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Property profile

515 Washington Ave Saginaw, MI 48607

OFF-MARKET
Commercial real estate
Property ID
US43-1183011
View Sample
59,310 SF 7.5 ac lot Built 1962
Entity Owned 7-yr Hold Absentee Owner ~ Est. High Equity

Property summary

AI-generated overview

This exceptional seven-story office building, located at 515 N Washington Ave in Saginaw, Michigan, 48607, presents a unique investment opportunity. Built in 1962, the 58,211 square foot building offers a variety of office space options, suitable for traditional office setups, creative work environments, co-working spaces, or executive offices. The property sits on seven acres of land and boasts multiple tenancies, with three units currently available on the fourth floor, totaling approximately 2,000 square feet. Individual suites range from 260 to 1,023 square feet, providing flexibility for businesses of various sizes. The building features elevators for convenient access to all seven floors. Currently, 2,043 square feet of space is vacant. Ample parking is available, and the location offers stunning river views. This prime downtown Saginaw location provides excellent visibility and accessibility. The property's versatility and desirable location make it an ideal choice for businesses seeking a prominent presence in the heart of Saginaw. Don't miss this chance to secure your space in this well-established building.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1962
Total area 59,310 SF
Lot 7.5 ac (326,700 SF)
Zoning code RMU
APN 90-20-0-28-7F00-000
UPID US43-1183011

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Charitable Organization Social Service Agency
  • Social Service Agency Charitable Organization
  • Counselor
  • Pharmacy
  • Travel Agency

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.96M
Blend (final) Blend
$510k

Owner & transaction history

since 2018
2 recorded transactions
2018
Price N/A
1969
Price N/A

Zoning & alternative use

RMU · Saginaw, MI

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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