Multi-Use Automotive and Office
For Sale
$900,000
727-731 Main St, Owosso, MI 48867
Three parcels include an auto repair/auto sales building, an office with an upstairs rental unit, and an included vacant lot.
Property Size4,634 SF
Price / SF$194.22
Days on Market154
Property Features for 727-731 Main St
General Information
Standard status
Active
Size
4,634 SF
Property subtype
General Commercial
Additional Details
Road Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$8,667
Amenities
3
213' x 150'
Building Details
Year Built
1959
Listing Agency:
Richard Selleck Agency
(989) 725-2188
Listed By:
Mike Selleck · License #650210427
Source:
Xome
Added: Apr 7
Changed: Sep 1
Last Checked: Sep 7 at 5:22AM
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 Richard Selleck Agency
Investment Insights
Based on property information with market context.
This for-sale offering includes three parcels along M-21, comprising multiple multi-use buildings and a vacant lot included with the sale. One building at 731 W. Main St. is used for auto repair and auto sales and contains 2,522 sq. ft. Another building at 737 W. Main St. provides office space with a two-bedroom rental unit upstairs and is 2,112 sq. ft. The property also includes a vacant lot east of 731 W. Main St., and all three parcels are listed together under the provided tax information.
The assemblage totals 727 W. Main St., 731 W. Main St., and 737 W. Main St. with plenty of parking noted in the remarks. The three parcel identifiers provided are 050-660-018-012-00, 050-660-018-014-00, and 050-660-018-017-00.
The combined site offers a mix of automotive use and office with residential space above, supported by on-site parking and multiple structures across the three included parcels.
The assemblage totals 727 W. Main St., 731 W. Main St., and 737 W. Main St. with plenty of parking noted in the remarks. The three parcel identifiers provided are 050-660-018-012-00, 050-660-018-014-00, and 050-660-018-017-00.
The combined site offers a mix of automotive use and office with residential space above, supported by on-site parking and multiple structures across the three included parcels.
Key Highlights
- Three parcels along M‑21: 731 W. Main St (2,522 SF) for auto repair/auto sales
- 737 W. Main St includes 2,112 SF office space with a 2‑bedroom rental unit upstairs
- Vacant lot east of 731 W. Main St included in the sale
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
$48,105
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
5.35%
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%
$962,100
$962.1K
Cap Rate 7%
$687,214
$687.2K
Cap Rate 9%
$534,500
$534.5K
Market Conditions
NOI Build-Up for 4,634 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
$71.7K $15.48/SF
− Vacancy
−$3.0K −$0.65/SF
EGI
$68.7K $14.83/SF
− OpEx
−$20.6K −$4.45/SF
NOI
$48.1K $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%
$962,100
Cap Rate 7%
$687,214
Cap Rate 9%
$534,500
Alternative Uses
Best Use
Retail
$687.2K
$601.3K – $801.8K
NOI $48,105 @ 7.0% cap · market cap 5.35%
Second Best
Office B
$660.8K
$578.2K – $770.9K
NOI $46,253 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$883.5K
$773.1K – $1.03M
NOI $61,844 @ 7.0% cap · market cap 6.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
719
Businesses Nearby
Well-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 Office in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
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- Frolka Auto Services — 802 S Shiawassee St, Owosso, MI 48867
- Sound Off Customs — 718 S Chipman St b, Owosso, MI 48867
- Back Country Motorsports — 605 S Washington St, Owosso, MI 48867
Frequently Asked Questions
What type of property is this?
Auto shop - Three parcels include an auto repair/auto sales building, an office with an upstairs rental unit, and an included vacant lot.
Where is this auto shop located?
The property is located at 727-731 Main St Owosso, MI.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Three parcels along M‑21: 731 W. Main St (2,522 SF) for auto repair/auto sales; 737 W. Main St includes 2,112 SF office space with a 2‑bedroom rental unit upstairs; Vacant lot east of 731 W. Main St included in the sale
