1700 M 21Owosso, MI 48867

Property Details for 1700 M 21

Year built

1980

Lot size

0.75 AC

Property size (Sq ft)

1,200 SF

Property type

Drive through restaurants

APN

007-20-200-003-02

APU

72020000302

Description

This 1,200 square foot development site in Owosso, Michigan, presents a unique opportunity for QSR/Fast Food businesses. Located at 1700 E M-21, this property boasts excellent visibility on a signaled corner, directly across from a Walmart. The site features a freestanding building with drive-thru capabilities and a large pylon sign, previously occupied by a Hot-N-Now and currently by A Clean Cigarette. The property is zoned B-2 and has an APN of 007-20-200-003-02. Built in 1990, the site offers significant potential for redevelopment. The asking price is $350,000, translating to $291.67 per square foot. An adjacent 3.4-acre parcel is also available for purchase, offering the potential for a larger-scale development. This location benefits from high traffic counts due to its prominent position on M-21 in a busy retail corridor. The combination of existing infrastructure and prime location makes this an exceptional investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $301,976

  6.5%

  $278,747

  7%

  $258,836

• Comparable approach

  Method

  Valuation

  Relative Method

  $282,865

  Geo Method

  $282,865

• Alternative Use

  Use

  Valuation

  Residential

  $235,133

  Hospitality

  $215,381

  Educational

  $179,194

  Medical

  $185,357

  Retail

  $278,747

Location Insight

City

Owosso

County

Shiawassee

State

Michigan

Latitude

42.9974

Longitude

-84.1367

CBSA code

29620

CBSA name

LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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