Restaurant with Drive-Thru For
4021 W Saginaw Hwy Lansing, MI 48917
4021 W Saginaw Hwy, Lansing, MI, 48917
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For Sale
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Free-standing restaurant with drive-thru on 1.32 acres.
Property Size2,856 SF
Lot Size1.32 Acres
Price / SF$311.27
Days on Market1347
Property Features for 4021 W Saginaw Hwy
General Information
- Standard status
- Active
- Size
- 2,856 SF
- Lot size
- 1.32 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1980
Listing Agency
Woodworth Commercial Okemos
(517) 679-8633
Listed by
Todd Kosta · License #MI 6501346341
Source
Crexi
Added: Nov 9, 2022 Checked: Jul 17 at 5:01 am
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 Woodworth Commercial Okemos
Investment Insights
Based on property information with market context.
This free-standing restaurant, complete with a drive-thru, is situated on W. Saginaw Hwy, adjacent to McDonald's and one block from the Waverly Rd intersection. The property, comprising four parcels, totals 1.32 acres, offering ample parking and ingress/egress from both W. Saginaw and N Dibble Ave. The location is suitable for various fast-casual restaurant concepts, including fast-food, coffee shops, and sandwich shops. It is easily accessible to nearby residential areas and a new multi-family/commercial development at the corner of Waverly and Saginaw. Located across from West Saginaw Plaza, the surrounding area includes Arby's, Advance Auto Parts, Little Caesars Pizza, CVS Pharmacy, Walgreen's, Wendy's, AutoZone, Popeye's and JoAnn Fabric. The existing tenant has occupied the 2,856 square foot building for 10 years.
Key Highlights
- Prime location on W. Saginaw Hwy next to McDonald's
- Free‑standing restaurant with drive‑thru
- High‑traffic area with excellent visibility and accessibility
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $46.3k | $16.20 |
| − Vacancy | −$5.6k | −$1.94 |
| EGI | $40.7k | $14.26 |
| − OpEx | −$10.2k | −$3.56 |
| NOI | $30.5k | $10.69 |
2,856 SF · lease $16.20/SF/yr · vacancy 12.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$436.2K
$381.7K – $508.9K
NOI $30,536 @ 7.0% cap · market cap 3.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$587.9K
$514.4K – $685.9K
NOI $41,152 @ 7.0% cap · market cap 4.63%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Big John Steak ...
Restaurant
Hibachi House
Bar & Pub
Similar For Sale Nearby
FAQs
What type of property is this?
Drive through restaurant - Free-standing restaurant with drive-thru on 1.32 acres.
Where is this drive through restaurant located?
The property is located at 4021 W Saginaw Hwy Lansing, MI.
What is the asking price?
The asking price for this property is $889,000.
What are key features of this property?
This property features: Prime location on W. Saginaw Hwy next to McDonald's; Free‑standing restaurant with drive‑thru; High‑traffic area with excellent visibility and accessibility
