Downtown Mixed-Use Commercial
216 W Exchange Street Owosso, MI 48867
For Sale
$325,000
Move-in ready downtown building with retail or office space and a second-floor leased apartment.
Property Size3,166 SF
Price / SF$102.65
Days on Market91
Property Features for 216 W Exchange Street
General Information
- Standard status
- Active
- Size
- 3,166 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1900
Listing Agency:
Kori Shook & Associates
(989) 277-3295
Listed By:
Kori Shook · License #FAAR-125623
(989) 277-3295
Source:
Carolbollo
Added: Apr 24
Changed: Jul 22
Last Checked: Jul 23 at 6:06AM
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 Kori Shook & Associates
Investment Insights
Based on property information with market context.
This mixed-use commercial building offers a main level well suited for retail or office use, with 1,912 square feet plus an additional basement area for storage. The property is described as being in excellent condition and move-in ready.
The second level provides a 1,254-square-foot apartment with two bedrooms and one and a half baths. The apartment is noted as renovated, including a new furnace and A/C, refinished hardwood floors, granite countertops, tiled baths, modern fixtures, and in-unit laundry. The apartment is currently leased through June.
The offering combines flexible commercial space with a residential unit, making it suitable for an owner seeking to maintain income while occupying or leasing the main floor.
The second level provides a 1,254-square-foot apartment with two bedrooms and one and a half baths. The apartment is noted as renovated, including a new furnace and A/C, refinished hardwood floors, granite countertops, tiled baths, modern fixtures, and in-unit laundry. The apartment is currently leased through June.
The offering combines flexible commercial space with a residential unit, making it suitable for an owner seeking to maintain income while occupying or leasing the main floor.
Key Highlights
- Downtown Owosso commercial building built in 1900 with move‑in‑ready retail or office space
- Main floor offers 1,912 SF plus basement storage for additional space
- Second‑floor unit is a 1,254 SF 2‑bedroom, 1.5‑bath apartment
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 | $38.0k | $12.00 |
| − Vacancy | −$3.8k | −$1.20 |
| EGI | $34.2k | $10.80 |
| − OpEx | −$12.8k | −$4.05 |
| NOI | $21.4k | $6.75 |
3,166 SF · lease $12.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Retail
$469.5K
$410.8K – $547.8K
NOI $32,866 @ 7.0% cap · market cap 10.11%
Second Best
Office B
$451.4K
$395.0K – $526.7K
NOI $31,600 @ 7.0% cap · market cap 9.72%
Theoretical Best
Office A
$603.6K
$528.2K – $704.2K
NOI $42,253 @ 7.0% cap · market cap 13.00%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Trethewey C a DPM
Physician
Studio 52 Frame ...
(Bike/Boat/Book/etc) Store
Key to Owosso Mural
Resort
Hi-Quality Glass
Hardware & Home Improvement
Kori Shook & Associates
Real Estate Agency
FAQs
What type of property is this?
Live-work space - Move-in ready downtown building with retail or office space and a second-floor leased apartment.
Where is this live-work space located?
The property is located at 216 W Exchange Street Owosso, MI.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Downtown Owosso commercial building built in 1900 with move‑in‑ready retail or office space; Main floor offers 1,912 SF plus basement storage for additional space; Second‑floor unit is a 1,254 SF 2‑bedroom, 1.5‑bath apartment
