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%
$2,457,880
Cap Rate 7%
$1,755,629
Cap Rate 9%
$1,365,489
Alternative Uses
Best Use
Retail
$1.76M
$1.54M – $2.05M
NOI $122,894 @ 7.0% cap · market cap 3.10%
Second Best
Industrial
$1.23M
$1.08M – $1.43M
NOI $86,036 @ 7.0% cap · market cap 2.17%
Theoretical Best
Specialty Retail
$3.05M
$2.67M – $3.56M
NOI $213,395 @ 7.0% cap · market cap 5.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
294
Businesses Nearby
564k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 46%
Shops & Services 28%
Groceries 20%
Home Improvements & Furnishings 4%
Meijer
Groceries
112,304 visits/mo
0.3 miles
T.J. Maxx
Apparel
66,912 visits/mo
0.1 miles
Kohl's
Apparel
64,671 visits/mo
0.4 miles
Five Below
Shops & Services
59,713 visits/mo
0.1 miles
DICK'S Sporting Goods
Apparel
48,346 visits/mo
0.3 miles
Demographics for 48604, MI
12,386
Population
4,603
Households
2.7
Avg Household Size
29
Median Age
24%
College-Educated
95%
High-School Grad
26.3 sq mi
ZIP Area
471
Density / Sq Mi
$53,804
Median Household Income
$18,887
Median Earnings
$928
Median Rent
$93,200
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?
Auto shop - New construction NNN lease with rental increases and options.
Where is this auto shop located?
The property is located at 3588 Tittabawassee Road Saginaw, MI.
What is the asking price?
The asking price for this property is $3,969,000.
What are key features of this property?
This property features: New 15‑year absolute NNN corporate lease with Gerber Collision & Glass; Tenant covers all taxes, insurance, and maintenance for a fully passive investment; Located on highly trafficked Tittabawassee Road (30,560 AADT) with high visibility from Interstate 675
