Flex Building with Overhead
2246 E Main, Owosso, MI 48867
For Sale
$349,900
Shop and office areas are complemented by storage above the office section.
Property Size2,450 SF
Lot Size1.65 Acres
Price / SF$142.82
Days on Market46
Property Features for 2246 E Main
General Information
Standard status
Size
Lot size
Property subtype
Warehouse & Industrial
Clear Height
Warehouse Space
Office Build-Out
Additional Details
Highway Access
Amenities
Fence Owned
Building Details
Year Built
Buildings
Building Size
Listing Agency:
Kori Shook & Associates
(989) 720-4242
Listed By:
John Hankerd
(989) 277-9003
Source:
Jabachler
Added: Sep 28
Changed: Nov 12
Last Checked: Nov 11 at 11:28PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,450-square-foot flex building combines more than 1,800 square feet of shop and warehouse area with over 500 square feet of office space. The shop has approximately 18-foot ceilings and two overhead doors, while additional storage sits above the office area. Built in 1985, the property occupies approximately 1.65 acres.
The building is on the M-21 commercial corridor near State Road in Owosso, Michigan, with access to major routes.
The building is on the M-21 commercial corridor near State Road in Owosso, Michigan, with access to major routes.
Key Highlights
- 2,450‑square‑foot building on approximately 1.65 acres
- Over 1,800 square feet of shop and warehouse area, plus more than 500 square feet of office space
- Shop has approximately 18‑foot ceilings and two large overhead doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,918
Cap Rate
5.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$358,360
$358.4K
Cap Rate 7%
$255,971
$256.0K
Cap Rate 9%
$199,089
$199.1K
Market Conditions
NOI Build-Up for 2,450 SF
Gross rent
$22.1K $9.00/SF
− Vacancy
−$970 −$0.40/SF
EGI
$21.1K $8.60/SF
− OpEx
−$3.2K −$1.29/SF
NOI
$17.9K $7.31/SF
Area
Shiawassee County, MI
Vacancy
4.40%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$358,360
Cap Rate 7%
$255,971
Cap Rate 9%
$199,089
Alternative Uses
Best Use
Warehouse
$256.0K
$224.0K – $298.6K
NOI $17,918 @ 7.0% cap · market cap 5.12%
Second Best
Industrial
$212.3K
$185.8K – $247.7K
NOI $14,864 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$467.1K
$408.7K – $545.0K
NOI $32,697 @ 7.0% cap · market cap 9.34%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
18 ft
Clear height
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48867, MI
27,596
Population
12,660
Households
2.2
Avg Household Size
42
Median Age
20%
College-Educated
92%
High-School Grad
136.0 sq mi
ZIP Area
203
Density / Sq Mi
$58,718
Median Household Income
$37,908
Median Earnings
$834
Median Rent
$145,600
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Shop and office areas are complemented by storage above the office section.
Where is this flex space located?
The property is located at 2246 E Main Owosso, MI.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 2,450‑square‑foot building on approximately 1.65 acres; Over 1,800 square feet of shop and warehouse area, plus more than 500 square feet of office space; Shop has approximately 18‑foot ceilings and two large overhead doors
