1401 Corunna Ave, Owosso, MI 48867
0.72 acres with utilities and development potential.
- Added:
- Jun 13, 2024
- Days on Market:
- 754
- Last Refresh:
- May 12 at 8:18 pm
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
Listing office Woodworth Commercial - Bronson (989) 723-3711
Listing date Jun 13, 2024
Source Crexi
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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.
- Conveniently located near neighborhoods and businesses.
- Utilities are available to the site.
- Land contract available.
Overview
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $14.4k | $12.00 |
| − Vacancy | −$1.4k | −$1.20 |
| EGI | $13.0k | $10.80 |
| − OpEx | −$4.9k | −$4.05 |
| NOI | $8.1k | $6.75 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Owosso
- County
- Shiawassee
- State
- Michigan
- Longitude
- -84.152675
- Latitude
- 42.988619
