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Riverwood Crossing Retail Investment Property

1643 E M 21, Owosso, MI 48867

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For Sale

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Fully leased retail center on a busy retail corridor.

Type:Retail

Property size:

50,508 SF

Price / SF:

$119/SF

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and status of this listing

Harry Lancz

Real Estate License ID: LA Brok.995691162

HighLights

100% Leased: Provides immediate income stream.
NNN Leases: Minimizing landlord responsibilities.
Strong Tenant Mix: Includes national (Harbor Freight, Dollar Tree, Jet's Pizza), regional, and local tenants.
High‑Traffic Location: Shadows a newly remodeled Walmart Super Center on Owosso's busiest retail corridor (M‑21).
Long‑Term Tenants: Property enjoys a mix of long‑term tenants.
Established Property: Built in 1992, indicating an established presence in the market.

Learn more

For Sale

Contact for pricing

Fully leased retail center on a busy retail corridor.

Type:Retail

Property size:

50,508 SF

Price / SF:

$119/SF

Added:: Jan 27, 2022
Days on Market:: 1621
Last Refresh:: Jul 4 at 4:07 pm

Property Features for 1643 E M 21

General Information

Standard status: Active
Size: 50,508 SF
Property subtype: Retail

Building Details

Year Built: 1992

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Contact an agent

Harry Lancz

Listing office Professional Property Advisors

Listing date Jan 27, 2022

Source Crexi

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 Professional Property Advisors

HighLights

100% Leased: Provides immediate income stream.
NNN Leases: Minimizing landlord responsibilities.
Strong Tenant Mix: Includes national (Harbor Freight, Dollar Tree, Jet's Pizza), regional, and local tenants.
High‑Traffic Location: Shadows a newly remodeled Walmart Super Center on Owosso's busiest retail corridor (M‑21).
Long‑Term Tenants: Property enjoys a mix of long‑term tenants.
Established Property: Built in 1992, indicating an established presence in the market.

Overview

Riverwood Crossing is a fully leased retail property located on M-21, Owosso's busiest retail corridor. The property shadows a newly remodeled Walmart Super Center. The tenant mix includes national, regional, and local businesses such as Harbor Freight, Dollar Tree, ATI Physical Therapy, Magoo’s Pet Outlet, and Jet's Pizza. The property size is 50508 square feet. All tenants operate under NNN leases.

Local Financial Insights For Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$781.9k	$15.48
− Vacancy	−$32.8k	−$0.65
EGI	$749.0k	$14.83
− OpEx	−$224.7k	−$4.45
NOI	$524.3k	$10.38

50,508 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 30.00%

Alternative Uses

Best Use

Retail

$7.49M

$6.55M – $8.74M (±1% cap)

NOI $524,318 @ 7.0% cap · market cap 8.71%

Second Best

—

no second resolved use

Theoretical Best

Office A

$9.63M

$8.43M – $11.23M (±1% cap)

NOI $674,066 @ 7.0% cap · market cap 11.20%

Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Current Use by Public Records

Harbor Freight Tools Building Supply Original Farmer's Market Grocery & Convenience Store

Suggested Use

Location Insight

Map
Local Demand

City: Owosso
County: Shiawassee
State: Michigan
Longitude: -84.139447
Latitude: 42.997914

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For sale
Shopping centers
MI
Owosso
48867
1643 E M 21

What type of property is this?

Shopping center - Fully leased retail center on a busy retail corridor.

Where is this shopping center located?

The property is located at 1643 E M 21 Owosso, MI.

What is the asking price?

The asking price for this property is $6,019,256.

What are key features of this property?

This property features: 100% Leased: Provides immediate income stream.; NNN Leases: Minimizing landlord responsibilities.; Strong Tenant Mix: Includes national (Harbor Freight, Dollar Tree, Jet's Pizza), regional, and local tenants.