Standalone Warehouse with Overhead
For Sale
$399,000
2246 E Main St, Owosso, MI 48867
Standalone warehouse with B-2 zoning, direct M-21 exposure, and a pylon sign.
Property Size3,200 SF
Lot Size1.60 Acres
Price / SF$124.69
Days on Market337
Property Features for 2246 E Main St
General Information
Standard status
Active
Size
3,200 SF
Lot size
1.60 Acres
Property subtype
Industrial
Zoning
B-2
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Clear Height
16 ft
Building Details
Building Size
3,200 SF
Buildings
1
Stories
2
Listing Agency:
NAI Mid-Michigan
Listed By:
Jeffrey Branch · License #6506049327
(517) 899-6368
Source:
Cpix.resimplifi
Added: Oct 1, 2025
Changed: Aug 30
Last Checked: Aug 30 at 4:24PM
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 NAI Mid-Michigan
Investment Insights
Based on property information with market context.
This standalone warehouse building contains 3,200 SF on over 1.6 acres. The facility offers 16-foot ceilings, two 12-foot-tall overhead doors, and B-2 zoning. A road pylon provides on-site identification for the property.
The building fronts M-21, which carries more than 16,000 vehicles per day, and sits across from Home Depot. Its combination of warehouse functionality, overhead access, highway exposure, and commercial zoning supports a range of business uses allowed within the B-2 designation.
The building fronts M-21, which carries more than 16,000 vehicles per day, and sits across from Home Depot. Its combination of warehouse functionality, overhead access, highway exposure, and commercial zoning supports a range of business uses allowed within the B-2 designation.
Key Highlights
- 3,200 SF standalone industrial/warehouse building
- Over 1.6 acres of land
- Two 12‑foot‑tall overhead doors
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,403
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$468,060
$468.1K
Cap Rate 7%
$334,329
$334.3K
Cap Rate 9%
$260,033
$260.0K
Market Conditions
NOI Build-Up for 3,200 SF
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.
Gross rent
$28.8K $9.00/SF
− Vacancy
−$1.3K −$0.40/SF
EGI
$27.5K $8.60/SF
− OpEx
−$4.1K −$1.29/SF
NOI
$23.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$468,060
Cap Rate 7%
$334,329
Cap Rate 9%
$260,033
Alternative Uses
Best Use
Warehouse
$334.3K
$292.5K – $390.1K
NOI $23,403 @ 7.0% cap · market cap 5.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$610.1K
$533.8K – $711.8K
NOI $42,706 @ 7.0% cap · market cap 10.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16 ft
Clear height
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
165
Businesses Nearby
Balanced
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Owosso Mini Storage — 1005 W Main St, Owosso, MI 48867
- First American Self Storage — 103 N Delaney Rd, Owosso, MI 48867
Frequently Asked Questions
What type of property is this?
Warehouse - Standalone warehouse with B-2 zoning, direct M-21 exposure, and a pylon sign.
Where is this warehouse located?
The property is located at 2246 E Main St Owosso, MI.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 3,200 SF standalone industrial/warehouse building; Over 1.6 acres of land; Two 12‑foot‑tall overhead doors
