3403 E Genesee Avenue presents the market with a rare opportunity to acquire a sizable retail asset in Saginaw, Michigan, via absolute auction. The freestanding retail building totals 11,096 square feet and was formerly operated as a Rite Aid chain location. The building rests on a 1.28-acre outparcel that is part of a larger shopping center. The parcel is zoned B-1, which opens up a wide range of potential new uses. B-1 stands for local business, which permits uses such as residential, office, retail shops, barbers, beauty salons and service stations, or fast-food use with approval from the City Planning Commission. This building presents a new owner with an immense value-add opportunity by utilizing the business for a new retail concept or through a dynamic lease-up strategy to maximize the property's operational income output. As this asset is being offered to the market via an absolute auction, the first bid will meet the reserve.

3403 E Genesee Avenue is in a prime location to capitalize on immense frontage, traffic, retail synergies, and surrounding demographics. The parcel is nestled between two prominent commercial routes, Hess Avenue and Genesee Avenue, at a lighted intersection. The parking lot is accessible from either route, accommodating customers coming from either direction. Genesee Avenue produces over 5,000 vehicles daily, while Hess Avenue provides an additional 7,000 cars daily. This creates a massive advertisement opportunity via the asset's monument signage at the intersection. This robust traffic has led to a cluster of daily needs tenants surrounding the property, creating immense synergies. Dollar Tree, Family Dollar, Dollar General, McDonald's, and KFC all surround the building, helping draw in daily consumers. Demographics in the area include a robust population of over 78,000 people within a 5-mile radius around the parcel. This demographic base typically spends big each year, netting an overall spend that is expected to be north of $698 million by the end of 2024. This figure will only likely grow over the next five years, setting the table for prolonged retail success in the Saginaw Market.

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