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    115 Main St Owosso, MI 48867

    For Sale
    $449,000

    Mixed-use building, high rental income.

    Property size:
    6,600 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional three-story mixed-use building, located at 115 E Main St in Owosso, Michigan (48867), presents a compelling investment opportunity. Boasting 6,600 square feet, this property, built in 1880, offers a blend of commercial and residential space. The ground floor features one street-level commercial space, currently leased. Upstairs, four apartments provide consistent rental income: three are two-bedroom, one-bathroom units, and one is a one-bedroom, one-bathroom unit. The building currently generates a gross monthly rental income of $4,250. A detailed profit and loss statement/proforma is available upon request. Significant recent improvements include a new sewer system, updated plumbing, and updated appliances in all residential units. The asking price is $449,000, translating to $68.03 per square foot. The property's APN is 050-470-021-016-00. This turn-key investment property offers a strong return on investment with its established tenancy and recent upgrades. The prime downtown Owosso location ensures high visibility and accessibility. Serious inquiries are encouraged.

    Property Features for 115 Main St

    General Information

    Property type
    Retail properties
    Square Feet
    6,600 SF

    Building Details

    Year Built
    1880
    Stories
    3

    HighLights

    • Exceptional three‑story mixed‑use building in downtown Owosso, MI.
    • 6,600 square feet, built in 1880, with a blend of commercial and residential space.
    • Ground floor features one leased commercial space; upstairs has four apartments (three 2‑bed/1‑bath, one 1‑bed/1‑bath).
    • Generating $4,250 gross monthly rental income.
    • Recent improvements include new sewer system, updated plumbing, and updated appliances.
    • Asking price: $449,000 ($68.03/SF); APN: 050‑470‑021‑016‑00.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Owosso
    County
    Shiawassee
    State
    Michigan
    Longitude
    -84.169895866287
    Latitude
    42.997482473274

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    FAQs

    What type of property is this?
    Retail property - Mixed-use building, high rental income.
    Where is this retail property located?
    The property is located at 115 Main St Owosso, MI.
    What is the asking price?
    The asking price for this property is $449,000.
    What are key features of this property?
    This property features: Exceptional three-story mixed-use building in downtown Owosso, MI.; 6,600 square feet, built in 1880, with a blend of commercial and residential space.; Ground floor features one leased commercial space; upstairs has four apartments (three 2-bed/1-bath, one 1-bed/1-bath).
    (989) 723-3711
    Request Owner's contact information
    115 Main St Owosso, MI 48867
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    Owosso, MI 48867
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    Realmo Value Estimation

    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.

    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.

    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
    115 Main St Owosso, MI 48867
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