Restaurant Retail Building with
For Sale
$549,900
2250 E Main St, Owosso, MI 48867
Move-in-ready restaurant building with newer exterior systems and parking for about two dozen vehicles.
Property Size2,070 SF
Price / SF$265.65
Days on Market162
Property Features for 2250 E Main St
General Information
Standard status
Active
Size
2,070 SF
Property subtype
Retail, Multifamily
Zoning
C
Building Details
Building Size
2,070 SF
Listing Agency:
American Associates REALTORS
Listed By:
Randall A. Haney · License #6502136257
(810) 691-4124
Source:
Cpix.resimplifi
Added: Mar 30
Changed: Aug 14
Last Checked: Sep 7 at 4:45AM
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 restored, move-in-ready commercial building is well suited for restaurant or other storefront operations. Updates include newer windows on the main floor, a newer roof, a newer porch and decking, updated plumbing, and a 400 amp electrical service. The property also features central air (installed 2022) and a furnace from 2018, along with double hot water heaters and a new well pump. The interior includes a basement with ample storage, a full attic, and an upstairs apartment.
The building sits on nearly 5 acres on the main, highly traveled M-21. A 25-foot driveway leads to a parking lot that accommodates about 23 to 24 cars.
The most recent use was an ice cream shop with drive-through pickup. The layout supports similar concepts such as a small restaurant, ice cream shop, coffee shop, or bakery.
The building sits on nearly 5 acres on the main, highly traveled M-21. A 25-foot driveway leads to a parking lot that accommodates about 23 to 24 cars.
The most recent use was an ice cream shop with drive-through pickup. The layout supports similar concepts such as a small restaurant, ice cream shop, coffee shop, or bakery.
Key Highlights
- About 5 acres right on M‑21 (highly traveled main road) in downtown Corunna, MI
- Restored building with newer windows (main floor) and newer roof, porch, and decking
- Updated plumbing plus 400‑amp electrical service, with furnace (2018) and central air (2022)
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
$21,488
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
3.91%
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%
$429,760
$429.8K
Cap Rate 7%
$306,971
$307.0K
Cap Rate 9%
$238,756
$238.8K
Market Conditions
NOI Build-Up for 2,070 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
$32.0K $15.48/SF
− Vacancy
−$1.3K −$0.65/SF
EGI
$30.7K $14.83/SF
− OpEx
−$9.2K −$4.45/SF
NOI
$21.5K $10.38/SF
Area
Shiawassee County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
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%
$429,760
Cap Rate 7%
$306,971
Cap Rate 9%
$238,756
Alternative Uses
Best Use
Retail
$307.0K
$268.6K – $358.1K
NOI $21,488 @ 7.0% cap · market cap 3.91%
Second Best
Specialty Retail
$297.0K
$259.9K – $346.5K
NOI $20,791 @ 7.0% cap · market cap 3.78%
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
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 Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Move-in-ready restaurant building with newer exterior systems and parking for about two dozen vehicles.
Where is this conventional restaurant located?
The property is located at 2250 E Main St 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: About 5 acres right on M‑21 (highly traveled main road) in downtown Corunna, MI; Restored building with newer windows (main floor) and newer roof, porch, and decking; Updated plumbing plus 400‑amp electrical service, with furnace (2018) and central air (2022)
