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    1560 Main St Owosso, MI 48867
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    Property profile & analytics

    1560 Main St Owosso, MI 48867

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    • Lifestyle centers
    • 76,476 SF
    • 10.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 1560 Main St

    Year built
    1993
    Lot size
    10.00 lot acres
    Property size
    76,476 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional retail investment opportunity presents a 76,476 square foot shopping center strategically located at 1560 E Main St, Owosso, MI 48867, in the heart of Shiawassee County's retail corridor. The property boasts a prominent location with frontage on M-21, ensuring high visibility and accessibility. The center comprises two single-story buildings, totaling 76,476 square feet, constructed in 1993 and renovated in 2015. Currently, the center enjoys 75% occupancy, anchored by a Walmart and complemented by tenants including Harbor Freight and Dollar Tree. The property features ample surface parking for customer convenience. Building construction is block with flat roofs. Heating is provided by natural gas ceiling units, and cooling is achieved through package units. Municipal water and sewer services are in place. The property sits on a 10-acre lot (APN: 0071730000704) and is zoned B-2, offering flexibility for future development. Additional vacant land is included within the 10-acre parcel, presenting further expansion potential. This NNN-leased multi-tenant property offers a compelling investment opportunity in a thriving retail market. The property's strong tenant mix, prime location, and substantial land area make it an attractive prospect for investors seeking a stable and growing income stream.

    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
    -84.1399
    Latitude
    42.9978

    Comparable in this City

    • Value Estimation by Request
      50,508 SF

      1643 M 21

      Lifestyle centers • 50,508 SF
      1643 M 21, Owosso, MI 48867
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    • Value Estimation by Request
      103,691 SF

      1490 M-52 Owosso

      Lifestyle centers • 103,691 SF
      1490 M-52 Owosso, Owosso, MI 48867
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    • Value Estimation by Request
      50,508 SF

      Corunna, MI 48867

      Restaurants • 50,508 SF
      Corunna, MI 48867
      View Details
    • Value Estimation
      $2,095,000
      11,652 SF

      1560 M 21

      SHOPPING CENTER, STRIP CENTER • 11,652 SF
      1560 M 21, Owosso, MI 48867-9050
      View Details
    • Value Estimation by Request
      10,100 SF

      1351 M 21

      SHOPPING CENTER, STRIP CENTER • 10,100 SF
      1351 M 21, Owosso, MI 48867-9039
      View Details
    • Value Estimation by Request
      50,301 SF

      1629 M 21

      SHOPPING CENTER, STRIP CENTER • 50,301 SF
      1629 M 21, Owosso, MI 48867-9053
      View Details

    Similar Nearby for Sale

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    • $525,000
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    • $549,900

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    • $84,500
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      Mixed-Use Property in Owosso, MI

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    • $549,900
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      Restored Building on M-21

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    Similar Nearby for Lease

    • Contact for pricing
      1,000 SF

      Retail Space in Primary Corridor

      Retail space available in high-traffic Owosso location.
      1475-1501 E Main St, Owosso, MI 48867
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    • Contact for pricing
      1,050 SF

      Retail Space in Primary Corridor

      Retail space in a high-traffic area near Wal-Mart.
      1351-1361 E M 21, Owosso, MI 48867
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    • $30 SF/Yr
      6,309 SF

      Retail Space Available For Rent

      Retail space available for lease, 6309 square feet.
      2150 E M 21, Owosso, MI 48867
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    1560 Main St
    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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