Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Vacant Land in Retail Corridor Title is generated by Realmo AI

    1868 M-21, Owosso, MI 48867

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    5.25 acres of vacant land ready for development.

    Type:Land
    Lot size:
    5.25 Acres
    Added:
    Sep 13, 2022
    Days on Market:
    1347
    Last Refresh:
    May 13 at 8:09 pm

    Property Features for 1868 M-21

    General Information

    Standard status
    Active
    Lot size
    5.25 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Leo Deason
    Leo Deason

    Listing agent Leo Deason License #MI6501405470

    Listing office Woodworth Commercial

    Listing date Sep 13, 2022

    Source Crexi

    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 Woodworth Commercial

    HighLights

    • 5.25 acres of vacant land ready for development
    • Prime location on M‑21/E Main Street in a busy retail corridor
    • 172ft of prime frontage
    • Close proximity to major retailers like Walmart, Kroger, and Home Depot
    • High‑traffic area with a diverse mix of businesses
    • Development potential in a commercially active area

    Overview

    This 5.25-acre vacant land parcel is available for development. It is located on M-21/E Main Street in the retail corridor of Owosso. The property features 172 feet of frontage. Nearby retailers include Walmart, Kroger, Home Depot, Aldi, Planet Fitness, Dollar Tree, Maurice’s, Aarons, and AutoZone, as well as Buick GMC.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Owosso
    County
    Shiawassee
    State
    Michigan
    Longitude
    -84.188
    Latitude
    43.0055

    Nearby Similar for Sale

    • $549,900
      2,070 SF

      Restored Building on M-21

      Commercial building on 4.28 acres, move-in ready for business.
      2250 E Main, Owosso, MI 48867
      View Details
    • $84,500
      4,540 SF

      Mixed-Use Property in Owosso, MI

      Mixed-use property with two business frontages and apartment.
      904 W Main, Owosso, MI 48867
      View Details
    • $139,900
      1,400 SF

      Owosso Duplex with Remodeled Unit

      Duplex in Caledonia Township featuring a remodeled vacant unit.
      2026 James, Owosso, MI 48867
      View Details
    • $175,000
      3 SF

      Updated Duplex in Owosso

      Two-unit property with updates and potential for additional living space.
      514 Hampton, Owosso, MI 48867
      View Details
    • $595,000
      6,000 SF

      Owosso Industrial Building For Sale

      Industrial building in Owosso, suitable for cannabis grow or processing.
      1500 Mcmillan, Owosso, MI 48867
      View Details
    • $189,000

      Owosso Vacant Land Opportunity

      9+ acres of commercial land for development in Owosso, MI.
      304 N Gould, Owosso, MI 48867
      View Details
    • $349,999
      14,800 SF

      Owosso Warehouse/Storage Opportunity

      14,800 SF warehouse/storage building on 1.37 acres in Owosso.
      403 State Street, Owosso, MI 48867
      View Details
    • $600,000
      6,256 SF

      Corunna Mixed-Use Storefront Opportunity

      6200+ sq ft storefront with two apartments and garages.
      2256 E Main Street, Corunna, MI 48867
      View Details
    • $549,900

      Restored Building on M-21

      Commercial building on almost 5 acres, move-in ready.
      2250 E M 21, CorunnaCity_Shiawassee, MI 48867
      View Details
    • $123,900
      2,042 SF

      Rented Duplex Near Downtown Owosso

      Fully rented duplex near downtown, tenants pay all utilities.
      206-208 N Howell, Owosso, MI 48867
      View Details
    • $7,500

      Land For Sale, Owosso, MI

      Commercial land available in Owosso, Michigan.
      823 Hammont Street, Owosso, MI 48867
      View Details
    • $825,000
      7,000 SF

      Industrial Building in Owosso Township

      7,000 sq ft industrial building on 1.57 acres.
      1400 McMillan Rd, Owosso, MI 48867
      View Details

    FAQs

    What type of property is this?
    Commercial land - 5.25 acres of vacant land ready for development.
    Where is this commercial land located?
    The property is located at 1868 M-21 Owosso, MI.
    What is the asking price?
    The asking price for this property is $349,000.
    What are key features of this property?
    This property features: 5.25 acres of vacant land ready for development; Prime location on M‑21/E Main Street in a busy retail corridor; 172ft of prime frontage
    (989) 723-3711 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Leo Deason
    Leo Deason
    Real Estate License ID: MI6501405470
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1868 M-21, Owosso, MI 48867
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!