1040 Towerline Rd Saginaw, MI 48601

Property Details for 1040 Towerline Rd

Year built

1996

Lot size

3.00 lot acres

Property size

14,507 SF

Zone code

B-3 COM

Property type

Commercial real estate

APN

10-12-5-22-3004-002

APU

10125223004002

Description

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.