501 Shiawassee St Owosso, MI 48867

Property Details for 501 Shiawassee St

Lot size

1.96 lot acres

Property type

Commercial real estate

APN

050-651-000-022-00

APU

5065100002200

Description

This exceptional 18,000-square-foot industrial property, situated on a generous 1.96-acre lot in Owosso, Michigan, presents a compelling investment opportunity. Conveniently located near downtown Owosso, the building boasts a substantial 5,000-square-foot basement, constructed with durable reinforced concrete. The property's versatility is highlighted by existing plans for diverse uses, including an apartment complex, a grow facility, and a storage facility. This adaptability makes it an ideal canvas for a variety of entrepreneurial ventures. Adding to its significant appeal is a substantial grant of over $2 million, specifically earmarked for the conversion of the property into an apartment complex. This financial incentive significantly reduces the financial burden and accelerates the potential return on investment. The property's prime location and substantial size, coupled with the availability of significant grant funding, position this asset as a rare find in Owosso's thriving real estate market. This is a chance to acquire a property with a solid foundation for future growth and profitability, offering a unique opportunity to shape the future of this dynamic location.