Turnkey Sandwich
For Sale
Contact for pricing
5605 STATE ST, Saginaw, MI 48603
Turnkey sandwich shop with established reputation and a lease in place through 2031.
Property Size600 SF
Price / SF$165
Days on Market66
Property Features for 5605 STATE ST
General Information
Standard status
Active
Size
600 SF
Property subtype
Business for Sale
Additional Details
Business Included
Yes
Building Details
Year Built
1986
Stories
1
Units
1
Listing Agency:
CENTURY 21 Signature Realty
(989) 921-7000
Listed By:
Kenneth Kujawa · License #6502333762
Source:
Crexi
Added: Jun 8
Changed: Aug 8
Last Checked: Jul 22 at 10:30AM
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 CENTURY 21 Signature Realty
Investment Insights
Based on property information with market context.
This is a business sale for a fully turnkey sandwich shop, presented with included equipment, supplies, and business assets to support a seamless transition. The operation has a documented customer reputation, with outstanding 5-star reviews on both Google and Yelp. A secure lease is already in place through 2031, and the stated rent is $600 per month with utilities included.
The shop is positioned in a high-traffic location, according to the property remarks, supporting day-to-day visibility and customer flow. The current ownership is moving on to other opportunities, creating an opportunity for an operator or buyer seeking a ready-to-run restaurant concept without acquiring the real estate.
This offering is best suited for an owner-operator or investor looking to take over a proven, operational sandwich shop without needing to source equipment or assemble core business assets. With the lease term extended through 2031 and utilities included in the rent structure as described, the buyer can focus on maintaining the existing operation and customer experience. Business sale only; no real estate is included in this transaction.
The shop is positioned in a high-traffic location, according to the property remarks, supporting day-to-day visibility and customer flow. The current ownership is moving on to other opportunities, creating an opportunity for an operator or buyer seeking a ready-to-run restaurant concept without acquiring the real estate.
This offering is best suited for an owner-operator or investor looking to take over a proven, operational sandwich shop without needing to source equipment or assemble core business assets. With the lease term extended through 2031 and utilities included in the rent structure as described, the buyer can focus on maintaining the existing operation and customer experience. Business sale only; no real estate is included in this transaction.
Key Highlights
- Fully established sandwich shop business (business sale only; no real estate included)
- Secure lease in place through 2031 with rent at $600/month including all utilities
- Year built: 1986
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
$7,760
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
7.84%
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%
$155,200
$155.2K
Cap Rate 7%
$110,857
$110.9K
Cap Rate 9%
$86,222
$86.2K
Market Conditions
NOI Build-Up for 600 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
$10.8K $18.00/SF
− Vacancy
−$454 −$0.76/SF
EGI
$10.3K $17.24/SF
− OpEx
−$2.6K −$4.31/SF
NOI
$7.8K $12.93/SF
Area
Saginaw County, MI
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$155,200
Cap Rate 7%
$110,857
Cap Rate 9%
$86,222
Alternative Uses
Best Use
Specialty Retail
$110.9K
$97.0K – $129.3K
NOI $7,760 @ 7.0% cap · market cap 7.84%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
483
Businesses Nearby
310k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 29%
Dining 22%
Shops & Services 18%
Home Improvements & Furnishings 16%
Walmart
Superstores
89,385 visits/mo
0.3 miles
Menards
Home Improvements & Furnishings
45,077 visits/mo
0.4 miles
Aldi
Groceries
21,186 visits/mo
0.5 miles
Dollar Tree
Shops & Services
17,557 visits/mo
0.4 miles
Applebee's
Dining
16,735 visits/mo
0.4 miles
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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Turnkey sandwich shop with established reputation and a lease in place through 2031.
Where is this conventional restaurant located?
The property is located at 5605 STATE ST Saginaw, MI.
What is the asking price?
The asking price for this property is $99,000.
What are key features of this property?
This property features: Fully established sandwich shop business (business sale only; no real estate included); Secure lease in place through 2031 with rent at $600/month including all utilities; Year built: 1986
