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    Garage/Studio Conversion Opportunity Title is generated by Realmo AI

    3953 Saginaw, National City, MI 48748

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    Claim this Listing
    New
    For Sale
    $95,000

    Other - National City, MI

    Property size:
    725 SF
    Lot size:
    0.12 Acres
    Price / SF:
    $131/SF
    Added:
    May 29, 2026
    Days on Market:
    2
    Last Refresh:
    May 30 at 6:06 pm

    Property Features for 3953 Saginaw

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Residential,Commercial
    Bathrooms
    1
    Rooms
    Basement, Bathroom 1
    Basement Y/N
    1
    Standard status
    Active
    Size
    725 SF
    Lot size
    0.12 Acres

    Utilities

    Heating system
    Forced Air

    Building Details

    Year built
    1978
    Building materials
    Block
    Roof type
    Asphalt, Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    ANGIE JONES

    Listing agent ANGIE JONES

    Listing office CENTURY 21 SIGNATURE REALTY 201 E BAY, EAST TAWAS, MI

    Listing date May 29, 2026

    MLS# 1945909 Listing URL

    Copyright © 2026 Northern Great Lakes Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Garage/workshop with three garage doors, ideal for storing boats, RVs, or multiple vehicles.
    • Conversion potential into a studio apartment or small single‑family residence (subject to local approvals).
    • Equipped with plumbing, heat, and electrical service, providing a solid foundation for conversion.
    • Located in the desirable Sand Lake area, close to lake access and recreational amenities.
    • Proximity to Huron National Forest, offering year‑round opportunities for boating, ORV riding, hiking, and wildlife enjoyment.
    • Durable construction with block construction materials and a combination asphalt/metal roof.

    Overview

    Located in the Sand Lake area, this 725-square-foot structure presents a versatile opportunity for use as a garage or studio, with potential for future residential conversion. Currently configured as a garage and workshop, it features three garage doors that facilitate easy access and storage of boats, recreational vehicles, trailers, and other equipment. The layout is suitable for a workshop, hobby space, or storage. The building is equipped with plumbing, heat, and electrical service, providing a foundation for conversion into a studio apartment or small single-family residence, subject to local approvals. The property is situated close to lake access and recreational amenities, appealing to outdoor enthusiasts. The surrounding region offers access to lakes, hunting, fishing, and extensive trail systems. It is near the Sand Lake region and within reach of the Huron National Forest, providing year-round opportunities for boating, ORV riding, hiking, and wildlife enjoyment. The property, situated on a 0.12-acre lot, offers a blend of utility and potential for those seeking a functional storage or workspace with long-term conversion possibilities in a recreational setting. The zoning is Residential and Commercial.
    Property Profile Location Intelligence

    Current Use by Public Records

    Specialty properties

    Suggested Use

    Restaurant Building Supply Auto Repair Shop Hotel & Motel Gym & Fitness Center Bar & Pub Electrical Service Pet Grooming Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    National City
    County
    Iosco
    State
    Michigan
    Longitude
    -83.681392
    Latitude
    44.319329

    FAQs

    What type of property is this?
    Specialty property - Versatile garage with conversion potential in Sand Lake area.
    Where is this specialty property located?
    The property is located at 3953 Saginaw National City, MI.
    What is the asking price?
    The asking price for this property is $95,000.
    What are key features of this property?
    This property features: Garage/workshop with **three garage doors**, ideal for storing boats, RVs, or multiple vehicles.; Conversion potential into a studio apartment or small single‑family residence (subject to local approvals).; Equipped with plumbing, heat, and electrical service, providing a solid foundation for conversion.
    (989) 254-2523
    We can help!
    Listing Contact
    ANGIE JONES
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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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