1490 M-52 Owosso Owosso, MI 48867
- Lifestyle centers
- 103,691 SF
- 15.00 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 1490 M-52 Owosso
- Year built
- 1963
- Lot size
- 15.00 lot acres
- Property size
- 103,691 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This stabilized, multi-tenant shopping center in Owosso, Michigan presents a compelling investment opportunity. Located at 1490 N M-52, the Shiawassee Towne Centre boasts 103,691 square feet on a 15-acre lot (APN: 006-12-400-016). The property, built in 1963 and featuring a single story with C zoning, currently enjoys a 91.32% occupancy rate across 10 tenants. The asking price is $3,725,000, translating to a price per square foot of $35.92 and a strong 9.63% capitalization rate. The Net Operating Income (NOI) stands at $358,877, reflecting efficient, low-cost professional management already factored into this figure. A recent remodel, including the addition of a large self-storage operation, provides significant upside potential for future growth and increased revenue. This property offers a rare combination of established income and considerable expansion possibilities in a desirable Michigan market. The center's prime location in Shiawassee County, with easy access via M-52, ensures high visibility and convenient access for both tenants and customers. This is an exceptional opportunity for investors seeking a stable, high-performing retail asset with substantial growth prospects.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Owosso
- County
- Shiawassee
- State
- Michigan
- Longitude
- -84.1768
- Latitude
- 43.017
