204 Main St Owosso, MI 48867
- Commercial real estate
- 0.12 lot acres
Current Use by Public Records
- Round Midnight Records / Record Store
- Taphouse Specialty Meat Market / Butcher Shop / Market
Property Details for 204 Main St
- Lot size
- 0.12 lot acres
- Property type
- Commercial real estate
- APN
- 050-470-023-003-00
- APU
- 5047002300300
Description
This two-story, 10,369 square foot commercial building is located in downtown Owosso, Michigan, at 204 W Main St (M-21). Built in 1890, this Class D property features a creative office subtype and is currently 100% occupied by a single tenant under a modified lease expiring January 30, 2023. The building boasts excellent visibility due to its Main Street frontage in a high-traffic area. It offers both front and rear entrances for convenient access. A city parking lot is conveniently located directly behind the building, supplementing limited street parking. The property sits on a 0.12-acre lot (APN: 050-470-023-003-00) and is zoned B3. The asking price is $525,000, representing a $50.63 per square foot price and a 10% cap rate. The building consists of one structure with two stories and two units. This presents a compelling investment opportunity in a vibrant downtown location.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $305,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $415,000
- 6.5%
- $355,000
- 7%
- $385,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $395,000
- Geo Method
- $345,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $420,000
- Retail
- $320,000
- Mixed-Use
- $420,000
- Hospitality
- $380,000
- Educational
- $390,000
- Residential Income
- $320,000
- Energy
- $390,000
- Income-Based Land
- $390,000
- Food Service
- $400,000
Location Insight
- Map
- Local Demand
- City
- Owosso
- County
- Shiawassee
- State
- Michigan
- Longitude
- -84.1723
- Latitude
- 42.9978
- CBSA code
- 29620
- CBSA name
- LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA
