Mixed-Use Building with Retail and
45 N Saginaw Street Pontiac, MI 48342
45 N Saginaw Street, Pontiac, MI, 48342
$349,000
For Sale
$349,000
Mixed-use property with a gutted first floor, basement space, and two upper apartments under BI zoning.
Property Size7,350 SF
Price / SF$47.48
Days on Market110
Property Features for 45 N Saginaw Street
General Information
- Standard status
- Active
- Size
- 7,350 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1920
Listing agency
Sky Property Group LLC
(248) 221-0591
Listed by
Austin Yatooma · License #446739
Source
Xome
Added: Apr 4 Updated: Jul 21 at 6:05PM Checked: Jul 22 at 3:34AM
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 Sky Property Group LLC
Investment Insights
Based on property information with market context.
Located at 45 N Saginaw Street in Pontiac, this mixed-use building combines approximately 2,450 square feet of first-floor commercial space with a full 2,450 square foot basement and an additional 2,450 square foot upper level. The first floor has been fully gutted, creating a blank slate for repositioning and future lease-up. The upper level includes two apartments, and Unit 1 is currently leased at $850 per month.
The property is zoned BI – Business Intensive, which supports a wide range of commercial and mixed-use activities, including retail, office, mixed-use residential, restaurants, and service businesses. This flexibility, together with the existing income from Unit 1 and the substantial basement and commercial-area footprint, offers a value-add setup for buyers seeking to reposition the ground floor.
The property is zoned BI – Business Intensive, which supports a wide range of commercial and mixed-use activities, including retail, office, mixed-use residential, restaurants, and service businesses. This flexibility, together with the existing income from Unit 1 and the substantial basement and commercial-area footprint, offers a value-add setup for buyers seeking to reposition the ground floor.
Key Highlights
- Mixed‑use building built in 1920 with downtown Pontiac positioning
- Approximately 2,450 sq ft of first‑floor commercial space with high ceilings; first floor has been fully gutted
- Full 2,450 sq ft basement for storage or future expansion
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $44.1k | $6.00 |
| − Vacancy | −$10.4k | −$1.41 |
| EGI | $33.7k | $4.59 |
| − OpEx | −$8.4k | −$1.15 |
| NOI | $25.3k | $3.44 |
7,350 SF · lease $6.00/SF/yr · vacancy 23.50% · expense 25.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.39M
$1.22M – $1.62M
NOI $97,287 @ 7.0% cap · market cap 27.88%
Second Best
Apartment 5plus
$1.29M
$1.13M – $1.50M
NOI $90,157 @ 7.0% cap · market cap 25.83%
Theoretical Best
Specialty Retail
$1.59M
$1.39M – $1.85M
NOI $110,973 @ 7.0% cap · market cap 31.80%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Safe Harbor
Clothing Store
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Mixed-use property with a gutted first floor, basement space, and two upper apartments under BI zoning.
Where is this mixed-use property located?
The property is located at 45 N Saginaw Street Pontiac, MI.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Mixed‑use building built in 1920 with downtown Pontiac positioning; Approximately 2,450 sq ft of first‑floor commercial space with high ceilings; first floor has been fully gutted; Full 2,450 sq ft basement for storage or future expansion
