Freestanding Bank Building with
New
For Sale
$1,200,000
5510 W Saginaw Highway, Lansing, MI 48917
A separate four-lane drive-through supports the building’s existing commercial layout.
Property Size4,258 SF
Lot Size0.85 Acres
Price / SF$281.82
Days on Market3
Property Features for 5510 W Saginaw Highway
General Information
Standard status
Active
Size
4,258 SF
Lot size
0.85 Acres
Property subtype
Commercial
Zoning
C
Site & Location
Drive-Thru
Yes
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$21,600
Building Details
Building Size
4,258 SF
Year Built
1969
Buildings
1
Stories
1
Units
1
Listing Agency:
NAI Wisinski of West Michigan
(269) 353-0311
Listed By:
Jodi K Milks · License #6506044331
(269) 207-1040
Source:
Homeflexrealty
Added: Oct 26
Changed: Oct 27
Last Checked: Oct 27 at 3:56AM
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 NAI Wisinski of West Michigan
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1969, this freestanding former bank contains 4,258 square feet, with an additional 1,500-square-foot drive-through arranged across four lanes. The property occupies 0.851 acres and is zoned C Commercial in Delta Charter Township.
The site is on Saginaw Highway within the Lansing Mall retail corridor, among national retailers, restaurants, entertainment venues, and service providers. Availability is scheduled for September 2026.
The site is on Saginaw Highway within the Lansing Mall retail corridor, among national retailers, restaurants, entertainment venues, and service providers. Availability is scheduled for September 2026.
Key Highlights
- 4,258 SF freestanding former bank building
- Additional 1,500 SF drive‑through with four lanes
- 0.851‑acre site zoned C Commercial in Delta Charter Township
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,527
Cap Rate
3.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$910,540
$910.5K
Cap Rate 7%
$650,386
$650.4K
Cap Rate 9%
$505,856
$505.9K
Market Conditions
NOI Build-Up for 4,258 SF
Gross rent
$69.0K $16.20/SF
− Vacancy
−$8.3K −$1.94/SF
EGI
$60.7K $14.26/SF
− OpEx
−$15.2K −$3.56/SF
NOI
$45.5K $10.69/SF
Area
Lansing, MI
Vacancy
12.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$910,540
Cap Rate 7%
$650,386
Cap Rate 9%
$505,856
Alternative Uses
Best Use
Specialty Retail
$650.4K
$569.1K – $758.8K
NOI $45,527 @ 7.0% cap · market cap 3.79%
Second Best
Retail
$550.6K
$481.7K – $642.3K
NOI $38,539 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$876.5K
$766.9K – $1.02M
NOI $61,353 @ 7.0% cap · market cap 5.11%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
672
Businesses Nearby
Explore this area
Business Placement
Demographics for 48917, MI
32,679
Population
15,975
Households
2
Avg Household Size
41
Median Age
40%
College-Educated
94%
High-School Grad
24.0 sq mi
ZIP Area
1,362
Density / Sq Mi
$73,259
Median Household Income
$47,739
Median Earnings
$1,085
Median Rent
$211,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Frequently Asked Questions
What type of property is this?
Bank - A separate four-lane drive-through supports the building’s existing commercial layout.
Where is this bank located?
The property is located at 5510 W Saginaw Highway Lansing, MI.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 4,258 SF freestanding former bank building; Additional 1,500 SF drive‑through with four lanes; 0.851‑acre site zoned C Commercial in Delta Charter Township
