Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3101 Saginaw St Lansing, MI 48912

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Restaurant Space Available, High Traffic Area

    Lot size:
    3,584 SF

    Property Features for 3101 Saginaw St

    General Information

    Property type
    Retail properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    3,584 SF

    Building Details

    Year Built/Renovated
    1947/2000
    Buildings
    1
    Stories
    1

    Spaces For Lease

    at 3101 Saginaw St, Lansing, MI 48912 Contact us
    Unit 716 N Clippert

    $23 /Mo

    Size
    1,020 SF
    Contact us
    Unit 742 N Clippert St

    $23 /Mo

    Size
    1,211 SF
    Contact us
    Unit 724 N Clippert St

    $23 /Mo

    Size
    1,353 SF
    Contact us

    We can help!

    Listing Contact
    Shawn H. O'Brien, Ccim
    Shawn H. O'Brien, Ccim

    Listing Agency: Colliers Lansing Listing Agent: Shawn H. O'Brien, Ccim

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Medawar Strip Center, located at 3101 E Saginaw St, Lansing, MI 48912, presents a unique opportunity for restaurant businesses seeking a high-visibility location. This single-story, 1947-built property underwent renovations in 2000 and offers multiple spaces, with a minimum of 1,020 square feet and a maximum contiguous space of 2,373 square feet. The center is situated on a major commercial corridor in Central Lansing, at the intersection of E Saginaw St, Clippert St, and US-127, ensuring high foot traffic and excellent visibility. Its strategic location provides easy access to Michigan State University campus and the Frandor Shopping Center, further enhancing its appeal. The property benefits from its placement on a bus line and at a signalized intersection, improving accessibility. Ample parking is available with approximately 57 free spaces. The property is zoned F Commercial (Retail) and has an APN of 33-01-01-11-451-002. This is an exceptional opportunity to establish or expand a restaurant business in a thriving Lansing location. The building's total square footage is not specified.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medawar's Frandor (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lansing
    County
    Eaton
    State
    Michigan
    Longitude
    -84.50772
    Latitude
    42.7410584

    Nearby Similar for Lease

    • $3,105 /Mo
      2,484 SF

      Spacious First-Floor Office Suite

      2484 SF office suite with flexible layout and ample parking.
      5123 St Joe Hwy W, Lansing, MI 48917
      View Details
    • $750 /Mo
      13,912 SF

      Renovated Space in Moores Park

      Renovated office/retail space near Moores River Park. Utilities included.
      700 W Barnes Ave, Lansing, MI 48910
      View Details
    • $2,340 /Mo
      1,870 SF

      Lansing Office Suite For Lease

      Second-floor office suite with flexible space and ample parking.
      5123 St Joe Hwy W, Lansing, MI 48917
      View Details
    • $3,500 /Mo
      2,444 SF

      High-Visibility Lansing Restaurant Opportunity

      Freestanding restaurant space with drive-thru in high-traffic location.
      3122 S Martin Luther King Junior Blvd, Lansing, MI 48910
      View Details
    • $1,300 /Mo
      900 SF

      Retail Space in Lansing, MI

      Retail space for rent with high visibility and traffic.
      4405 S Martin Luther King Jr Blvd, Lansing, MI 48910
      View Details
    • $1,600 /Mo
      2,500 SF

      High-Traffic Commercial Space Available

      Retail, office, or restaurant space in high-traffic Lansing location.
      3318 S Cedar St, Lansing, MI 48910
      View Details
    • $2,500 /Mo
      2,500 SF

      Lansing Office Space For Rent

      Office space available for lease in Lansing, Michigan.
      3911 W Michigan Ave, Lansing, MI 48917
      View Details
    • $15 SF/Yr
      10,800 SF

      Downtown Lansing Commercial Space Available

      Restaurant-ready space near Capitol Complex in downtown Lansing.
      208 S Washington Sq Unit 1, Lansing, MI 48933
      View Details
    • Sponsored
      Contact for pricing

      MI, Lansing - S Capitol Ave

      Flexible workspace in MI, Lansing - S Capitol Ave
      501 Capitol Ave, Lansing, MI 48933
      View Details
    • Contact for pricing

      MI, Lansing - Lake Lansing Rd

      Flexible workspace in MI, Lansing - Lake Lansing Rd
      2624 Lake Lansing Rd, Lansing, MI 48912
      View Details
    • $3,684 /Mo
      3,684 SF

      Lansing Retail Store Corner Unit

      Retail space in Lansing with high visibility and flexible options.
      6046 S Cedar St, Lansing, MI 48911
      View Details
    • New
      Contact for pricing

      One Michigan Avenue

      Discover many ways to work your way in One Michigan Avenue
      120 Washington Ave, Lansing, MI 48933
      View Details

    FAQs

    What type of property is this?
    Retail property - Restaurant Space Available, High Traffic Area
    Where is this retail property located?
    The property is located at 3101 Saginaw St Lansing, MI.
    What is the lease rate?
    The lease rate is $23 SF/Yr.
    What are key features of this property?
    This property features: High-visibility location with excellent street frontage.; High foot traffic, averaging 517,500 visits annually.; Proximity to Michigan State University campus.
    (517) 662-3529 Call to check price and availability
    Request Owner's contact information
    3101 Saginaw St Lansing, MI 48912
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3101 Saginaw St
    Lansing, MI 48912
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3101 Saginaw St Lansing, MI 48912
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Shawn H. O'Brien, Ccim
    Shawn H. O'Brien, Ccim
    Real Estate License ID: 6502358107
    (517) 662-3529 (517) 303-5554 (517) 662-3535
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!