Professional Office
312 N Water St, Owosso, MI 48867
For Sale
$265,000
Flexible office layout with private rooms, collaborative workspace, a conference room, kitchenette, and designated parking.
Property Size2,030 SF
Price / SF$130.54
Days on Market53
Property Features for 312 N Water St
General Information
Standard status
Size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Year Built
Buildings
Building Size
Abandoned
Listing Agency:
The Home Office Realty LLC
Listed By:
Morgan Beilfuss · License MI #6501277052
(989) 277-7860
Source:
Elliman
Added: Sep 19
Changed: Nov 2
Last Checked: Nov 8 at 6:12AM
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 The Home Office Realty LLC
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Investment Insights
Based on property information with market context.
Constructed in 1994, this 2,030-square-foot office building offers a practical professional setting with a defined entry porch, lobby, private offices, open work areas, and a conference room. The interior also includes a secretarial station with built-in desk, kitchenette, two half baths, solid wood doors, and Pella windows.
The property is located at 312 N Water St in downtown Owosso, across from the Shiawassee River walking path and near the Cone Zone. Designated parking is included. Walk Score is 17, characterized as Car-Dependent, while BikeScore is 32, characterized as Somewhat Bikeable.
The property is located at 312 N Water St in downtown Owosso, across from the Shiawassee River walking path and near the Cone Zone. Designated parking is included. Walk Score is 17, characterized as Car-Dependent, while BikeScore is 32, characterized as Somewhat Bikeable.
Key Highlights
- 2,030‑square‑foot office building constructed in 1994
- Private offices, open workspace, conference room, and lobby
- Built‑in secretarial desk and dedicated work area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,262
Cap Rate
7.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$405,240
$405.2K
Cap Rate 7%
$289,457
$289.5K
Cap Rate 9%
$225,133
$225.1K
Market Conditions
NOI Build-Up for 2,030 SF
Gross rent
$34.6K $17.04/SF
− Vacancy
−$7.6K −$3.73/SF
EGI
$27.0K $13.31/SF
− OpEx
−$6.8K −$3.33/SF
NOI
$20.3K $9.98/SF
Area
Shiawassee County, MI
Vacancy
21.90%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$405,240
Cap Rate 7%
$289,457
Cap Rate 9%
$225,133
Alternative Uses
Best Use
Office B
$289.5K
$253.3K – $337.7K
NOI $20,262 @ 7.0% cap · market cap 7.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$387.0K
$338.7K – $451.5K
NOI $27,092 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,098
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Flexible office layout with private rooms, collaborative workspace, a conference room, kitchenette, and designated parking.
Where is this office building located?
The property is located at 312 N Water St Owosso, MI.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: 2,030‑square‑foot office building constructed in 1994; Private offices, open workspace, conference room, and lobby; Built‑in secretarial desk and dedicated work area
