Prime Retail Space
For Sale
Contact for pricing
5050 Gratiot Rd, Saginaw, MI 48638
Former Rite Aid location with over 11,000 square feet.
Property Size11,114 SF
Price / SF$116.88
Days on Market792
Property Features for 5050 Gratiot Rd
General Information
Standard status
Active
Size
11,114 SF
Property subtype
Retail
Zoning
B-3
Building Details
Year Built
1999
Buildings
1
Stories
1
Listing Agency:
CENTURY 21 Signature Realty
Listed By:
Kenneth Kujawa · License #6502333762
(989) 921-7000
Source:
Crexi
Added: Aug 6, 2024
Changed: Oct 4
Last Checked: Oct 5 at 7:36PM
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
Investment Insights
Based on property information with market context.
This retail space offers over 11,000 square feet and is located at the intersection of M-46 (Gratiot) and Center Road in Saginaw Township. Formerly a Rite Aid, the property is suitable for various business uses.
Key Highlights
- Over 11,000 square feet of retail space
- Located at the prominent intersection of M‑46 (Gratiot) and Center Road
- Situated in Saginaw Township
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$82,778
Cap Rate
6.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,655,560
$1.7M
Cap Rate 7%
$1,182,543
$1.2M
Cap Rate 9%
$919,756
$919.8K
Market Conditions
NOI Build-Up for 11,114 SF
Gross rent
$144.0K $12.96/SF
− Vacancy
−$25.8K −$2.32/SF
EGI
$118.3K $10.64/SF
− OpEx
−$35.5K −$3.19/SF
NOI
$82.8K $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 Rate 5%
$1,655,560
Cap Rate 7%
$1,182,543
Cap Rate 9%
$919,756
Alternative Uses
Best Use
Retail
$1.18M
$1.03M – $1.38M
NOI $82,778 @ 7.0% cap · market cap 6.37%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.05M
$1.80M – $2.40M
NOI $143,737 @ 7.0% cap · market cap 11.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
360
Businesses Nearby
20k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 60%
Dining 39%
Home Improvements & Furnishings 2%
Shell
Shops & Services
9,140 visits/mo
0.1 miles
Beef 'O' Brady's
Dining
4,551 visits/mo
0.2 miles
PNC Bank
Shops & Services
2,718 visits/mo
0.2 miles
Hungry Howie's Pizza
Dining
1,937 visits/mo
0.1 miles
SUBWAY
Dining
1,219 visits/mo
0.2 miles
Demographics for 48638, MI
13,199
Population
6,479
Households
2
Avg Household Size
42
Median Age
36%
College-Educated
95%
High-School Grad
6.5 sq mi
ZIP Area
2,031
Density / Sq Mi
$63,444
Median Household Income
$44,281
Median Earnings
$948
Median Rent
$161,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Former Rite Aid location with over 11,000 square feet.
Where is this retail space located?
The property is located at 5050 Gratiot Rd Saginaw, MI.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Over 11,000 square feet of retail space; Located at the prominent intersection of M‑46 (Gratiot) and Center Road; Situated in Saginaw Township
