Single-Tenant Distribution
For Sale
Contact for pricing
600 East Morley Drive, Saginaw, MI 48601
Last-mile fulfillment facility occupied by Apria, Inc. for home healthcare equipment and related service operations.
Property Size8,400 SF
Price / SF$95.24
Days on Market189
Property Features for 600 East Morley Drive
General Information
Standard status
Active
Size
8,400 SF
Property subtype
Industrial
Zoning
light industrial
Net Operating Income
$59,500
Building Details
Year Built
1996
Year Renovated
2022
Stories
1
Units
1
Tenancy
Single
Listing Agency:
CRS, Commercial Real Estate Services
Listed By:
Leo Gonzalez · License #MI 6502126741
Source:
Crexi
Added: Apr 11
Changed: Oct 14
Last Checked: Oct 14 at 10:27PM
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 CRS, Commercial Real Estate Services
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Investment Insights
Based on property information with market context.
The offering comprises the fee simple interest in a single-tenant distribution center at 600 E Morley Drive in Saginaw, Michigan. The facility supports last-mile fulfillment activity and is leased to Apria, Inc., doing business as Apria.
Apria provides home healthcare equipment and related services, serving patients with chronic and non-chronic conditions across the country. Apria became part of Owens & Minor in 2022, connecting the tenancy with Owens & Minor’s Byram Healthcare business. The property is presented as an occupied industrial asset with an established healthcare-oriented operating use.
Apria provides home healthcare equipment and related services, serving patients with chronic and non-chronic conditions across the country. Apria became part of Owens & Minor in 2022, connecting the tenancy with Owens & Minor’s Byram Healthcare business. The property is presented as an occupied industrial asset with an established healthcare-oriented operating use.
Key Highlights
- Fee simple interest in 600 E Morley Dr, Saginaw, MI 48601
- Single‑tenant industrial distribution facility
- Configured for last‑mile fulfillment operations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,577
Cap Rate
7.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,151,540
$1.2M
Cap Rate 7%
$822,529
$822.5K
Cap Rate 9%
$639,744
$639.7K
Market Conditions
NOI Build-Up for 8,400 SF
Gross rent
$70.6K $8.40/SF
− Vacancy
−$2.8K −$0.34/SF
EGI
$67.7K $8.06/SF
− OpEx
−$10.2K −$1.21/SF
NOI
$57.6K $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%
$1,151,540
Cap Rate 7%
$822,529
Cap Rate 9%
$639,744
Alternative Uses
Best Use
Warehouse
$822.5K
$719.7K – $959.6K
NOI $57,577 @ 7.0% cap · market cap 7.20%
Second Best
Industrial
$625.7K
$547.5K – $730.0K
NOI $43,800 @ 7.0% cap · market cap 5.48%
Theoretical Best
Specialty Retail
$1.55M
$1.36M – $1.81M
NOI $108,637 @ 7.0% cap · market cap 13.58%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
78
Businesses Nearby
Explore this area
Business Placement
Demographics for 48601, MI
32,165
Population
16,220
Households
2
Avg Household Size
39
Median Age
8%
College-Educated
86%
High-School Grad
104.3 sq mi
ZIP Area
308
Density / Sq Mi
$37,830
Median Household Income
$27,218
Median Earnings
$836
Median Rent
$54,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Distribution center - Last-mile fulfillment facility occupied by Apria, Inc. for home healthcare equipment and related service operations.
Where is this distribution center located?
The property is located at 600 East Morley Drive Saginaw, MI.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Fee simple interest in 600 E Morley Dr, Saginaw, MI 48601; Single‑tenant industrial distribution facility; Configured for last‑mile fulfillment operations
