Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    720 Chipman St Owosso, MI 48867-3373
    Back to Search
    Property profile & analytics

    720 Chipman St Owosso, MI 48867-3373

    View on Map
    • Commercial real estate
    • 0.20 lot acres
    Off-Market
    Last Sale Apr 17, 2025
    $60,000
    Property ID
    US43-2189448
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 720 Chipman St

    Lot size
    0.20 lot acres
    Property type
    Commercial real estate
    APN
    050-113-008-001-00
    APU
    5011300800100

    Description

    This exceptional 1,560 square foot commercial/mixed-use building is situated on a prominent corner lot at the intersection of Stewart and Chipman in Owosso, Michigan. Boasting a highly visible location on a busy street, this property presents a fantastic opportunity for a diverse range of businesses. The building features large storefront windows, providing excellent visibility and attracting potential customers. Ample parking is available in the sizable lot. Inside, you'll find a spacious showroom, a private back office, and a full bathroom. A full basement with a half-bath adds significant additional space. Recent significant investments exceeding $80,000 have been made in key building improvements, including flooring, walls, roof, electrical systems, and insulation. These upgrades ensure the property is in excellent condition and ready for immediate occupancy. The versatile layout makes it ideal for a variety of uses, such as a real estate office, insurance agency, car sales showroom, daycare center, or retail store. The property sits on a 0.2-acre lot. This turnkey operation is ready for its next chapter. Don't miss this chance to establish your business in a prime Owosso location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Owosso
    County
    Shiawassee
    State
    Michigan
    Longitude
    -84.187
    Latitude
    42.9907
    CBSA code
    29620
    CBSA name
    LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $1,757
    $0.00
    $0.00
    $38,700
    -
    $0.00
    $0.00
    $77,400

    Comparable in this City

    • Value Estimation by Request

      114 Main St

      COMMERCIAL (GENERAL)
      114 Main St, Owosso, MI 48867-2912
      View Details
    • Value Estimation by Request
      0.33 Acres

      100 Main St

      COMMERCIAL (GENERAL) • 0.33 Acres
      100 Main St, Owosso, MI 48867-3133
      View Details
    • Value Estimation by Request
      0.02 Acres

      106 Main St

      COMMERCIAL (GENERAL) • 0.02 Acres
      106 Main St, Owosso, MI 48867-2912
      View Details
    • Value Estimation by Request
      0.05 Acres

      201 Main St

      COMMERCIAL (GENERAL) • 0.05 Acres
      201 Main St, Owosso, MI 48867-2913
      View Details
    • Value Estimation by Request
      0.07 Acres

      916 Main St

      COMMERCIAL (GENERAL) • 0.07 Acres
      916 Main St, Owosso, MI 48867-2517
      View Details
    • Value Estimation by Request
      2.52 Acres

      300 Main St

      COMMERCIAL (GENERAL) • 2.52 Acres
      300 Main St, Owosso, MI 48867-3137
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.20 Acres

      Maple River Building Site

      1.2 acre vacant land on the Maple River.
      V/L Morrice Rd, Owosso, MI 48867
      View Details
    • $600,000
      6,256 SF

      Corunna Mixed-Use Storefront Opportunity

      6200+ sq ft storefront with two apartments and garages.
      2256 E Main St, Owosso, MI 48867
      View Details
    • $349,999
      14,800 SF

      Owosso Warehouse/Storage Opportunity

      14,800 SF warehouse/storage building on 1.37 acres in Owosso.
      403 State St, Owosso, MI 48867
      View Details
    • $40,000
      1.30 Acres

      Buildable Lot Near Owosso

      1.3 acre residential lot with well near Owosso, Michigan.
      2305 W Juddville Rd, Owosso, MI 48867
      View Details
    • $525,000
      10,369 SF

      Downtown Owosso Retail Building

      High-traffic, fully occupied investment
      204 Main St, Owosso, MI 48867
      View Details
    • Contact for pricing
      0.20 Acres

      Residential Land in Owosso, MI

      Vacant lot in Owosso, close to amenities.
      Hintz Rd, Owosso, MI 48867
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      15,973 SF

      Updated Office Space by River

      Move-in ready office campus with modern upgrades and ample parking.
      621 W Oliver St, Owosso, MI 48867
      View Details
    • $18 SF/Yr

      Downtown Owosso Medical Office Space

      Medical office space in downtown Owosso, excellent visibility.
      208 North Shiawassee St, Owosso, MI 48867
      View Details
    • Contact for pricing

      Commercial Land in Retail Corridor

      Land for rent in a primary retail corridor.
      East Main St, Owosso, MI 48867
      View Details
    • $120 SF/Yr
      1,622 SF

      Prime Owosso Office/Retail Space

      Newly renovated, high-traffic location.
      2005 Main St, Owosso, MI 48867
      View Details
    • $12 SF/Yr
      10,824 SF

      Downtown Owosso Retail Opportunity

      Three Suites, High-Traffic Location
      200 Main St, Owosso, MI 48867
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    720 Chipman St
    Owosso, MI 48867-3373
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    720 Chipman St, Owosso, MI, 48867
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!