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1350 E M 21 10,720 SF 100% Leased Office Building Owosso, MI 48867 $1,000,000 ($93.28/SF) 12.43% Cap Rate
EXECUTIVE SUMMARY
Outstanding investment opportunity with long-term leases in place with the Social Security Administration and Orthopedic Associates. The building is in excellent condition and has undergone numerous updates, including a full lower-level renovation in 2021, roof and gutter replacements, five new HVAC units installed in 2018, and a resurfaced parking lot in 2021. In 2022, the Social Security office was renovated at a cost of $1.5 million to meet federal guidelines, per seller. This is a turnkey property with strong tenants, significant capital improvements, and reliable income potential.
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Medical
Building Size
10,720 SF
Building Class
C
Year Built
1973
Price
$1,000,000
Price Per SF
$93.28
Cap Rate
12.43%
NOI
$124,300
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
5,360 SF
Building FAR
0.25
Lot Size
0.98 AC
Zoning
B-2 - Planned Shopping Center
Parking
64 Spaces (7.5 Spaces per 1,000 SF Leased)
AMENITIES
- Signage
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- US Government
- Public Administration
- -
-
$9.99
-
Lorem Ipsum
-
Jan 0000
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| US Government | Public Administration | - | $9.99 | Lorem Ipsum | Jan 0000 |
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- CONDITION
- AVAILABLE
Great for leasing smaller offices, we also have larger offices
Great for leasing smaller offices, we also have larger offices
| Space | Size | Space Use | Condition | Available |
| 1st Fl-Ste 1B | 1,200 SF | Office | Partial Build-Out | 30 Days |
| 1st Fl-Ste B | 2,000 SF | Office | Partial Build-Out | 30 Days |
1st Fl-Ste 1B
| Size |
| 1,200 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| 30 Days |
1st Fl-Ste B
| Size |
| 2,000 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| 30 Days |
1st Fl-Ste 1B
| Size | 1,200 SF |
| Space Use | Office |
| Condition | Partial Build-Out |
| Available | 30 Days |
Great for leasing smaller offices, we also have larger offices
1st Fl-Ste B
| Size | 2,000 SF |
| Space Use | Office |
| Condition | Partial Build-Out |
| Available | 30 Days |
Great for leasing smaller offices, we also have larger offices
1 1
PROPERTY TAXES
| Parcel Number | 007-20-100-015 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $348,200 |
PROPERTY TAXES
Parcel Number
007-20-100-015
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$348,200
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1350 E M 21
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