Updated Office and Medical
122 Grant Street Niles, MI 49120
122 Grant Street, Niles, MI, 49120
$925,000
For Sale
$925,000
COMMERCIAL - Niles, MI
Property Size5,280 SF
Lot Size0.71 Acres
Price / SF$175.19
Days on Market458
Property Features for 122 Grant Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Office
- Bathrooms
- 3
- Rooms
- Bathroom 2, Bathroom 3, Basement, Bathroom 1
- Parking
- 30
- Standard status
- Active
- APN
- 11-74-0990-0001-01-7
- Size
- 5,280 SF
- Lot size
- 0.71 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- To be provided by title office
Utilities
- Utilities
- Cable Available
- Heating system
- Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 1955
- Floors in Building
- 1
- Number of units
- 1
Listing agency
D Mottl Realty Group LLC
(269) 591-0035
Listed by
Melissa Klipowicz
(269) 357-3053
Added: Apr 21, 2025 Updated: Jul 16 at 11:11PM Checked: Jul 22 at 6:06AM
MLS# 25016693
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This updated office and medical building provides over 5,000 square feet of office/medical space with a layout that includes many exam rooms and offices. The building also features a dedicated employee area and a bathroom, along with a large basement that offers ample storage space.
The property is located close to downtown Niles and across the street from the hospital, with on-site parking lot improvements included in the 2016 update. Updates in 2016 include HVAC, roof, and water softeners, supporting day-to-day operational needs.
With its exam-room and office configuration plus dedicated employee space, the interior can accommodate a range of medical and professional office uses based on the available room layout.
The property is located close to downtown Niles and across the street from the hospital, with on-site parking lot improvements included in the 2016 update. Updates in 2016 include HVAC, roof, and water softeners, supporting day-to-day operational needs.
With its exam-room and office configuration plus dedicated employee space, the interior can accommodate a range of medical and professional office uses based on the available room layout.
Key Highlights
- Over 5,000 sq ft office/medical space close to downtown Niles and across from the hospital
- Updated in 2016 with HVAC, roof, water softeners, and parking lot
- Forced air heat and central air conditioning
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $112.8k | $21.36 |
| − Vacancy | −$14.7k | −$2.78 |
| EGI | $98.1k | $18.58 |
| − OpEx | −$39.2k | −$7.43 |
| NOI | $58.9k | $11.15 |
5,280 SF · lease $21.36/SF/yr · vacancy 13.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$841.0K
$735.9K – $981.2K
NOI $58,872 @ 7.0% cap · market cap 6.36%
Second Best
Office B
$830.9K
$727.1K – $969.4K
NOI $58,166 @ 7.0% cap · market cap 6.29%
Theoretical Best
Office A
$1.11M
$972.2K – $1.30M
NOI $77,774 @ 7.0% cap · market cap 8.41%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Gheorghiu Ioana A MD
Physician
Jardine Lillian S ...
Pediatrician
Tapley Holly S ...
Physician
Ashton Timothy H
Employment Agency
Riedel Monika P
Physician
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FAQs
What type of property is this?
Medical Office Space - Updated office/medical building offers multiple exam rooms, offices, and ample storage in a large basement.
Where is this medical office space located?
The property is located at 122 Grant Street Niles, MI.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Over 5,000 sq ft office/medical space close to downtown Niles and across from the hospital; Updated in 2016 with HVAC, roof, water softeners, and parking lot; Forced air heat and central air conditioning
