4021 Saginaw HwyLansing, MI 48917

Property Details for 4021 Saginaw Hwy

Year built

1960

Lot size

0.55 AC

Property size (Sq ft)

2,984 SF

Zone code

NONE

Property type

Drive through restaurants

APN

040 013 200 040 00

APU

4001320004000

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $269,558

  6.5%

  $248,823

  7%

  $231,050

• Comparable approach

  Method

  Valuation

  Relative Method

  $244,473

  Geo Method

  $244,473

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $547,441

  Mixed-Use / Specialty

  $222,797

  Hospitality / Lodging

  $130,728

  Office

  $195,289

  Institutional / Educational

  $222,634

  Residential Income

  $260,482

  Multifamily

  $451,776

  Automotive / Energy

  $190,829

  Parking / Income-Based Land

  $90,690.10

  Restaurant / Food Service

  $62,225.90

  Healthcare / Senior Housing

  $254,254

Location Insight

City

Lansing

County

Eaton

State

Michigan

Latitude

42.7406

Longitude

-84.6056

CBSA code

29620

CBSA name

LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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