Fully Occupied Investment Property
Retail-Commercial
for Sale
| Catylist Listing ID: |
30852941 |
| Property Subtypes: |
Free-Standing Building
|
| Building Size (RSF): |
7,280 SF
|
| Gross Building Area: |
See Agent |
| Gross Land Area: |
0.82 Acres
|
| Sale Price: |
$811,000 |
| Unit Price: |
$111.40 PSF |
| Property Use Type: |
Net Leased Investment (NNN), Investment |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
9.0% |
| Average Occupancy Rate: |
100 |
| Last Updated: |
9/18/2023 |
Overview / Comments
Introducing a prime investment opportunity - the fully occupied 1159 E M 21, Owosso, MI 48867. This retail-commercial free-standing building boasts a spacious 7,280 SF, offering a diverse range of possibilities. With a sale price of $811,000, this property presents an outstanding value at just $111.40 per square foot.
Currently generating an impressive annual NOI of $61,817, this property offers a solid CAP Rate. One tenant has a significant lease term of 6 years remaining on the original agreement, with an additional 10-year option available. The second tenant has a year left on their original term, along with an option to renew for 3 more years.
Conveniently located between Flint and Lansing, this property enjoys excellent visibility with over 140 feet of frontage. Its strategic position ensures high traffic exposure, with a daily vehicle count of 35,000. The building is well-maintained and features 3 loading doors and 25 parking spaces.
Don't miss out on this exceptional investment opportunity!
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Additional Details
| Nearest MSA: |
Lansing-East Lansing |
| County: |
Shiawassee |
| Tax ID/APN: |
007-48-016-000-03 |
| Zoning: |
B-2 |
| Retail Clientele: |
Business, Other |
| Property Located Between: |
Flint / Lansing |
| Property Visibility: |
Excellent |
| Feet of Frontage: |
140 |
| Traffic/Vehicle Count: |
35,000 |
| Highway Access: |
1-69 |
| Airports: |
Owosso Municipal |
| Tenancy: |
Multiple Tenants |
| Total Number of Buildings: |
1 |
| Number of Stories: |
1 |
| Typical SF / Floor: |
7,280 SF |
| Property Condition: |
Excellent |
| Year Built: |
2007 |
| Year Renovated: |
2021 |
| Roof Type: |
Flat |
| Construction/Siding: |
Aluminum Siding |
| Total Parking Spaces: |
25 |
| Parking Type: |
Surface |
| Heat Type: |
Natural Gas |
| Heat Source: |
Central |
| Air Conditioning: |
Engineered System |
| Internet Access: |
Cable |
| Zoning Description: |
B-2 |
| Lot Frontage: |
140 |
| Lot Depth: |
252 |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
| Legal Description: |
LOTS 14, 15, 16, 17, 41 AND 42, AND PART OF THE CLOSED ALLEY OF THE PLAT OF "AMOS GOULD ACRES #1" ADJACENT THERETO, CALEDONIA CHARTER TOWNSHIP, SHIAWASSEE COUNTY, MICHIGAN, ACCORDING TO THE RECORDED PLAT THEREOF, AS RECORDED IN LIBER 1, PAGE 133, SHIAWASSEE COUNTY RECORDS, BEING MORE PARTICULARLY DESCRIBED AS BEGINNING AT THE SE CORNER OF SAID LOT 17; TH S90°00'00"W ON THE NORTH LINE OF EAST MAIN ST A DISTANCE OF 142.47 FT TO THE SW CORNER OF SAID LOT 14; TH N00°02'17"W ON THE WEST LINE OF SAID LOT 14 A DISTANCE OF 115.00 FT; TH N90°00'00"E 9.06 FT; TH N00°02'16"E ON THE WEST LINE OF SAID LOT 42 A DISTANCE OF 148.17 FT TO THE NW CORNER OF SAID LOT 42; TH S89°56'08"E 97.06 FT ON THE SOUTH LINE OF EAST EXCHANGE ST; TH ON A CURVE TO THE RIGHT HAVING A RADIUS OF 35.00 FT, A CENTRAL ANGLE OF 91°53'34", AND A CHORD BEARING AND DISTANCE OF S45°58'27"E 50.32 FT TO THE WEST LINE OF SHORT ST; TH S00°02'17"E 228.09 FT (RECORDED AS 228.05 FT) TO THE POB. INCLUDING A NON-EXCLUSIVE EASEMENT FOR INGRESS AND EGRESS OVER A PARCEL OF LAND DESCRIBED AS: BEGINNING AT THE SW CORNER OF SAID LOT 14; TH S90°00'00"W 65.00 FT; TH N00°01'56"E 161.25 FT; TH N90°00'00"E 73.92 FT; TH S00°02'16"W 46.25 FT; TH S90°00'00"W 9.06 FT; TH S00°02'17"E 115.00 FT TO THE POB. ** .82 AC M/L FROM LLA; PARTS OF 48-016-000-006 & 48-016-000-016 NEW FOR 2020 ** |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
7,829 |
23,062 |
26,994 |
| Median Age: |
33.82 |
37.45 |
38.43 |
| Households: |
3,090 |
9,324 |
10,981 |
|
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