Commercial Land with Storage
New
For Sale
$689,000
6245 State St, Saginaw, MI 48603
B-3 zoning accompanies open land and two existing storage buildings.
Property Size7,240 SF
Price / SF$95.17
Days on Market6
Property Features for 6245 State St
General Information
Standard status
Active
Size
7,240 SF
Property subtype
Land, Retail
Zoning
B-3
Building Details
Building Size
7,240 SF
Year Built
1972
Buildings
2
Stories
1
Listing Agency:
CENTURY 21 Signature Realty
Listed By:
Kenneth M. Kujawa
(989) 239-5581
Source:
Cpix.resimplifi
Added: Oct 26
Changed: Oct 30
Last Checked: Oct 30 at 3:26PM
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
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Investment Insights
Based on property information with market context.
This B-3 commercial parcel in Saginaw Township encompasses 2.4 acres and includes two storage buildings. One measures 68 feet by 46 feet, with 14-foot walls; the other measures 56 feet by 46 feet, with 12-foot walls. State Street frontage extends 255 feet.
Key Highlights
- 2.4 acres of B‑3 commercial land
- 255 feet of frontage on State Street
- Two storage buildings: 68' x 46' with 14‑foot walls and 56' x 46' with 12‑foot walls
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,626
Cap Rate
7.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$992,520
$992.5K
Cap Rate 7%
$708,943
$708.9K
Cap Rate 9%
$551,400
$551.4K
Market Conditions
NOI Build-Up for 7,240 SF
Gross rent
$60.8K $8.40/SF
− Vacancy
−$2.4K −$0.34/SF
EGI
$58.4K $8.06/SF
− OpEx
−$8.8K −$1.21/SF
NOI
$49.6K $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%
$992,520
Cap Rate 7%
$708,943
Cap Rate 9%
$551,400
Alternative Uses
Best Use
Warehouse
$708.9K
$620.3K – $827.1K
NOI $49,626 @ 7.0% cap · market cap 7.20%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.34M
$1.17M – $1.56M
NOI $93,635 @ 7.0% cap · market cap 13.59%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
267
Businesses Nearby
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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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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Commercial land - B-3 zoning accompanies open land and two existing storage buildings.
Where is this commercial land located?
The property is located at 6245 State St Saginaw, MI.
What is the asking price?
The asking price for this property is $689,000.
What are key features of this property?
This property features: 2.4 acres of B‑3 commercial land; 255 feet of frontage on State Street; Two storage buildings: 68' x 46' with 14‑foot walls and 56' x 46' with 12‑foot walls
