100 Michigan AveSaginaw, MI 48602

Property Details for 100 Michigan Ave

Year built

2010

Lot size

0.36 AC

Property size (Sq ft)

11,388 SF

Zone code

RMU

Property type

Commercial real estate

APN

91-60-0-06-7000-100

APU

91600067000100

Description

This 11,388 square foot, single-story retail building located at 100 S Michigan Ave, Saginaw, MI 48602, is offered for sale at $1,100,000. Built in 2010, the property is situated in the thriving Riverfront Saginaw district and features a multi-tenant occupancy with three tenants, including a major corporate anchor. Huntington Bancshares, a significant regional bank, occupies approximately a quarter of the space and recently extended its lease for ten years, expiring at the end of 2034, and is currently undertaking renovations. The property boasts a 64.1% occupancy rate with a weighted average lease term of 6.5 years. The building's 9,288 square feet of net rentable space commands a price per square foot of $96.59. This value-add investment opportunity benefits from a strong corporate guarantee from Huntington Bancshares and is situated in a rapidly growing area experiencing increased rental rates. The property's location within the vibrant Riverfront Saginaw district places it at the heart of the city's cultural and entertainment scene, attracting significant foot traffic. This presents a compelling opportunity for investors seeking a stable, core retail asset with significant upside potential in a dynamic urban setting. The property's APN is 16-0067-00100. Leases are gross, and the property is not subject to a ground lease.

• Alternative Use

  Use

  Valuation

  Residential

  $2,231,414

  Hospitality

  $2,043,964

  Educational

  $1,700,554

  Medical

  $1,759,038

  Retail

  $2,645,306

Location Insight

City

Saginaw

County

Saginaw

State

Michigan

Latitude

43.4172

Longitude

-83.9644

CBSA code

40980

CBSA name

SAGINAW-SAGINAW TOWNSHIP NORTH, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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