Storefront Property with Private
New
For Sale
$310,000
525 N Saginaw Street, Lapeer, MI 48446
Corner-lot commercial building with rear loading access and two restrooms.
Property Size32 SF
Price / SF$103.33
Days on Market7
Property Features for 525 N Saginaw Street
General Information
Standard status
Active
Size
32 SF
Total Parking Spaces
11
Property subtype
Commercial
Additional Details
Corner Location
Yes
Taxes and HOA fees
Annual Taxes
$4,160
Amenities
private parking lot
rear loading area
two restrooms
Building Details
Building Size
32 SF
Year Built
1940
Buildings
1
Units
1
Listing Agency:
Keller Williams Paint Creek
(248) 506-4158
Listed By:
Justice Johnson
(248) 506-4158
Source:
Eliterealtymi
Added: Aug 24
Changed: Aug 30
Last Checked: Aug 30 at 11:58AM
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 Keller Williams Paint Creek
Investment Insights
Based on property information with market context.
Built in 1940, this 3,000-square-foot storefront property occupies a corner lot in Downtown Lapeer. The building offers an adaptable interior arrangement, two restrooms, and a private parking lot with 11 spaces. A shared driveway leads to a rear loading area, supporting deliveries and day-to-day property access.
Positioned at 525 N Saginaw Street in Lapeer, Michigan, the property combines a storefront setting with dedicated parking and rear loading functionality. Its flexible layout provides a range of configuration possibilities within the existing commercial building, while the corner placement establishes a prominent physical position in the downtown area.
Positioned at 525 N Saginaw Street in Lapeer, Michigan, the property combines a storefront setting with dedicated parking and rear loading functionality. Its flexible layout provides a range of configuration possibilities within the existing commercial building, while the corner placement establishes a prominent physical position in the downtown area.
Key Highlights
- 3,000‑square‑foot storefront building on a corner lot
- Private parking lot with 11 spaces
- Shared driveway provides access to a rear loading area
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
$20,689
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
6.67%
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%
$413,780
$413.8K
Cap Rate 7%
$295,557
$295.6K
Cap Rate 9%
$229,878
$229.9K
Market Conditions
NOI Build-Up for 3,000 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
$36.0K $12.00/SF
− Vacancy
−$6.4K −$2.15/SF
EGI
$29.6K $9.85/SF
− OpEx
−$8.9K −$2.96/SF
NOI
$20.7K $6.90/SF
Area
Lapeer County, MI
Vacancy
17.90%
Lease Rate
$12.00 /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%
$413,780
Cap Rate 7%
$295,557
Cap Rate 9%
$229,878
Alternative Uses
Best Use
Retail
$295.6K
$258.6K – $344.8K
NOI $20,689 @ 7.0% cap · market cap 6.67%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$491.3K
$429.9K – $573.2K
NOI $34,389 @ 7.0% cap · market cap 11.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
372
Businesses Nearby
33k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 72%
Home Improvements & Furnishings 28%
Sunoco
Shops & Services
10,684 visits/mo
0.4 miles
Harbor Freight Tools
Home Improvements & Furnishings
8,554 visits/mo
0.5 miles
Dollar General
Shops & Services
7,139 visits/mo
0.5 miles
Advance Auto Parts
Shops & Services
2,970 visits/mo
0.5 miles
Milnes Ford, Inc
Shops & Services
2,208 visits/mo
0.5 miles
Demographics for 48446, MI
30,788
Population
12,797
Households
2.4
Avg Household Size
45
Median Age
20%
College-Educated
93%
High-School Grad
121.9 sq mi
ZIP Area
253
Density / Sq Mi
$66,382
Median Household Income
$40,263
Median Earnings
$976
Median Rent
$206,300
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?
Storefront property - Corner-lot commercial building with rear loading access and two restrooms.
Where is this storefront property located?
The property is located at 525 N Saginaw Street Lapeer, MI.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: 3,000‑square‑foot storefront building on a corner lot; Private parking lot with 11 spaces; Shared driveway provides access to a rear loading area
