Established Mixed Use Property in Downtown Owosso

Retail-Commercial for Sale
Catylist Listing ID: 30760895
Property Subtypes: Mixed Use
Building Size (RSF): 10,208 SF
Gross Building Area: See Agent
Gross Land Area: 0.12 Acres
Sale Price: $795,000
Unit Price: $77.88 PSF
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 11.13%
Last Updated: 4/27/2022

Overview / Comments

Mixed use building in downtown Owosso, with frontage on W Main Street. Retail suites are currently occupied by Radio Shack and O'Maries Frozen Yogurt and Desserts. Second story currently rented out as AirBnB, but able to be rented as long-term apartments. Located in the heart of downtown Owosso with frontage on W. Main Street.

Financials

Finance Data Year 2021
Real Estate Taxes - Annual($) $11,788 (Annual)
Potential Rental Income $130,800 (Annual)
Gross Operating Income $42,308 (Annual)
Net Operating Income $88,492 (Annual)

Additional Details

Nearest MSA: Lansing-East Lansing
County: Shiawassee
Taxing Authority: City of Owosso
Tax ID/APN: 050-470-023-007-00
Zoning: B3
Property Visibility: Excellent
Largest Nearby Street: W Main Street
Feet of Frontage: 44
Tenancy: Multiple Tenants
Number of Stories: 2

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,902 24,597 27,987
Median Age: 34.99 37.94 38.65
Households: 6,007 10,006 11,374
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