Flex Space with Overhead
For Sale
$349,900
2246 E Main St, Owosso, MI 48867
Separate office and shop/warehouse areas provide distinct spaces for administrative and work activities.
Property Size2,450 SF
Price / SF$142.82
Days on Market11
Property Features for 2246 E Main St
General Information
Standard status
Active
Size
2,450 SF
Property subtype
Commercial
Building Details
Year Built
1985
Listing Agency:
Kori Shook & Associates
Listed By:
John Hankerd
(989) 277-9003
Source:
Findmichiganhomelistings
Added: Sep 26
Changed: Oct 1
Last Checked: Oct 5 at 7:17PM
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 flex property contains approximately 2,450 square feet, with more than 1,800 square feet devoted to shop and warehouse space and over 500 square feet of office area. The shop has approximately 18-foot ceilings and two overhead doors. Storage is also available above the office section.
The property occupies approximately 1.65 acres along the M-21 commercial corridor in Owosso, near State Road. Its configuration combines office, shop, warehouse, and additional storage areas within one building.
The property occupies approximately 1.65 acres along the M-21 commercial corridor in Owosso, near State Road. Its configuration combines office, shop, warehouse, and additional storage areas within one building.
Key Highlights
- Approximately 2,450 square feet of building area
- More than 1,800 square feet of shop/warehouse space and over 500 square feet of office space
- Shop features approximately 18‑foot ceilings and two 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.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
165
Businesses Nearby
Under-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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Separate office and shop/warehouse areas provide distinct spaces for administrative and work activities.
Where is this flex space located?
The property is located at 2246 E Main St 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: Approximately 2,450 square feet of building area; More than 1,800 square feet of shop/warehouse space and over 500 square feet of office space; Shop features approximately 18‑foot ceilings and two overhead doors
