Investment Overview

Marcus & Millichap is pleased to present this vacant Former Rite Aid located at 5050 Gratiot Road in Saginaw, Michigan. The property is situated on a 1.6-acre corner lot and was constructed as in 1999. This vacant building offers a prime leasing or development opportunity for an investor. The subject property is well-positioned with high visibility at the northwest corner of M-46 / Gratiot Road (22,499 VPD) and N Center Road (15,894 VPD). The building is located next to White Pine Middle School, which has an enrollment of 940 students in grades 6-8. Arrowood Elementary (437 students, K-5) and Arthur Hill High School (671 students, 9-12) are also close by. The surrounding area features a thriving retail market, with over 8.1 million square-feet of retail space within a five-mile radius. Just five miles north of the property is Saginaw’s primary retail corridor, home to major national retailers including Cabela’s, Home Depot, Lowe’s, Meijer, Target, Kohl’s, Walmart, Sam’s Club, and numerous others. This Former Rite Aid benefits from its proximity to major healthcare institutions, automotive employers, and a well-established university, making it a highly attractive investment. Within a five-mile radius, the area is home to three major hospitals: Covenant Health Medical Centers, Saginaw VA Medical Center, and MyMichigan Medical Center Saginaw. Covenant Health Medical Centers is Michigan’s 6th largest hospital, with 643 beds and 4,800 employees. Saginaw VA Medical Center serves veterans with 81 beds and 982 employees, while MyMichigan Medical Center Saginaw is a 268-bed Level II Trauma Center employing over 2,000 healthcare professionals. The strong healthcare presence in the area ensures a high daytime population, supporting demand for retail, medical, and service-based businesses. The Saginaw region is home to several major automotive employers, further strengthening the local economy. Means Industries, located four miles away, employs 832 people and specializes in automotive stamping. Just seven miles from the property, GM Saginaw Metal Casting Operations (SMCO) operates a 1.9 million square-foot facility, producing critical components for Chevrolet, Cadillac, and GMC vehicles, and employing 332 workers. Just beyond Interstate-75 is Nexteer Automotive, 3.1 million square-foot complex that includes six manufacturing plants and its U.S. Technical Center. Nexteer’s Saginaw is the company’s largest location and employs 5,000 professionals specializing in cutting-edge automotive engineering and manufacturing. Adding to the area’s economic vitality is Saginaw Valley State University (SVSU), located nine miles from the property. SVSU enrolls over 7,000 students across 100+ undergraduate and graduate programs and employs 1,000 faculty and staff, contributing to a steady flow of consumers and professionals. The demographics surrounding the property further enhance its investment appeal. Within a five-mile radius, there are 97,515 residents, with an average household income exceeding $68,700. Within one mile, the average household income is even higher, at $87,506, demonstrating the strong consumer base and spending power in the immediate market. With strong employment sectors, robust consumer spending power, and steady demand for commercial space, this property presents an exceptional opportunity for investors seeking long-term growth in a dynamic market.