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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2921 Saginaw St Lansing, MI 48917-2334

    • Auto shops
    • 3,162 SF
    • 0.31 lot acres
    OFF-MARKET
    Value Estimations
    $285,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0950199
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Better Buy Muffler and Brake / Auto Repair Shop

    Property Details for 2921 Saginaw St

    Year built
    1952
    Lot size
    0.31 lot acres
    Property size
    3,162 SF
    Zone code
    E LOCAL
    Property type
    Auto shops
    APN
    33-21-01-18-203-032
    APU
    33210118203032

    Description

    This exceptional 3,162 square foot industrial building presents a rare opportunity in Lansing, Michigan. Located on a 0.31-acre lot at 2921 W Saginaw, this six-bay structure is currently configured as an automotive repair facility, showcasing its versatility and potential for diverse uses. The high-traffic location ensures excellent visibility and accessibility, ideal for attracting customers. The property is currently leased on a month-to-month basis, with the tenant expressing willingness to negotiate a new lease with a prospective buyer. This presents a unique chance for both business owners seeking expansion and investors looking for a strong income-generating asset. The building's size and layout offer ample space for various commercial operations, promising significant return on investment. Its prime location within Lansing makes it an attractive proposition for a wide range of businesses. Don't miss this chance to acquire a well-situated, functional industrial property with substantial growth potential. The asking price is $350,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $250,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $320,000
      Market price range: $172k - $451k
      AI Estimate
      $279,000
      Market price range: $124k - $319k

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $270,000
      Current use
      OFFICE BUILDING
      $390,000
      Change: +45% Conversion: Difficult
      MEDICAL BUILDING
      $270,000
      Change: -0% Conversion: Difficult
      RETAIL STORES
      $225,000
      Change: -16% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lansing
    County
    Ingham
    State
    Michigan
    Longitude
    -84.5895
    Latitude
    42.7407
    CBSA code
    29620
    CBSA name
    LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $8,468
    $42,900
    $77,300
    $120,200
    -
    $85,800
    $154,600
    $240,400

    Comparable in this City

    • Value Estimation by Request
      14,080 SF

      4600 Creyts Rd

      AUTO REPAIR, GARAGE • 14,080 SF
      4600 Creyts Rd, Lansing, MI 48917-8596
      View Details
    • Value Estimation by Request
      7,344 SF

      650 Marketplace Blvd

      AUTO REPAIR, GARAGE • 7,344 SF
      650 Marketplace Blvd, Lansing, MI 48917-7730
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    • Value Estimation by Request
      5,900 SF

      6141 Jomar Ct

      AUTO REPAIR, GARAGE • 5,900 SF
      6141 Jomar Ct, Lansing, MI 48917-7504
      View Details
    • Value Estimation by Request
      13,640 SF

      7720 Administration Dr

      AUTO REPAIR, GARAGE • 13,640 SF
      7720 Administration Dr, Lansing, MI 48917-1001
      View Details
    • Value Estimation by Request
      23,053 SF

      811 Canal Rd

      AUTO REPAIR, GARAGE • 23,053 SF
      811 Canal Rd, Lansing, MI 48917-7749
      View Details
    • Value Estimation by Request
      8,760 SF

      6851 Millett Hwy

      AUTO REPAIR, GARAGE • 8,760 SF
      6851 Millett Hwy, Lansing, MI 48917-9536
      View Details

    Similar Nearby for Sale

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      Lansing Auto Shop - $425K

      Vacant auto repair shop, 6,144 SF, 1.2 acres.
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    • Contact for pricing
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      Lansing Industrial Building For Sale

      17,080 SF industrial building in active logistics corridor.
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    • $369,000
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      Lansing Retail/Office Investment Opportunity

      Versatile 6,200 SF building in a high-traffic Lansing location.
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    • $1,950,000
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      Retail center with high exposure in Lansing's west sub-market.
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    Similar Nearby for Lease

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    • $11 SF/Yr
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      End-cap retail space with drive-up window in C and N Plaza.
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    • $9 SF/Yr
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      2,000 SF retail space with high traffic and visibility.
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      Retail space with high visibility and ample parking available for lease.
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    2921 Saginaw St
    Lansing, MI 48917-2334
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    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
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