Freestanding Office and
5510 W Saginaw Hwy Lansing, MI 48917
5510 W Saginaw Hwy, Lansing, MI, 48917
$1,200,000
For Sale
$1,200,000
Freestanding former bank building with drive-thru infrastructure, suited for professional, medical, retail, or service uses.
Property Size4,258 SF
Lot Size0.85 Acres
Price / SF$281.82
Days on Market50
Property Features for 5510 W Saginaw Hwy
General Information
- Standard status
- Active
- Size
- 4,258 SF
- Lot size
- 0.85 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1969
Listing agency
NAI Wisinski of West Michigan
(269) 353-0311
Listed by
Jodi K Milks · License #6502339107
Source
Elliman
Added: Jun 3 Updated: Jul 10 at 1:49PM Checked: Jul 21 at 8:58AM
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 NAI Wisinski of West Michigan
Investment Insights
Based on property information with market context.
This freestanding building totals 4,258 SF and was formerly used as a bank. The offering also includes an additional 1,500 SF four-lane drive-thru, providing an existing circulation and service setup that many service-driven and customer-facing concepts can use as-is. The property sits on 0.851 acres.
The site is positioned as an outlot along Saginaw Highway within the Lansing Mall retail corridor. It is described as having strong visibility and access along one of the area’s primary commercial corridors, and the surrounding area is characterized by a mix of national retailers, restaurants, entertainment venues, and service providers.
The current zoning is C Commercial in Delta Charter Township, which supports a range of professional and customer-oriented uses. The building and drive-thru configuration can fit professional office, medical office, retail, or service-oriented users looking for an improved site that already includes drive-thru infrastructure. The property is available September 2026.
The site is positioned as an outlot along Saginaw Highway within the Lansing Mall retail corridor. It is described as having strong visibility and access along one of the area’s primary commercial corridors, and the surrounding area is characterized by a mix of national retailers, restaurants, entertainment venues, and service providers.
The current zoning is C Commercial in Delta Charter Township, which supports a range of professional and customer-oriented uses. The building and drive-thru configuration can fit professional office, medical office, retail, or service-oriented users looking for an improved site that already includes drive-thru infrastructure. The property is available September 2026.
Key Highlights
- Freestanding former bank building with 4,258 SF on 0.851 acres (built 1969)
- Includes an additional 1,500 SF four‑lane drive‑thru with existing drive‑thru infrastructure
- Zoned C Commercial in Delta Charter Township
Local Financial Insights For Healthcare Medical
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 | $81.8k | $19.20 |
| − Vacancy | −$6.5k | −$1.54 |
| EGI | $75.2k | $17.66 |
| − OpEx | −$30.1k | −$7.07 |
| NOI | $45.1k | $10.60 |
4,258 SF · lease $19.20/SF/yr · vacancy 8.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$644.7K
$564.1K – $752.1K
NOI $45,128 @ 7.0% cap · market cap 3.76%
Second Best
Office B
$586.9K
$513.5K – $684.7K
NOI $41,081 @ 7.0% cap · market cap 3.42%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Comerica Bank - ATM
Atm
Comerica Bank
Bank
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Freestanding former bank building with drive-thru infrastructure, suited for professional, medical, retail, or service uses.
Where is this office building located?
The property is located at 5510 W Saginaw Hwy 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: Freestanding former bank building with 4,258 SF on 0.851 acres (built 1969); Includes an additional 1,500 SF four‑lane drive‑thru with existing drive‑thru infrastructure; Zoned C Commercial in Delta Charter Township
