3525 Saginaw StFlint, MI 48505

For Sale
$3,888,800

10,900 SF, 9.9 Years Remaining

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional net-leased retail property, located at 3525 Saginaw St, Burton, MI 48505, offers a compelling investment opportunity. The 10,900 square foot building, constructed in 1998 and renovated in 2019, sits on a 0.929-acre lot and boasts a 100% occupancy rate. Currently leased to Oak Street Health (a CVS Health subsidiary with an S&P rating of BBB and $357.8 billion in revenue), the lease commenced April 15, 2019, and has a remaining term of 9.9 years, expiring October 31, 2034. The lease includes annual rent bumps of 2%, and three 5-year options with the same 2% annual increases. The property generates a strong net operating income (NOI) of $257,785, resulting in a 6.62% cap rate. The asking price is $3,888,800, translating to a price per square foot of $356.77. The property benefits from its high-traffic location on Saginaw Street (19,505 average daily vehicles) and proximity to Interstate 75 (103,713 average daily vehicles). Strong demographics within a 5-mile radius include a population of 131,328 and an average household income of $69,541. Nearby businesses include Kroger, McDonald's, and other national retailers. The property's location between major Michigan cities like Lansing, Ann Arbor, and Detroit further enhances its investment appeal. This is a rare opportunity to acquire a stable, high-performing net-leased asset with a strong tenant and significant remaining lease term.

Highlights

  • 10 years, 3 months remaining lease term with 2% annual rent increases.
  • Corporate guarantee from CVS Health (S&P rating BBB, $357.8B revenue); CVS acquired Oak Street Health in May 2023.
  • High-traffic location on Saginaw Street (19,505 AADT) and proximity to I-75 (103,713 AADT).
  • Strong demographics: 5-mile radius with 131,328 population and $69,541 average household income.
  • Nearby national retailers include Kroger, McDonald's, and others.
  • Convenient location between Lansing, Ann Arbor, and Detroit.

Property Details for 3525 Saginaw St

Property type
Other retail properties, Individual retail properties
Square Feet
10,900 SF
Year Built/Renovated
1998/2019
Lot Size (sq. ft)
40,467 SF

Location Insight

City
Flint
County
Genesee
State
Michigan
Latitude
43.0477282
Longitude
-83.6942138
3525 Saginaw St, Flint, Michigan

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3525 Saginaw St
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