Vacant Warehouse Site with
For Sale
$400,000
7780 Bay Road, Saginaw, MI 48604
VACANT LAND, Saginaw, MI
Property Size2,400 SF
Lot Size2.83 Acres
Price / SF$166.67
Days on Market313
Property Features for 7780 Bay Road
General Information
Property type
Land
Property subtype
Other
Zoning
Commercial
Zoning description
Commercial
Rooms
Basement
Lot features
Main Street, Partially Wooded
Elementary school district
Bay City School District
Middle school district
Bay City School District
High school district
Bay City School District
Subdivision
Kochville Twp (73015)
Standard status
Active
APN
18-13-4-23-2004-002
Lot size
2.83 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1766
Utilities
Water source
Private
Amenities
barn
well
septic
Listing Agency:
Berkshire Hathaway HomeServices
(989) 790-9292
Listed By:
Valerie Ellerman
(313) 378-2225
Added: Oct 13, 2025
Changed: Aug 19
Last Checked: Aug 21 at 1:06PM
MLS# 50191384
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
A 2.83-acre vacant land offering that includes a 40x60 barn with electricity. The property also references private well water and septic, though the remarks note that the exact locations of the well and septic on the site are not confirmed.
The property is located at 7780 Bay Road in Saginaw, MI, in a desirable area with close proximity to the freeway and the business sector along Bay Rd.
The property is located at 7780 Bay Road in Saginaw, MI, in a desirable area with close proximity to the freeway and the business sector along Bay Rd.
Key Highlights
- 2.83 acres of vacant land at 7780 Bay Road, Saginaw, MI 48604
- 40x60 barn on site
- Electricity available to the barn
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
$16,451
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
4.11%
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%
$329,020
$329.0K
Cap Rate 7%
$235,014
$235.0K
Cap Rate 9%
$182,789
$182.8K
Market Conditions
NOI Build-Up for 2,400 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
$20.2K $8.40/SF
− Vacancy
−$806 −$0.34/SF
EGI
$19.4K $8.06/SF
− OpEx
−$2.9K −$1.21/SF
NOI
$16.5K $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 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%
$329,020
Cap Rate 7%
$235,014
Cap Rate 9%
$182,789
Alternative Uses
Best Use
Warehouse
$235.0K
$205.6K – $274.2K
NOI $16,451 @ 7.0% cap · market cap 4.11%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$443.4K
$388.0K – $517.3K
NOI $31,039 @ 7.0% cap · market cap 7.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
68
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48604, MI
12,386
Population
4,603
Households
2.7
Avg Household Size
29
Median Age
24%
College-Educated
95%
High-School Grad
26.3 sq mi
ZIP Area
471
Density / Sq Mi
$53,804
Median Household Income
$18,887
Median Earnings
$928
Median Rent
$93,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Michigan Storage Solutions — 7334 Westside Saginaw Rd, Bay City, MI 48706
Frequently Asked Questions
What type of property is this?
Warehouse - 2.83 acres of vacant land on Bay Rd includes a 40x60 barn with electricity plus private well water and septic.
Where is this warehouse located?
The property is located at 7780 Bay Road Saginaw, MI.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 2.83 acres of vacant land at 7780 Bay Road, Saginaw, MI 48604; 40x60 barn on site; Electricity available to the barn
