Bank Building with
5510 W Saginaw, Lansing, MI 48915
For Sale
$1,200,000
A freestanding former bank offers existing drive-through infrastructure and C Commercial zoning.
Property Size4,258 SF
Lot Size0.85 Acres
Price / SF$281.82
Days on Market166
Property Features for 5510 W Saginaw
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Site & Location
Drive-Thru
Highway Access
Road Access
Additional Details
Property Use
Amenities
drive-thru
Building Details
Year Built
Building Size
Tenancy
Listing Agency:
Nai Wisinski Of West Michigan
(269) 353-0311
Listed By:
Jodi Milks · License MI #6506044331
(269) 207-1040
Source:
Jabachler
Added: Jun 2
Changed: Nov 12
Last Checked: Nov 13 at 12:37AM
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.
This freestanding former bank in Delta Charter Township includes a 4,258-square-foot building and a separate 1,500-square-foot drive-through with four lanes. The 0.851-acre property is zoned C Commercial and is scheduled to become available in September 2026.
The site fronts W Saginaw in Lansing’s mall retail corridor, among retailers, restaurants, entertainment venues, and service businesses. Its standalone configuration and existing drive-through facilities are defining features of the property.
The site fronts W Saginaw in Lansing’s mall retail corridor, among retailers, restaurants, entertainment venues, and service businesses. Its standalone configuration and existing drive-through facilities are defining features of the property.
Key Highlights
- 4,258‑square‑foot former bank building
- Separate 1,500‑square‑foot drive‑through with four lanes
- 0.851‑acre freestanding property
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
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 authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
672
Businesses Nearby
Explore this area
Business Placement
Demographics for 48915, MI
9,176
Population
4,768
Households
1.9
Avg Household Size
35
Median Age
36%
College-Educated
90%
High-School Grad
1.8 sq mi
ZIP Area
5,098
Density / Sq Mi
$51,653
Median Household Income
$34,460
Median Earnings
$1,087
Median Rent
$112,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Bank - A freestanding former bank offers existing drive-through infrastructure and C Commercial zoning.
Where is this bank located?
The property is located at 5510 W Saginaw 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‑square‑foot former bank building; Separate 1,500‑square‑foot drive‑through with four lanes; 0.851‑acre freestanding property
