REO: Riverview Plaza | Value-Add Multi-Tenant Retail Center

 Near-Downtown Location with River Frontage Situated directly across the Saginaw River from Downtown Saginaw, steps from the Dow Event Center, transit, and municipal services.

• Immediate I-675 Visibility & Access Freeway-visible site just blocks from an I-675 interchange with direct connectivity to I-75, Michigan's primary north-south commercial corridor.
• In-Place NOI of $142,250 at 58% Occupancy Stabilized income from 9 tenants including Citi Trends, Aaron's, and Advance America with a weighted rent roll generating $417,962 annually.
• 42% Vacancy Offers Meaningful Lease-Up Upside Four vacant suites totaling 37,270 SF — including a 21,100 SF anchor space — provide a clear path to significantly higher NOI.
• Flexible MU-4 Zoning Supports Broad Reuse Mixed-Use 4 designation permits office, residential, hotel, retail, medical, school, and R&D uses, unlocking long-term redevelopment optionality.
• Downtown Saginaw Investment Wave Underway The Medical Diamond initiative, CMU College of Medicine expansion, and a $35M mixed-use project are driving renewed momentum in the surrounding market.

Offering Summary

Friedman Real Estate, in conjunction with RI Marketplace, is pleased to offer the REO auction sale of Riverview Plaza, an ±88,774 SF multi-tenant retail strip center situated on ±6.75 acres at 240-320 W Genesee Avenue in Saginaw, Michigan — directly across the Saginaw River from Downtown Saginaw and within blocks of an I-675 interchange providing convenient access to I-75. The Property is currently 58% occupied by nine tenants including national and regional names such as Citi Trends, Aaron's, and Advance America, generating in-place NOI of $142,250 on gross income of $538,898. Four vacant suites totaling 37,270 SF — including a 21,100 SF anchor-ready space — represent a clear lease-up opportunity for a buyer seeking to drive NOI well above current levels. Zoned MU-4, the site also supports a wide range of alternative uses including residential, hotel, medical, and office, providing meaningful redevelopment optionality within a market experiencing active public and private investment. With two road frontages on Genesee Avenue and Davenport Avenue, ±400 surface parking spaces, and freeway visibility, the Property offers an investor the chance to acquire a well-positioned retail asset at a reset basis in Michigan's Great Lakes Bay Region.

Auctioneer: Jerry Helmer c/o Fisher Auction Company Inc. License: 6504064915. Starting Bid: $200,000