Restored Building on
For Sale
$549,900
2250 E Main, Owosso, MI 48867
Commercial building on almost 5 acres, move-in ready.
Property Size2,070 SF
Lot Size5.00 Acres
Days on Market186
Property Features for 2250 E Main
General Information
Standard status
Active
Size
2,070 SF
Lot size
5.00 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$5,977
Building Details
Building Size
2,070 SF
Year Built
1919
Listing Agency:
American Associates REALTORS
Listed By:
Debbie Caldwell · License #6501230158
(810) 733-3333
Source:
Elliman
Added: Apr 3
Changed: Oct 4
Last Checked: Oct 5 at 6:39PM
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 American Associates REALTORS
Investment Insights
Based on property information with market context.
This commercial property is located on the highly traveled M-21 and features a restored building on almost 5 acres. The building includes newer windows on the main floor, a newer roof, and newer porch and decking. Updated plumbing and 400 amp electrical service are in place. The furnace was installed in 2018, and central air was installed in 2022. The property also features double hot water heaters and a new well pump. A 25-foot driveway leads to a parking lot with space for 23 to 24 cars. The building includes an upstairs apartment, a full attic space, and a basement with storage space. The last use of the property was as an ice cream shop with drive-through pickup. It is move-in ready and suitable for various businesses, including a bakery, coffee shop, office, or boutique.
Key Highlights
- Prime commercial location on highly traveled M‑21.
- Beautifully restored building on almost 5 acres.
- Move‑in ready condition suitable for various businesses (bakery, coffee shop, office, boutique).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,791
Cap Rate
3.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$415,820
$415.8K
Cap Rate 7%
$297,014
$297.0K
Cap Rate 9%
$231,011
$231.0K
Market Conditions
NOI Build-Up for 2,070 SF
Gross rent
$29.8K $14.40/SF
− Vacancy
−$2.1K −$1.01/SF
EGI
$27.7K $13.39/SF
− OpEx
−$6.9K −$3.35/SF
NOI
$20.8K $10.04/SF
Area
Shiawassee County, MI
Vacancy
7.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$415,820
Cap Rate 7%
$297,014
Cap Rate 9%
$231,011
Alternative Uses
Best Use
Specialty Retail
$297.0K
$259.9K – $346.5K
NOI $20,791 @ 7.0% cap · market cap 3.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$394.7K
$345.3K – $460.4K
NOI $27,626 @ 7.0% cap · market cap 5.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Commercial building on almost 5 acres, move-in ready.
Where is this drive through restaurant located?
The property is located at 2250 E Main Owosso, MI.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Prime commercial location on highly traveled M‑21.; Beautifully restored building on almost 5 acres.; Move‑in ready condition suitable for various businesses (bakery, coffee shop, office, boutique).
