50,061 SF Medical Office Building | 42% Occupied

Highlights:

• Three-story, 50,061 SF medical office asset on a 5.61-acre site with 335 surface parking spaces at a 10 per 1,000 SF ratio
• Existing Tenancy contributes to operating expenses with significant upside
• Flexible floor plate supports single offices through a 15,300 SF contiguous block, with prior medical, radiology, and MRI infrastructure in place
• Fully renovated in 2024 across common areas, interiors, and building systems, reducing near-term capital needs for a new owner
• Excellent frontage and visibility along a high-traffic commercial corridor in the Fashion Square retail and medical node

Description:

Copy and paste this link to view full auction details on RI Marketplace: https://rimarketplace.com/auction/3158/office/saginaw/mi

4200 Fashion Square Boulevard is a three-story, 50,061-square-foot medical/office building located in the established Fashion Square commercial node of Saginaw, Michigan. The ownership of the facility completed a full renovation in May 2024, modernizing the common areas, updating interiors, and refreshed building systems. This is a well-built 1980-vintage building set on a generous 5.61-acre site with 335 surface parking spaces. This provides a ratio of 10 per 1,000 square feet that is well above typical suburban medical office benchmarks.

The property sits along a high-visibility corridor with excellent frontage and strong daily traffic counts, offering convenient access for patients and staff across the Saginaw, Midland, and Bay City tri-city region. Access to a full service intersection with I-75, a major interstate freeway, is quick, just minutes away. The location places tenants within the Flint-Saginaw-Bay City MSA and serves a daytime employment base of more than 34,000 within a three-mile radius. Currently 42% occupied the tenants include Memorial Healthcare and IWG Regus who recently had a full customized design built out for the Shared Office Suites (a co-partnership arrangement).

With a fully renovated floor plate, flexible suite sizes from single offices to a 15,300-square-foot contiguous block, and a medical office build-out, including former radiology and MRI improvements, the property offers a new owner meaningful leasing upside. The combination of healthcare-anchored tenancy, recent capital investment, parking depth, and close regional demographics create a compelling value-add medical/office opportunity in one of Michigan's primary secondary markets.