Corner Lot with
For Sale
Contact for pricing
1401 Corunna Ave, Owosso, MI 48867
0.72 acres with utilities and development potential.
Property Size1,200 SF
Lot Size0.72 Acres
Price / SF$79.17
Days on Market846
Property Features for 1401 Corunna Ave
General Information
Standard status
Active
Size
1,200 SF
Lot size
0.72 Acres
Property subtype
Industrial, Mixed Use, Land
Zoning
B-1/R-1
Listing Agency:
Woodworth Commercial
Listed By:
Ryan Calhoun · License #6501440781
(989) 723-3711
Source:
Crexi
Added: Jun 13, 2024
Changed: Sep 14
Last Checked: Oct 5 at 5:13PM
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 property consists of four parcels totaling 0.72 acres, situated on the corner of M-71/Corunna Ave and Abrey St in Owosso. It offers significant visibility with over 100 feet of frontage. The site includes a 1,000-square-foot barn equipped with electric, gas, water, and sewer connections. The location is convenient to surrounding neighborhoods and businesses. This property presents a development opportunity for uses such as a small office or a location for contractors or lawn maintenance services. Land contract options are available.
Key Highlights
- 0.72 acre corner lot with over 100' frontage offers high visibility.**
- Barn (1,000 SF) equipped with electric, gas, water, and sewer.
- Development opportunity for small office or contractor/lawn maintenance business.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,100
Cap Rate
8.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$162,000
$162.0K
Cap Rate 7%
$115,714
$115.7K
Cap Rate 9%
$90,000
$90.0K
Market Conditions
NOI Build-Up for 1,200 SF
Gross rent
$14.4K $12.00/SF
− Vacancy
−$1.4K −$1.20/SF
EGI
$13.0K $10.80/SF
− OpEx
−$4.9K −$4.05/SF
NOI
$8.1K $6.75/SF
Area
Shiawassee County, MI
Vacancy
10.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$162,000
Cap Rate 7%
$115,714
Cap Rate 9%
$90,000
Alternative Uses
Best Use
Mixed Use
$115.7K
$101.3K – $135.0K
NOI $8,100 @ 7.0% cap · market cap 8.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$228.8K
$200.2K – $266.9K
NOI $16,015 @ 7.0% cap · market cap 16.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
257
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Commercial land - 0.72 acres with utilities and development potential.
Where is this commercial land located?
The property is located at 1401 Corunna Ave Owosso, MI.
What is the asking price?
The asking price for this property is $95,000.
What are key features of this property?
This property features: 0.72 acre corner lot with over 100' frontage offers high visibility.**; Barn (1,000 SF) equipped with electric, gas, water, and sewer.; Development opportunity for small office or contractor/lawn maintenance business.
