1040 Towerline Rd Saginaw, MI 48601
14,519 SF Net Lease Office, 9.5% Cap Rate
Property size:
14,519 SFProperty Features for 1040 Towerline Rd
General Information
- Property type
- Medical offices
- Square Feet
- 14,519 SF
- Class
- C
- Lot Size
- 130,680 SF
Building Details
- Year Built
- 2001
- Buildings
- 1
Listing Agent: Deno Bistolarides
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional investment opportunity presents a 14,519-square-foot Class C office building situated on a 3-acre lot in Saginaw, Michigan. The property is currently 100% occupied under a single-tenant, net lease with the Saginaw County Mental Health Authority (SCCMHA), a stable, local governmental entity employing over 310 staff and contracting with more than 150 organizations. The lease, originally commenced on May 29, 2001, has recently been renewed, extending the term beyond the original expiration date of May 30, 2024, with two one-year options remaining. The building, constructed in 2001, has undergone recent interior and exterior renovations, including landscaping, parking lot improvements, and alarm system upgrades, demonstrating the tenant's long-term commitment. The property boasts a strong 9.50% cap rate and a net operating income (NOI) of $104,808, with an asking price of $1,103,200 ($75.98/SF). Conveniently located near I-75, this property benefits from excellent access to a population exceeding 51,000 within a five-mile radius. The double net lease structure minimizes landlord responsibilities, making this a low-maintenance, high-return investment. The property's location within the Saginaw, Midland, and Bay City metropolitan area, and the tenant's substantial local presence, contribute to its exceptional stability and long-term potential.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Transportations Services
Freight Service
Crisis Intervention Services
Crisis Center
Dr. G R. ...
Physician
Lynn C. White, ...
Physician
Location Insight
- Map
- Local Demand
- City
- Saginaw
- County
- Saginaw
- State
- Michigan
- Longitude
- -83.87681402
- Latitude
- 43.42207636
Nearby Similar for Sale
FAQs
What type of property is this?
Medical office - 14,519 SF Net Lease Office, 9.5% Cap Rate
Where is this medical office located?
The property is located at 1040 Towerline Rd Saginaw, MI.
What is the asking price?
The asking price for this property is $1,103,200.
What are key features of this property?
This property features: Net-leased office investment totaling 14,519 square feet on a 3-acre site.; Long-term tenant with a recent lease renewal, occupying the property for over two decades.; Tenant is the Saginaw County Community Mental Health Authority (SCCMHA), a stable, local government entity with over 310 employees and extensive community ties.
