Drug Store Building with
For Sale
$395,000
7835 Gratiot Rd, Saginaw, MI 48609
Former pharmacy improvements offer customer parking, pylon signage, and proximity to established national and local retailers.
Property Size3,120 SF
Price / SF$126.60
Days on Market77
Property Features for 7835 Gratiot Rd
General Information
Standard status
Active
Size
3,120 SF
Property subtype
Retail
Zoning
B-3 & R-2
Site & Location
Drive-Thru
Yes
Pylon Signage
Yes
Amenities
Power
Water
Sewer
Natural Gas
Drive-Thru
Building Details
Year Built
1964
Buildings
1
Listing Agency:
Advantage Commercial Real Estate
(248) 892-2634
Listed By:
Cody Smith · License #6501443789
(248) 892-2634
Source:
Carwm.resimplifi
Added: Jun 15
Changed: Aug 29
Last Checked: Aug 29 at 6:35PM
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 Advantage Commercial Real Estate
Investment Insights
Based on property information with market context.
Located at 7835 Gratiot Rd in Saginaw, this 3,120-square-foot former pharmacy building was constructed in 1964 and includes a drive-through. The property occupies 1.16 acres with on-site parking, pylon signage, and access from Gratiot Rd. Zoning is B-3 & R-2.
The site is approximately six miles west of downtown Saginaw and sits within a retail corridor that includes Starbucks, Jimmy John's, Taco Bell, The Home Depot, Meijer, AutoZone, Tractor Supply Co., and other businesses and service providers. The sale also includes adjacent parcels 28-12-3-25-3103-000 and 28-12-3-25-3116-000, expanding the overall property ownership associated with the offering.
The site is approximately six miles west of downtown Saginaw and sits within a retail corridor that includes Starbucks, Jimmy John's, Taco Bell, The Home Depot, Meijer, AutoZone, Tractor Supply Co., and other businesses and service providers. The sale also includes adjacent parcels 28-12-3-25-3103-000 and 28-12-3-25-3116-000, expanding the overall property ownership associated with the offering.
Key Highlights
- 3,120 SF former pharmacy building constructed in 1964
- Drive‑through included with the building
- 1.16‑acre parcel with on‑site parking
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
$23,238
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
5.88%
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%
$464,760
$464.8K
Cap Rate 7%
$331,971
$332.0K
Cap Rate 9%
$258,200
$258.2K
Market Conditions
NOI Build-Up for 3,120 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
$40.4K $12.96/SF
− Vacancy
−$7.2K −$2.32/SF
EGI
$33.2K $10.64/SF
− OpEx
−$10.0K −$3.19/SF
NOI
$23.2K $7.45/SF
Area
Saginaw County, MI
Vacancy
17.90%
Lease Rate
$12.96 /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%
$464,760
Cap Rate 7%
$331,971
Cap Rate 9%
$258,200
Alternative Uses
Best Use
Specialty Retail
$576.4K
$504.4K – $672.5K
NOI $40,351 @ 7.0% cap · market cap 10.22%
Second Best
Retail
$332.0K
$290.5K – $387.3K
NOI $23,238 @ 7.0% cap · market cap 5.88%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
254
Businesses Nearby
119k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 66%
Shops & Services 33%
Electronics 1%
McDonald's
Dining
19,236 visits/mo
0.0 miles
Culver's
Dining
17,416 visits/mo
0.3 miles
Meijer Gas Station
Shops & Services
14,444 visits/mo
0.5 miles
Taco Bell
Dining
12,297 visits/mo
0.2 miles
Mobil
Shops & Services
11,591 visits/mo
0.2 miles
Demographics for 48609, MI
12,082
Population
5,494
Households
2.2
Avg Household Size
50
Median Age
26%
College-Educated
93%
High-School Grad
44.8 sq mi
ZIP Area
270
Density / Sq Mi
$78,800
Median Household Income
$43,865
Median Earnings
$903
Median Rent
$166,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Jill Muscott, RPH — 7835 Gratiot Rd, Saginaw, MI 48609
- Charles W. Richter, RPH — 7835 Gratiot Rd, Saginaw, MI 48609
- Mary Ann Herline, RPH — 7835 Gratiot Rd, Saginaw, MI 48609
- Brady Drugs — 7835 Gratiot Rd, Saginaw, MI 48609
- Shields Chiropractic — 7075 Gratiot Rd #2, Saginaw, MI 48609
Frequently Asked Questions
What type of property is this?
Drug store - Former pharmacy improvements offer customer parking, pylon signage, and proximity to established national and local retailers.
Where is this drug store located?
The property is located at 7835 Gratiot Rd Saginaw, MI.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 3,120 SF former pharmacy building constructed in 1964; Drive‑through included with the building; 1.16‑acre parcel with on‑site parking
