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    1070 Main St Owosso, MI 48867
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    1070 Main St Owosso, MI 48867

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    • Office Spaces
    • 2,566 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • MAP Realty / Real Estate Agency

    Property Details for 1070 Main St

    Property size
    2,566 SF
    Property type
    Office Spaces
    Property subtype
    Coworking space

    Description

    This exceptional two-story, 2,566 square foot office building presents a unique opportunity for businesses seeking a prominent location in Owosso, Michigan. Situated on a high-traffic corridor of M-21/E. Main Street, this stand-alone building boasts excellent visibility and accessibility. The property is currently fully vacant, offering immediate occupancy for a single tenant or the potential for multiple tenants. The interior features a thoughtfully designed layout including multiple private offices, a welcoming lobby area, and ample natural light from numerous windows. The building also includes multiple restrooms, adding to its functionality and convenience. The B-2 zoning provides flexibility for a variety of commercial uses. With its turn-key condition, this property requires minimal upfront investment, allowing businesses to focus on operations rather than renovations. The property's APN is 007-19-200-044 and is located in Shiawassee County. This is an ideal space for creative office, traditional office, or coworking businesses seeking a well-maintained and strategically located building. The building's size and layout offer significant adaptability to suit diverse business needs. Don't miss this chance to secure a prime commercial property in a thriving area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Owosso
    County
    Shiawassee
    State
    Michigan
    Longitude
    -84.1541
    Latitude
    42.9977

    Comparable in this City

    • Value Estimation by Request
      2,566 SF

      1070 Main St

      Office Units • 2,566 SF
      1070 Main St, Owosso, MI 48867
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    • Value Estimation by Request
      50,508 SF

      Corunna, MI 48867

      Restaurants • 50,508 SF
      Corunna, MI 48867
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    • Value Estimation by Request
      1,622 SF

      2005 Main St

      Office Spaces • 1,622 SF
      2005 Main St, Owosso, MI 48867
      View Details
    • Value Estimation by Request
      34,534 SF

      1975 Main

      Office Spaces • 34,534 SF
      1975 Main, Owosso, MI 48867
      View Details
    • Value Estimation by Request
      1,308 SF

      1026 M 21

      OFFICE BUILDING • 1,308 SF
      1026 M 21, Owosso, MI 48867-9007
      View Details
    • Value Estimation by Request
      1,800 SF

      205 Hintz Rd

      MEDICAL BUILDING • 1,800 SF
      205 Hintz Rd, Owosso, MI 48867-9019
      View Details

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    Owosso, MI 48867
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    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
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