White-Box Flex Industrial
1500 Mcmillan Road Owosso, MI 48867
1500 Mcmillan Road, Owosso, MI, 48867
$595,000
For Sale
$595,000
COMMERCIAL - Owosso, MI
Property Size6,000 SF
Lot Size3.17 Acres
Price / SF$99.17
Days on Market386
Property Features for 1500 Mcmillan Road
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active
- APN
- 050-553-000-008-00
- Size
- 6,000 SF
- Lot size
- 3.17 Acres
Utilities
- Water source
- Public
Building Details
- Year built
- 2000
- Roof type
- Shingle
Listing Agency
Pilot Property Group - Residential LLC
(586) 254-0900
38600 Van Dyke Ste 325, Shelby Twp, MI
Listed by
Anthony Rubino · License #6502425251
(586) 873-5419
Added: Jun 30, 2025 Updated: Jun 3 at 5:41 pm Checked: Jul 20 at 4:06 pm
MLS# 50180127
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This sale offering features a white-box commercial building designed to be ready for a new tenant’s or buyer’s buildout. The space includes radiant ceiling heat and is insulated with 6 inches of insulation. The parking area has been recently resurfaced, supporting day-to-day access for staff and visitors.
The property is located at 1500 McMillan Road in Owosso, Michigan, on a 3.17-acre lot. The building backs up to city-owned property, providing an additional rear boundary condition for how the site can be utilized.
From an operating standpoint, the configuration is well-suited for users seeking an industrial or flex-style footprint with a heating system already in place. The listing also states the property qualifies for cannabis grow or processing facility use, making it a relevant option for qualifying cannabis operators who want to start with a ready-to-customize interior and an established, maintained parking area.
The property is located at 1500 McMillan Road in Owosso, Michigan, on a 3.17-acre lot. The building backs up to city-owned property, providing an additional rear boundary condition for how the site can be utilized.
From an operating standpoint, the configuration is well-suited for users seeking an industrial or flex-style footprint with a heating system already in place. The listing also states the property qualifies for cannabis grow or processing facility use, making it a relevant option for qualifying cannabis operators who want to start with a ready-to-customize interior and an established, maintained parking area.
Key Highlights
- Built in 2000
- Public water supply
- Shingle roof
Local Financial Insights For Industrial
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 | $54.0k | $9.00 |
| − Vacancy | −$2.0k | −$0.33 |
| EGI | $52.0k | $8.67 |
| − OpEx | −$15.6k | −$2.60 |
| NOI | $36.4k | $6.07 |
6,000 SF · lease $9.00/SF/yr · vacancy 3.70% · expense 30.00%
Alternative Uses
Best Use
Industrial
$520.0K
$455.0K – $606.7K
NOI $36,401 @ 7.0% cap · market cap 6.12%
Second Best
Flex RnD
$470.7K
$411.8K – $549.1K
NOI $32,947 @ 7.0% cap · market cap 5.54%
Theoretical Best
Office A
$1.14M
$1.00M – $1.33M
NOI $80,074 @ 7.0% cap · market cap 13.46%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - White-box flex/industrial building with radiant ceiling heat and recently resurfaced parking.
Where is this flex space located?
The property is located at 1500 Mcmillan Road Owosso, MI.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Built in 2000; Public water supply; Shingle roof
