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Property profile & analytics
FOR SALE
Drive through restaurants

4021 W Saginaw Hwy Lansing, MI 48917

2,984 SF 0.55 ac lot Built 1960
Entity Owned 16-yr Hold Free & Clear
Property ID
US43-2110541
Property summary
AI-generated overview

This exceptional free-standing restaurant building, totaling 2,856 square feet, presents a compelling investment opportunity or owner-user scenario. Located at 4021 W Saginaw Hwy in Lansing, Michigan, this property boasts a highly desirable drive-thru, ensuring convenient customer access. Situated on 1.32 acres comprised of four parcels (APN: 040-013-200-040-00, 040-043-900-030-00, 040-043-900-010-00, 040-043-900-020-00), the ample space provides extensive parking and convenient ingress/egress from W. Saginaw and N Dibble Ave. Built in 1980 and renovated in 2013, the building is zoned C and currently enjoys 100% occupancy with a long-term tenant (lease details available upon request). The property's strategic location across from McDonald's and one block from the Waverly Rd intersection places it within a thriving commercial corridor. Nearby establishments include Arby's, Advance Auto Parts, Little Caesars Pizza, CVS Pharmacy, Walgreens, Wendy's, AutoZone, Popeye's, and JoAnn Fabrics, among others, indicating strong surrounding retail activity. This prime location benefits from easy access to nearby neighborhoods and a new multi-family/commercial development at the corner of Waverly and Saginaw. The asking price is $889,000 ($311.27 per square foot). This is a NNN lease property.

Property profile
Verified
Property type Drive through restaurants
Use group DRIVE-THRU RESTAURANT, FAST FOOD
Year built 1960
Total area 2,984 SF
Lot 0.55 ac (23,958 SF)
Zoning code NONE
APN 040 013 200 040 00
UPID US43-2110541
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Big John Steak & Onion Restaurant
  • Hibachi House Bar & Pub Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
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Owner & transaction history
4021 West Saginaw LLC · 16 yrs held
4021 West Saginaw LLC
since 2010
1 recorded transaction
2010
$267,500
Zoning & alternative use
NONE · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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