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$579,000
Est. payment /mo
12,416 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 12,416 sqft
Price per Sqft $46
Subdivision Na
MLS Listing ID 79080070044
Year Built 1986
Lot Size 6,534 Sqft
Acres 0.15
Property Description
Exceptional Downtown Commercial Investment Opportunity! This well-maintained multi-story commercial building offers approximately 15,986 square feet of versatile space in a prime downtown location. The property features 12,416 square feet of currently leasable space, including 6,194 SF on the first floor and 6,222 SF on the second floor, plus an additional 3,570 SF third floor currently utilized for storage. The third floor presents an outstanding value-add opportunity and could potentially be converted into residential apartments through programs such as DRRP, MCRP, RAP, or MI Neighborhoods, creating additional income potential. Recent improvements include updated flooring (2022) and renovated restrooms (2025). An elevator provides convenient access to all levels. The building is currently partially owner-occupied (approximately 9,000 SF) and partially tenant-occupied (approximately 3,000 SF) with established long-term tenants paying approximately $6.00/SF/year, offering significant upside potential for future rental income. Ample public parking is available along Washington Street and in the city-owned parking lot directly behind the building, providing convenient access for tenants and visitors.
Location
State MI
County Shiawassee
Area Area07111Shiawasseetwp
Interior
Heating Forced Air, Natural Gas
Cooling Central Air
Fireplace No
Exterior
Parking Features ParkingLot
Utilities Available NaturalGasConnected
View Y/N No
Roof Type Other
Building
Foundation Basement
Sewer Public Sewer
Water Public
New Construction No
Schools
School District Owosso
Others
Acceptable Financing Cash, Conventional, Other, OwnerMayCarry
Listing Terms Cash, Conventional, Other, OwnerMayCarry
Special Listing Condition Standard
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Listed by Robert J Lentz of Tamarack Realty Services
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