Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1500 Mcmillan Rd Owosso, MI 48867

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    6,900 SF Manufacturing Space, Vacant

    Property size:
    6,900 SF

    Property Features for 1500 Mcmillan Rd

    General Information

    Property type
    Manufacturing properties
    Square Feet
    6,900 SF
    Lot Size
    73,616 SF

    Building Details

    Year Built/Renovated
    2000/2021
    Buildings
    1
    Stories
    1

    We can help!

    Listing Contact
    Maurice Khalifa
    Maurice Khalifa

    Listing Agent: Maurice Khalifa

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 6,900-square-foot industrial building, situated on a 1.69-acre lot in Owosso, Michigan (48867), presents a compelling owner-user opportunity. Built in 2000 and renovated in 2021, the single-story structure boasts a 14-foot clear ceiling height, ideal for various manufacturing, warehousing, or distribution needs. The property includes 6,000 square feet of industrial space and 900 square feet of office space. Features include radiant ceiling heat and six inches of wall insulation, contributing to energy efficiency. The property is zoned M1 and importantly, is approved for cannabis cultivation, processing, or dispensary operations. With one loading dock and ample space, this property offers significant potential for a variety of businesses. The asking price is $599,900, translating to $86.94 per square foot. The building is currently vacant with an occupancy date of March 7, 2024. This prime location in Shiawassee County offers excellent access to transportation and logistical advantages. Don't miss this chance to acquire a versatile and strategically located industrial property.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Manufacturing properties

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Owosso
    County
    Shiawassee
    State
    Michigan
    Longitude
    -84.1555084
    Latitude
    42.9811263

    Nearby Similar for Sale

    • $160,000
      2,688 SF

      Mixed-Use Building in Westown Owosso

      Commercial building with retail and office space in Owosso.
      822 W Main, Owosso, MI 48867
      View Details
    • New
      $124,900
      2,042 SF

      Rented Duplex Near Downtown Owosso

      Fully rented duplex near downtown Owosso with tenant-paid utilities.
      206-208 N Howell St, Owosso, MI 48867
      View Details
    • $125,000
      1,056 SF

      Commercial Office Space Near Kroger

      Office space with exam rooms and parking near shopping center.
      255 N Hintz Rd, 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 Rd, 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 St, 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 St, Owosso, MI 48867
      View Details
    • $175,000

      Charming Professional Office Space Owosso

      Move-in ready office space with character in Owosso, Michigan.
      318 N Water St St, Owosso, MI 48867
      View Details
    • $1,000,000

      Turnkey Investment Property For Sale

      Excellent condition, long-term leases, significant capital improvements, reliable income.
      1350 E M 21, Owosso, MI 48867
      View Details
    • $299,000

      Restaurant Opportunity in Downtown Owosso

      Restaurant space with equipment near movie theater and historic train.
      200 E Comstock St, Owosso, MI 48867
      View Details
    • $125,000

      Commercial Development Opportunity Near Kroger

      Former clinic with office space and ample parking near shopping.
      255 N Hintz St, Owosso, MI 48867
      View Details
    • $399,000
      3,200 SF

      M-21 Warehouse For Sale

      3,200 SF warehouse on 1.6 acres with B-2 zoning.
      2246 East Main St, Owosso, MI 48867
      View Details
    • $399,000
      3,200 SF

      M-21 Warehouse/Industrial Building For Sale

      3,200 SF industrial/warehouse building on M-21 with flexible B-2 zoning.
      2246 East Main St, Owosso, MI 48867
      View Details

    FAQs

    What type of property is this?
    Manufacturing property - 6,900 SF Manufacturing Space, Vacant
    Where is this manufacturing property located?
    The property is located at 1500 Mcmillan Rd Owosso, MI.
    What is the asking price?
    The asking price for this property is $599,900.
    What are key features of this property?
    This property features: 6,900 SF industrial building on a 1.69-acre lot, built in 2000.; Features 6,000 SF of warehouse space and 900 SF of office space with 14' clear ceiling height.; Includes radiant ceiling heat and 6" wall insulation.
    (586) 615-0101 Call to check price and availability
    Request Owner's contact information
    1500 Mcmillan Rd Owosso, MI 48867
    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.
    1500 Mcmillan Rd
    Owosso, MI 48867
    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
    1500 Mcmillan Rd Owosso, MI 48867
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Maurice Khalifa
    Maurice Khalifa
    Real Estate License ID: 6502376505
    (586) 615-0101 (586) 726-4600
    Learn more
    Google sign-in failed. Please try again or use another login method.