Flex Property with
N 327 N Shiawassee Street Unit SourceFi Corunna, MI 48817
N 327 N Shiawassee Street Unit SourceFi, Corunna, MI, 48817
$200,000
For Sale
$200,000
Main floor workspace includes rear storage, with a three-bedroom apartment upstairs for combined live-and-work use.
Property Size1,910 SF
Price / SF$104.71
Days on Market361
Property Features for N 327 N Shiawassee Street Unit SourceFi
General Information
- Standard status
- Active
- Size
- 1,910 SF
- Property subtype
- Industrial
Listing Agency
(586) 615-6572
Listed by
Smith Street
(586) 615-6572
Source
Xome
Added: Jul 25, 2025 Updated: Jul 19 at 2:14 am Checked: Jul 20 at 1:44 am
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 Smith Street
Investment Insights
Based on property information with market context.
This flex property offers a main floor with over 1,500 square feet of space, along with approximately 500 square feet of rear storage. The exterior has been recently painted, and the back addition features a new flat roof. Interior improvements include a newly permitted HVAC system and some electrical updates, supporting day-to-day business needs.
Upstairs, the property includes a large apartment with three bedrooms and a large bathroom. The layout is suited for occupancy that combines living space with business operations.
Located on N Shiawassee Street in Corunna, MI, the area is described as a growing market between Lansing and Flint. The seller will also consider land contract terms.
Upstairs, the property includes a large apartment with three bedrooms and a large bathroom. The layout is suited for occupancy that combines living space with business operations.
Located on N Shiawassee Street in Corunna, MI, the area is described as a growing market between Lansing and Flint. The seller will also consider land contract terms.
Key Highlights
- Main floor workspace totals 1,500+ sq ft with 500 sq ft rear storage
- Upstairs includes a 3‑bedroom apartment with a large bathroom
- New permitted HVAC plus some electrical updates
Local Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $17.2k | $9.00 |
| − Vacancy | −$636 | −$0.33 |
| EGI | $16.6k | $8.67 |
| − OpEx | −$5.0k | −$2.60 |
| NOI | $11.6k | $6.07 |
1,910 SF · lease $9.00/SF/yr · vacancy 3.70% · expense 30.00%
Alternative Uses
Best Use
Industrial
$165.5K
$144.9K – $193.1K
NOI $11,588 @ 7.0% cap · market cap 5.79%
Second Best
Flex RnD
$149.8K
$131.1K – $174.8K
NOI $10,488 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$364.1K
$318.6K – $424.8K
NOI $25,490 @ 7.0% cap · market cap 12.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Cash2Bitcoin Bitcoin ATM
Atm
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FAQs
What type of property is this?
Flex space - Main floor workspace includes rear storage, with a three-bedroom apartment upstairs for combined live-and-work use.
Where is this flex space located?
The property is located at N 327 N Shiawassee Street Unit SourceFi Corunna, MI.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Main floor workspace totals 1,500+ sq ft with 500 sq ft rear storage; Upstairs includes a 3‑bedroom apartment with a large bathroom; New permitted HVAC plus some electrical updates
