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Shopping Regional

Saginaw Plaza

4480 Bay Rd, Saginaw, MI 48603

Listing Price: $2,519,000

Cap Rate
7.50%
Gross SF
10,320
Rentable SF
10,320
Price/Gross SF
$244.09
Lot Size
1.76 acres
Year Built
1979

Investment Overview

Saginaw Plaza is a 10,355 square foot building originally constructed in 1979 and located on the southeast corner of the signalized intersection of Bay Road and Schust Road in Saginaw, MI. In 1998, the single tenant building was retrofitted to a plaza as an out lot of a 190,000 square foot regional shopping center anchored by Best Buy, Bed Bath & Beyond and Dunham’s Sporting Goods. The subject investment is 100 percent occupied by six tenants, all on triple net leases reimbursing for taxes, CAM and insurance. Bay Road has an average daily traffic count of 17,023 vehicles. National tenants include LensCrafters, SalonCenric (L’Oreal), Miracle Ear and Jimmy John’s. Within 1.5 miles of the property are over two million square feet of retail, including the Fashion Square Mall (across the street), Kohl’s, Home Depot, Dick’s Sporting Goods, Burlington Coat, Meijer and Walmart. Saginaw, Michigan is located in Saginaw County, 90 miles north of metro Detroit, and has a city population of nearly 50,000 compared to a county population of 190,000. Major employers in the area include: Nexteer Automotive, Covenant HealthCare, Morely Companies, Meijer, Ascension St. Mary’s and Saginaw Valley University. Major economic drivers are automotive manufacturing, semiconductor R&D medical, education and insurance.

Investment Highlights

  • Corner Lot at Signalized Intersection- Two Access Points
  • Located Across from Fashion Square Mall and on Pad
  • All Triple Net Leases Including Administration Fee For Four of Five Tenants
  • 100 Percent Occupied 10,355-Square Foot Regional Strip Center in Saginaw, Michigan
  • Professionally Maintained and Managed Center With No Deferred Maintenance
  • Cross Easement Access to Bed Bath & Beyond, Best Buy, Dunham's Sporting Goods and More

Exclusively Listed By

Shopping Regional

Saginaw Plaza

Listing Price: $2,519,000

Cap Rate
7.50%
Gross SF
10,320
Rentable SF
10,320
Price/Gross SF
$244.09
Lot Size
1.76 acres
Year Built
1979

Investment Highlights

  • Corner Lot at Signalized Intersection- Two Access Points
  • Located Across from Fashion Square Mall and on Pad
  • All Triple Net Leases Including Administration Fee For Four of Five Tenants
  • 100 Percent Occupied 10,355-Square Foot Regional Strip Center in Saginaw, Michigan
  • Professionally Maintained and Managed Center With No Deferred Maintenance
  • Cross Easement Access to Bed Bath & Beyond, Best Buy, Dunham's Sporting Goods and More

Investment Overview

Saginaw Plaza is a 10,355 square foot building originally constructed in 1979 and located on the southeast corner of the signalized intersection of Bay Road and Schust Road in Saginaw, MI. In 1998, the single tenant building was retrofitted to a plaza as an out lot of a 190,000 square foot regional shopping center anchored by Best Buy, Bed Bath & Beyond and Dunham’s Sporting Goods. The subject investment is 100 percent occupied by six tenants, all on triple net leases reimbursing for taxes, CAM and insurance. Bay Road has an average daily traffic count of 17,023 vehicles. National tenants include LensCrafters, SalonCenric (L’Oreal), Miracle Ear and Jimmy John’s. Within 1.5 miles of the property are over two million square feet of retail, including the Fashion Square Mall (across the street), Kohl’s, Home Depot, Dick’s Sporting Goods, Burlington Coat, Meijer and Walmart. Saginaw, Michigan is located in Saginaw County, 90 miles north of metro Detroit, and has a city population of nearly 50,000 compared to a county population of 190,000. Major employers in the area include: Nexteer Automotive, Covenant HealthCare, Morely Companies, Meijer, Ascension St. Mary’s and Saginaw Valley University. Major economic drivers are automotive manufacturing, semiconductor R&D medical, education and insurance.

Exclusively Listed By

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