Renovated Office
New
For Sale
$199,900
4058 State St, Saginaw, MI 48603
B-1-zoned office property with updated finishes, accessibility features, and on-site parking.
Property Size2,184 SF
Lot Size0.34 Acres
Price / SF$91.53
Days on Market6
Property Features for 4058 State St
General Information
Standard status
Active
Size
2,184 SF
Total Parking Spaces
18
Lot size
0.34 Acres
Property subtype
Office
Zoning
B-1
Additional Details
Road Access
Yes
Amenities
handicapped accessible
Building Details
Building Size
2,184 SF
Year Built
1935
Year Renovated
2026
Buildings
1
Stories
2
Listing Agency:
The Miller Group of Saginaw Inc.
(989) 790-2611
Listed By:
Bob Morford
(989) 790-2611
Source:
Cpix.resimplifi
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 9 at 4:34AM
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 The Miller Group of Saginaw Inc.
Investment Insights
Based on property information with market context.
This office building contains 2,184 square feet on a .34-acre parcel and was originally built in 1935. Renovation work completed in 2026 included replacement windows, new flooring, and fresh interior and exterior paint. The property is handicapped accessible and includes on-site parking, supporting a range of client-facing office configurations.
The building is positioned for exposure from both State Street and Davenport Avenue along a busy commercial corridor in Saginaw Township. Surrounding uses include established retail businesses, restaurants, and professional services. B-1 zoning supports office and retail applications identified for the property.
The building is positioned for exposure from both State Street and Davenport Avenue along a busy commercial corridor in Saginaw Township. Surrounding uses include established retail businesses, restaurants, and professional services. B-1 zoning supports office and retail applications identified for the property.
Key Highlights
- 2,184‑square‑foot office building on a .34‑acre parcel
- 2026 renovation included new windows, flooring, and paint
- B‑1 zoning supports office and retail uses
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
$16,267
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
8.14%
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%
$325,340
$325.3K
Cap Rate 7%
$232,386
$232.4K
Cap Rate 9%
$180,744
$180.7K
Market Conditions
NOI Build-Up for 2,184 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
$28.3K $12.96/SF
− Vacancy
−$5.1K −$2.32/SF
EGI
$23.2K $10.64/SF
− OpEx
−$7.0K −$3.19/SF
NOI
$16.3K $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%
$325,340
Cap Rate 7%
$232,386
Cap Rate 9%
$180,744
Alternative Uses
Best Use
Office B
$305.4K
$267.2K – $356.3K
NOI $21,376 @ 7.0% cap · market cap 10.69%
Second Best
Retail
$232.4K
$203.3K – $271.1K
NOI $16,267 @ 7.0% cap · market cap 8.14%
Theoretical Best
Specialty Retail
$403.5K
$353.1K – $470.8K
NOI $28,246 @ 7.0% cap · market cap 14.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
340
Businesses Nearby
Explore this area
Business Placement
Demographics for 48603, MI
27,492
Population
13,367
Households
2.1
Avg Household Size
43
Median Age
37%
College-Educated
94%
High-School Grad
18.2 sq mi
ZIP Area
1,511
Density / Sq Mi
$65,690
Median Household Income
$41,661
Median Earnings
$1,019
Median Rent
$181,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - B-1-zoned office property with updated finishes, accessibility features, and on-site parking.
Where is this office building located?
The property is located at 4058 State St Saginaw, 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: 2,184‑square‑foot office building on a .34‑acre parcel; 2026 renovation included new windows, flooring, and paint; B‑1 zoning supports office and retail uses
