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Former Rite Aid 5050 Gratiot Rd 11,114 SF Retail Building Saginaw, MI 48638 $1,299,000 ($116.88/SF)
Investment Highlights
- Vacant Former Rite Aid - includes all furniture, fixtures, and equipment
- Quick Access to I-75 (63,107 VPD) & I-675 (23,906 VPD)
- High Visibility at the Northwest Corner of M-46 / Gratiot Road & N Center Road (38,393 VPD Combined)
Executive Summary
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 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.
Property Facts Under Contract
Sale Type
Investment or Owner User
Sale Condition
High Vacancy Property
Property Type
Retail
Property Subtype
Drug Store
Building Size
11,114 SF
Building Class
B
Year Built
1999
Price
$1,299,000
Price Per SF
$116.88
Tenancy
Single
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.16
Lot Size
1.60 AC
Zoning
B-3 - Business District
Parking
60 Spaces (5.4 Spaces per 1,000 SF Leased)
Frontage
Amenities
- 24 Hour Access
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 23-12-4-29-1008-000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $595,200 |
Property Taxes
Parcel Number
23-12-4-29-1008-000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$595,200
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Former Rite Aid | 5050 Gratiot Rd
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