Redevelopment Warehouse
5495 State St, Saginaw, MI 48603
For Sale
$540,000
Pending
Redevelopment opportunity totaling 1.68 acres with existing buildings across two parcels.
Property Size3,855 SF
Days on Market445
Property Features for 5495 State St
General Information
Standard status
Size
Property subtype
Listing Agency:
Wilson Realty
Listed By:
Nathon Wilson · License MI #6506042802
(989) 737-3411
Source:
Vmrealestatemichigan
Added: Aug 23, 2025
Changed: Nov 1
Last Checked: Nov 8 at 7:06AM
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 Wilson Realty
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Investment Insights
Based on property information with market context.
This redevelopment warehouse site totals 1.68 acres and includes two parcels, identified as 23-12-4-20-1016-000 and 23-12-4-20-1015-000. The listing includes existing buildings on both parcels, offering a groundwork option for buyers looking to re-purpose the property.
The property is located at 5495 State St in Saginaw Charter Township, MI 48603. WalkScore is 59 (Somewhat Walkable) and BikeScore is 52 (Bikeable), supporting basic access by non-vehicular means.
The property is located at 5495 State St in Saginaw Charter Township, MI 48603. WalkScore is 59 (Somewhat Walkable) and BikeScore is 52 (Bikeable), supporting basic access by non-vehicular means.
Key Highlights
- 1.68‑acre redevelopment site with existing buildings on two parcels
- Includes 2 parcels: 23‑12‑4‑20‑1016‑000 and 23‑12‑4‑20‑1015‑000
- BikeScore 52 (bikeable) and walkScore 59 (somewhat walkable)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,424
Cap Rate
4.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$528,480
$528.5K
Cap Rate 7%
$377,486
$377.5K
Cap Rate 9%
$293,600
$293.6K
Market Conditions
NOI Build-Up for 3,855 SF
Gross rent
$32.4K $8.40/SF
− Vacancy
−$1.3K −$0.34/SF
EGI
$31.1K $8.06/SF
− OpEx
−$4.7K −$1.21/SF
NOI
$26.4K $6.85/SF
Area
Saginaw County, MI
Vacancy
4.00%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$528,480
Cap Rate 7%
$377,486
Cap Rate 9%
$293,600
Alternative Uses
Best Use
Warehouse
$377.5K
$330.3K – $440.4K
NOI $26,424 @ 7.0% cap · market cap 4.89%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$712.2K
$623.2K – $831.0K
NOI $49,857 @ 7.0% cap · market cap 9.23%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
483
Businesses Nearby
Under-served
Demand for This Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Warehouses in Saginaw
Vacancy Rate% for Industrial in Midwest region
Similar Off Market Nearby
- Handy Self-Serve Storage — 6105 State St, Saginaw, MI 48603
Frequently Asked Questions
What type of property is this?
Warehouse - Redevelopment opportunity totaling 1.68 acres with existing buildings across two parcels.
Where is this warehouse located?
The property is located at 5495 State St Saginaw, MI.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: 1.68‑acre redevelopment site with existing buildings on two parcels; Includes 2 parcels: 23‑12‑4‑20‑1016‑000 and 23‑12‑4‑20‑1015‑000; BikeScore 52 (bikeable) and walkScore 59 (somewhat walkable)
