Drive-Through Retail/Medical
6161 STATE ST Saginaw, MI 48603
6161 STATE ST, Saginaw, MI, 48603
Contact for pricing
For Sale
Contact for pricing
Former bank converted to physical therapy/medical space with drive-through potential on State St.
Property Size2,574 SF
Lot Size0.92 Acres
Price / SF$174.83
Days on Market85
Property Features for 6161 STATE ST
General Information
- Standard status
- Active
- Size
- 2,574 SF
- Lot size
- 0.92 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1970
Listing agency
Trademark Commercial Group
(989) 792-2192
Listed by
Gretchen Witherspoon · License #MI 6501316390
Source
Crexi
Added: Apr 29 Updated: Jul 21 at 2:18PM Checked: Jul 21 at 2:18PM
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 Trademark Commercial Group
Investment Insights
Based on property information with market context.
This retail/office/drive-through building was originally constructed as a bank and has been converted to physical therapy/medical use. The property totals approximately 2,574 SF on 0.918 acres and could be utilized as office, retail, or food use with a drive-through configuration, based on its existing layout and building form.
Located at 6161 State St in Saginaw, MI, the building sits on a high-visibility State Street setting. It offers redevelopment flexibility for buyers seeking a multi-use commercial building with drive-through capability.
The offering is for sale at $450,000.
Located at 6161 State St in Saginaw, MI, the building sits on a high-visibility State Street setting. It offers redevelopment flexibility for buyers seeking a multi-use commercial building with drive-through capability.
The offering is for sale at $450,000.
Key Highlights
- Retail/office/drive‑thru building built in 1970
- Approximately 2,574 SF on 0.918 acres
- Originally built as a bank building, later converted to physical therapy/medical use
Local Financial Insights For Specialty Retail
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 | $46.3k | $18.00 |
| − Vacancy | −$1.9k | −$0.76 |
| EGI | $44.4k | $17.24 |
| − OpEx | −$11.1k | −$4.31 |
| NOI | $33.3k | $12.93 |
2,574 SF · lease $18.00/SF/yr · vacancy 4.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$475.6K
$416.1K – $554.8K
NOI $33,290 @ 7.0% cap · market cap 7.40%
Second Best
Office B
$359.9K
$314.9K – $419.9K
NOI $25,193 @ 7.0% cap · market cap 5.60%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Paramount Rehabilitation Services
Physician
Travis Mcclure
Physician
Elizabeth Barnes
Physician
Similar For Sale Nearby
Similar Off Market Nearby
- Riverside Animal Clinic — 1855 Midland Rd, Saginaw, MI 48638
- Dr. Heather Brenner — 1855 Midland Rd, Saginaw, MI 48638
- DR. SANDY CLINE — 1855 Midland Rd, Saginaw, MI 48638
- Remondini David J DVM — 1855 Midland Rd, Saginaw, MI 48638
FAQs
What type of property is this?
Medical Office Space - Former bank converted to physical therapy/medical space with drive-through potential on State St.
Where is this medical office space located?
The property is located at 6161 STATE ST Saginaw, MI.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Retail/office/drive‑thru building built in 1970; Approximately 2,574 SF on 0.918 acres; Originally built as a bank building, later converted to physical therapy/medical use
