Custom Designed Medical Office
For Sale
Contact for pricing
Pending
4884 Berl Dr, Saginaw, MI 48604
Custom-designed medical office building with conversion potential in Kochville Township.
Property Size4,618 SF
Lot Size0.80 Acres
Days on Market165
Property Features for 4884 Berl Dr
General Information
Standard status
Pending
Size
4,618 SF
Class
B
Lot size
0.80 Acres
Property subtype
Office
Building Details
Year Built
1991
Listing Agency:
Trademark Commercial Group
(989) 792-2192
Listed By:
Gretchen Witherspoon · License #MI 6501316390
Source:
Crexi
Added: Mar 9
Changed: Aug 8
Last Checked: Aug 4 at 10:45AM
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 Trademark Commercial Group
Investment Insights
Based on property information with market context.
Located in Kochville Township, this architecturally attractive office building on Berl Drive offers convenient access to I-675 and Tittabawassee Rd. Originally custom-designed and built as a medical facility in 1991, the property features a 4,618 square foot first floor. The layout includes three closed-door exam rooms, three general offices, and two lab areas, one of which was formerly a garage. A large open space in the center of the building could be converted into two additional rooms. The first floor also includes a spacious billing and reception area, as well as a generous waiting area. Additionally, there is a 1,580 square foot basement with front and rear access. Situated on approximately 0.801 acres with B-4 Zoning, the property has at least 30 parking spaces located around the side and back of the building, with underground detention for storm water under the parking lot. A monument sign provides visibility. While previously used as a medical office, the building could be converted to general office use. The 2025 winter taxes are $3,555.02, and the 2025 summer taxes are $8,378.70. The price reflects some deferred maintenance for the buyer to improve under their specifications. The property is near retail and other office users.
Key Highlights
- Custom‑designed medical office building with attractive architecture and convenient access to I‑675 and Tittabawassee Rd.
- Spacious 4,618 SF first floor featuring multiple exam rooms, offices, lab areas, and a large open space.
- B‑4 Zoning allows for flexible use, including potential conversion to general office space.
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
$45,199
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
7.60%
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%
$903,980
$904.0K
Cap Rate 7%
$645,700
$645.7K
Cap Rate 9%
$502,211
$502.2K
Market Conditions
NOI Build-Up for 4,618 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
$69.3K $15.00/SF
− Vacancy
−$9.0K −$1.95/SF
EGI
$60.3K $13.05/SF
− OpEx
−$15.1K −$3.26/SF
NOI
$45.2K $9.79/SF
Area
Saginaw County, MI
Vacancy
13.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
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%
$903,980
Cap Rate 7%
$645,700
Cap Rate 9%
$502,211
Alternative Uses
Best Use
Office B
$645.7K
$565.0K – $753.3K
NOI $45,199 @ 7.0% cap · market cap 7.60%
Second Best
Healthcare Medical
$499.3K
$436.9K – $582.5K
NOI $34,952 @ 7.0% cap · market cap 5.87%
Theoretical Best
Specialty Retail
$853.2K
$746.6K – $995.4K
NOI $59,725 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,240
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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 Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Custom-designed medical office building with conversion potential in Kochville Township.
Where is this medical office space located?
The property is located at 4884 Berl Dr Saginaw, MI.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Custom‑designed medical office building with attractive architecture and convenient access to I‑675 and Tittabawassee Rd.; Spacious 4,618 SF first floor featuring multiple exam rooms, offices, lab areas, and a large open space.; B‑4 Zoning allows for flexible use, including potential conversion to general office space.
