Drive-Through Retail/Medical
For Sale
$439,900
6161 State St, Saginaw, MI 48603
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$170.90
Days on Market169
Property Features for 6161 State St
General Information
Standard status
Active
Size
2,574 SF
Class
C
Lot size
0.92 Acres
Property subtype
Office - General Office
Building Details
Building Size
2,574 SF
Year Built
1970
Listing Agency:
Trademark Commercial Group
Listed By:
Gretchen Witherspoon, SIOR, CCIM · License #6501316390
(989) 792-2192
Source:
Commercialcafe
Added: May 8
Changed: Oct 11
Last Checked: Oct 20 at 5:33PM
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
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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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,193
Cap Rate
5.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$503,860
$503.9K
Cap Rate 7%
$359,900
$359.9K
Cap Rate 9%
$279,922
$279.9K
Market Conditions
NOI Build-Up for 2,574 SF
Gross rent
$38.6K $15.00/SF
− Vacancy
−$5.0K −$1.95/SF
EGI
$33.6K $13.05/SF
− OpEx
−$8.4K −$3.26/SF
NOI
$25.2K $9.79/SF
Area
Saginaw County, MI
Vacancy
13.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$503,860
Cap Rate 7%
$359,900
Cap Rate 9%
$279,922
Alternative Uses
Best Use
Office B
$359.9K
$314.9K – $419.9K
NOI $25,193 @ 7.0% cap · market cap 5.73%
Second Best
Healthcare Medical
$278.3K
$243.5K – $324.7K
NOI $19,482 @ 7.0% cap · market cap 4.43%
Theoretical Best
Specialty Retail
$475.6K
$416.1K – $554.8K
NOI $33,290 @ 7.0% cap · market cap 7.57%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Current Use
Location Intelligence
Trade Area within ½ mile
311
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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
Frequently Asked Questions
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 $439,900.
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
