Retail Property with Fitness
For Sale
Contact for pricing
608 S Saginaw Blvd, Saginaw, TX 76179
Modern freestanding retail asset occupied by Planet Fitness along Saginaw’s primary retail corridor.
Property Size20,000 SF
Price / SF$232.50
Days on Market133
Property Features for 608 S Saginaw Blvd
General Information
Standard status
Active
Size
20,000 SF
Class
A
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Additional Details
Cap Rate
6.8%
Building Details
Year Built
2021
Units
1
Tenancy
Single
Listing Agency:
GO Real Estate
Listed By:
Ahmed Omar · License #0677126
Source:
Crexi
Added: Apr 21
Changed: Aug 30
Last Checked: Aug 30 at 3:09PM
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 GO Real Estate
Investment Insights
Based on property information with market context.
This freestanding retail property was constructed in 2021 and contains approximately 20,000 SF. The building is 100% leased to Planet Fitness, providing an established fitness use within a purpose-built commercial structure.
Located at 608 S Saginaw Blvd in Saginaw, Texas, the property sits along the community’s primary retail corridor and serves the Saginaw area as well as the broader North Fort Worth and Alliance growth corridor. The asset carries a 6.8% cap rate and combines a national fitness tenant with modern construction.
Located at 608 S Saginaw Blvd in Saginaw, Texas, the property sits along the community’s primary retail corridor and serves the Saginaw area as well as the broader North Fort Worth and Alliance growth corridor. The asset carries a 6.8% cap rate and combines a national fitness tenant with modern construction.
Key Highlights
- Approximately 20,000 SF freestanding retail property
- Built in 2021
- 100% leased to Planet Fitness
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
$321,471
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
6.91%
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%
$6,429,420
$6.4M
Cap Rate 7%
$4,592,443
$4.6M
Cap Rate 9%
$3,571,900
$3.6M
Market Conditions
NOI Build-Up for 20,000 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
$482.4K $24.12/SF
− Vacancy
−$23.2K −$1.16/SF
EGI
$459.2K $22.96/SF
− OpEx
−$137.8K −$6.89/SF
NOI
$321.5K $16.07/SF
Area
ZIP 76179
Vacancy
4.80%
Lease Rate
$24.12 /SF/Yr
Expense Ratio
30.00%
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%
$6,429,420
Cap Rate 7%
$4,592,443
Cap Rate 9%
$3,571,900
Alternative Uses
Best Use
Retail
$4.59M
$4.02M – $5.36M
NOI $321,471 @ 7.0% cap · market cap 6.91%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$23.87M
$20.89M – $27.85M
NOI $1,670,811 @ 7.0% cap · market cap 35.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
415
Businesses Nearby
Explore this area
Business Placement
Demographics for 76179, TX
68,333
Population
26,227
Households
2.6
Avg Household Size
34
Median Age
31%
College-Educated
92%
High-School Grad
51.9 sq mi
ZIP Area
1,317
Density / Sq Mi
$108,428
Median Household Income
$53,878
Median Earnings
$1,840
Median Rent
$299,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Modern freestanding retail asset occupied by Planet Fitness along Saginaw’s primary retail corridor.
Where is this retail space located?
The property is located at 608 S Saginaw Blvd Saginaw, TX.
What is the asking price?
The asking price for this property is $4,650,000.
What are key features of this property?
This property features: Approximately 20,000 SF freestanding retail property; Built in 2021; 100% leased to Planet Fitness
