Add Listing
    For Lease
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    215 N Water St Owosso, MI 48867

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Co-op office suites in remodeled downtown Owosso Armory building.

    Type:Office
    Property size:
    900 SF
    Added:
    Feb 23, 2024
    Days on Market:
    798
    Last Refresh:
    Mar 17 at 1:20 pm

    Property Features for 215 N Water St

    General Information

    Standard status
    Active
    Size
    900 SF
    Property subtype
    Office

    Building Details

    Year Built
    1915

    Spaces For Lease

    at 215 N Water St Contact us

    Cubicles $36 /Mo

    Size
    100 SF
    Type
    Office
    Co-working cubicle spaces on the second floor, available for month-to-month leases....
    show more
    Contact us

    200 $23 /Mo

    Size
    518 SF
    Type
    Office
    Second floor office suite with 2 private offices and waiting/reception area. Access...
    show more
    Contact us

    We can help!

    Listing Contact
    Ryan Calhoun
    Ryan Calhoun

    Listing agent Ryan Calhoun License #6501440781

    Listing office Woodworth Commercial

    Listing date Feb 23, 2024

    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 Woodworth Commercial

    Overview

    Downtown Owosso Armory Co-op Suites

    The iconic downtown Owosso Armory building offers co-op office suites. The building has been remodeled to accommodate co-op suites and co-working spaces, while preserving its original charm. Overlooking the Shiawassee River, the property features large conference rooms with ample natural lighting, a balcony, and other modern amenities. Available spaces range from 100-square-foot single cubicles for short-term use to 900-square-foot suites with multiple offices and reception areas. This property is suitable for various office space needs.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Benefits Your Way Insurance Agency J&M Education-CPR,BLS,ACLS,PALS Training Center Arc Shiawassee County ... Social Service Agency Kenneth Williams - Financial ... Financial Advisor Downtown Owosso Farmers ... Specialty Food Shop

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Owosso
    County
    Shiawassee
    State
    Michigan
    Longitude
    -84.171163
    Latitude
    42.995997

    Nearby Similar for Lease

    • Contact for pricing

      Retail Space on Main Street

      Retail spaces available at 1660 & 1700 E. Main Street.
      1660 & 1700 E. Main Street | Owosso, MI 48306
      View Details
    • $16 SF/Yr

      Updated Office Space by River

      Move-in ready office campus with modern upgrades and ample parking.
      621 W Oliver St, Owosso, MI
      View Details
    • Contact for pricing

      Retail Space in Primary Corridor

      Retail space available in high-traffic Owosso location.
      1475-1501 E Main St, Owosso, MI
      View Details
    • Contact for pricing

      Downtown Owosso Commercial Space Available

      Versatile commercial space in downtown Owosso, suitable for various businesses.
      211 N Ball St, Owosso, MI 48867
      View Details
    • Contact for pricing

      Retail Space in Primary Corridor

      Retail space available in high-traffic Owosso location.
      1311-1501 East Main Street, Owosso, MI
      View Details
    • Contact for pricing

      Retail Space in Primary Corridor

      Retail space in a high-traffic area near Wal-Mart.
      1351-1361 E M 21, Owosso, MI
      View Details
    • Contact for pricing

      Downtown Retail Suite For Rent

      Retail suite in Owosso's walkable downtown district.
      114-116 W Main St, Owosso, MI 48867
      View Details
    • Contact for pricing

      Downtown Owosso Medical Office Space

      Medical office space in downtown Owosso, excellent visibility.
      208 North Shiawassee St, Owosso, MI 48867
      View Details
    • Contact for pricing

      Remodeled Industrial Space Available

      Remodeled industrial building with open space and natural light.
      804 W Main St, Owosso, MI 48867
      View Details
    • Contact for pricing

      Office Space Available For Rent

      Office space available, ranging from 400 to 8,000 SqFt.
      120 W Exchange St, Owosso, MI 48867
      View Details

    FAQs

    What type of property is this?
    Coworking space - Co-op office suites in remodeled downtown Owosso Armory building.
    Where is this coworking space located?
    The property is located at 215 N Water St Owosso, MI.
    What are key features of this property?
    This property features: Iconic, remodeled Armory building in downtown Owosso.; Co‑op office suites and co‑working space available.; Overlooks the Shiawassee River.
    (989) 723-3711 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Ryan Calhoun
    Ryan Calhoun
    Real Estate License ID: 6501440781
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    215 N Water St, Owosso, MI 48867

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!