Downtown Owosso Mixed-Use
For Sale
Contact for pricing
100 N Washington St, Owosso, MI 48867
Four-story building with redevelopment potential in Owosso's Opportunity Zone.
Property Size4,791 SF
Price / SF$114.80
Days on Market1396
Property Features for 100 N Washington St
General Information
Standard status
Active
Size
4,791 SF
Property subtype
Mixed Use, Office, Retail
Zoning
B3-CENTBUS
Occupancy
10%
Building Details
Buildings
1
Stories
4
Listing Agency:
Woodworth Commercial
(989) 723-3711
Listed By:
Leo Deason · License #MI6501405470
Source:
Crexi
Added: Oct 26, 2022
Changed: Aug 16
Last Checked: Aug 20 at 12:19PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Woodworth Commercial
Investment Insights
Based on property information with market context.
This four-story building is located in Downtown Owosso, at the corner of Main Street and N. Washington Street. Each of the four floors offers approximately 4,791 square feet. The building also includes a full finished basement. Large windows on every floor provide natural lighting. Situated in an Opportunity Zone, the property is eligible for multiple grants and rehabilitation options. This property presents a redevelopment opportunity.
Key Highlights
- Prime downtown Owosso location on the corner of Main Street and N. Washington Street
- Located in an Opportunity Zone with potential access to grants and rehabilitation options
- Substantial size: Four stories with approximately 4,791 SF per floor, plus a full finished basement
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$49,735
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.04%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$994,700
$994.7K
Cap Rate 7%
$710,500
$710.5K
Cap Rate 9%
$552,611
$552.6K
Market Conditions
NOI Build-Up for 4,791 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$74.2K $15.48/SF
− Vacancy
−$3.1K −$0.65/SF
EGI
$71.0K $14.83/SF
− OpEx
−$21.3K −$4.45/SF
NOI
$49.7K $10.38/SF
Area
Shiawassee County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$994,700
Cap Rate 7%
$710,500
Cap Rate 9%
$552,611
Alternative Uses
Best Use
Retail
$710.5K
$621.7K – $828.9K
NOI $49,735 @ 7.0% cap · market cap 9.04%
Second Best
Office B
$683.1K
$597.8K – $797.0K
NOI $47,820 @ 7.0% cap · market cap 8.69%
Theoretical Best
Office A
$913.4K
$799.2K – $1.07M
NOI $63,939 @ 7.0% cap · market cap 11.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
834
Businesses Nearby
Explore this area
Business Placement
Demographics for 48867, MI
27,596
Population
12,660
Households
2.2
Avg Household Size
42
Median Age
20%
College-Educated
92%
High-School Grad
136.0 sq mi
ZIP Area
203
Density / Sq Mi
$58,718
Median Household Income
$37,908
Median Earnings
$834
Median Rent
$145,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four-story building with redevelopment potential in Owosso's Opportunity Zone.
Where is this mixed-use property located?
The property is located at 100 N Washington St Owosso, MI.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Prime downtown Owosso location on the corner of Main Street and N. Washington Street; Located in an Opportunity Zone with potential access to grants and rehabilitation options; Substantial size: Four stories with approximately 4,791 SF per floor, plus a full finished basement
