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West Saginaw Plaza 4002 W Saginaw Hwy 64,900 SF 86% Leased Retail Building Lansing, MI 48917 $7,341,613 CAD ($113.12 CAD/SF) 7.56% Cap Rate
Executive Summary
VALUE-ADD RETAIL INVESTMENT OPPORTUNITY
Positioned along the highly established W. Saginaw Highway retail corridor, this 86%-occupied shopping center offers a compelling value-add opportunity through vacancy absorption, tenant mix optimization and the potential to capture higher market rents. Several existing local tenants occupy below-market positions, creating additional long-term upside as ownership enhances the center’s merchandising mix and attracts additional regional and national retailers.
The property features a diverse mix of national, regional and established local operators. Key tenants include Aaron’s, occupying 9,188 SF; SNIPES, occupying 7,000 SF; and Little Caesars, occupying 3,000 SF. These recognizable brands provide established customer traffic and complement the center’s local tenant base.
The property is located within one of Greater Lansing’s largest and most established retail destinations, spanning more than four miles along W. Saginaw Highway. The corridor features a concentration of major national retailers and restaurants, including Meijer, Kroger, Aldi, Target, Burlington, TJ Maxx, Chick-fil-A, Panda Express, Starbucks, Panera Bread and Culver’s, along with hundreds of additional retail, restaurant, service and entertainment businesses.
Excellent visibility and accessibility are supported by approximately 25,362 vehicles per day on W. Saginaw Highway and 17,338 vehicles per day on Waverly Road. The surrounding five-mile trade area includes approximately 117,501 residents and more than 52,000 households, with an average household income of $81,531.
Convenient access to I-496 and I-69 further strengthens the location, providing connectivity throughout Lansing, Delta Township, East Lansing and the broader Greater Lansing region.
INVESTMENT HIGHLIGHTS: 86% occupancy | Value-add leasing potential | Below-market rents | National and regional tenancy | Established retail corridor | 25,362 VPD on W. Saginaw Highway | 117,501 residents within five miles | Convenient I-496 and I-69 access
Property Facts
Amenities
- Bus Line
- Pylon Sign
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
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Aaron's began in 1955 with a lease-to-own model built to make name-brand home products more accessible. The company offers furniture, consumer electronics, home appliances, computers, and televisions through company-operated and franchised stores, along with online shopping. Aaron's serves customers across the United States and Canada and supports purchases with flexible payment options, product service, and repair coverage during the lease term. The company began public trading in 1982 and has remained focused on lease ownership for household goods.
- Dollar Deal
- Retailer
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- FitStop24
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Hydroponics equipment supplier.
- Ingcredible III
- Accommodation and Food Services
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- Jenny Nails
- Services
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- -
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- Accommodation and Food Services
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Little Caesars began in 1959 when Mike and Marian Ilitch opened the first restaurant in suburban Detroit. The company operates as a pizza restaurant chain and franchisor, with menu offerings that include HOT-N-READY pizzas, Detroit-Style Deep Dish, Crazy Bread, wings, and other sides, along with delivery and carryout ordering. The business continues to grow through franchise development across the United States and in international markets, with continued expansion through multi-unit agreements and new openings.
- Ross Medical Educational Ctr
- Educational Services
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- -
- -
- Sip City Nutrition
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- -
- -
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- Retailer
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SNIPES began in 1998 with the opening of its first store in Essen, Germany, and grew from a German streetwear retailer into an international business. The company sells sneakers, urban apparel, and accessories through stores and online channels, with brands and product lines centered on streetwear culture. SNIPES expanded across Europe and entered the United States in 2019, building a broad retail footprint that includes numerous stores in both regions.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | - | ||
| Dollar Deal | Retailer | - | - | - | ||
| FitStop24 | - | - | - | - | ||
| Indoor Grow Supply | - | - | - | - | ||
| Ingcredible III | Accommodation and Food Services | - | - | - | ||
| Jenny Nails | Services | - | - | - | ||
|
|
Accommodation and Food Services | - | - | - | ||
| Ross Medical Educational Ctr | Educational Services | - | - | - | ||
| Sip City Nutrition | - | - | - | - | ||
|
|
Retailer | - | - | - |
Space Availability
- Space
- Size
- Space Use
- Position
- Available
AVAILABLE: Suite 3934: 2,449 SF Suite 4000: 6,540 SF Suites 3934 & 4000 can be combined for a total of 8,989 SF Suite 4018: 2,135 SF (2nd Gen Restaurant Space)
| Space | Size | Space Use | Position | Available |
| 3934/4000/4018 | 2,135-8,989 SF | Retail | - | Now |
3934/4000/4018
| Size |
| 2,135-8,989 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
3934/4000/4018
| Size | 2,135-8,989 SF |
| Space Use | Retail |
| Position | - |
| Available | Now |
AVAILABLE: Suite 3934: 2,449 SF Suite 4000: 6,540 SF Suites 3934 & 4000 can be combined for a total of 8,989 SF Suite 4018: 2,135 SF (2nd Gen Restaurant Space)
Nearby Major Retailers
Property Taxes
| Parcel Number | 040-058-000-011-00 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $2,676,780 CAD |
Property Taxes
Presented by
West Saginaw Plaza | 4002 W Saginaw Hwy
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