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    Former Restaurant with Extra Parking Title is generated by Realmo AI

    1295 S 11th Street, Niles, MI 49120

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    Claim this Listing
    For Lease
    $25 SF/Yr $6,541/Mo (calc)

    COMMERCIAL - Niles, MI

    Type:Retail
    Property size:
    3,140 SF
    Lot size:
    0.56 Acres
    Added:
    Jul 14, 2025
    Days on Market:
    310
    Last Refresh:
    May 19 at 7:06 am

    Property Features for 1295 S 11th Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Parking features
    Driveway
    Fireplace
    1
    Standard status
    Active
    APN
    11-73-8210-0015-00-1
    Size
    3,140 SF
    Lot size
    0.56 Acres

    Taxes and HOA fees

    Tax Description
    LOT 116 VERNON HGTS ACRES 2ND ADD TO CITY OF NILES

    Utilities

    Utilities
    Cable Available
    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    2001
    Building materials
    Concrete
    Roof type
    Composition

    We can help!

    Listing Contact
    James H Ringler
    James H Ringler

    Listing agent James H Ringler License #6506039076

    Listing office Cressy Commercial Real Estate 415 E Prairie Ronde St., Vandalia, MI

    Listing date Jul 14, 2025

    MLS# 25034937

    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.

    HighLights

    • High‑traffic location on S 11th Street/M‑51
    • Former Kentucky Fried Chicken franchise building
    • Sub‑lease opportunity ideal for food or retail
    • Includes extra parking lot
    • Year Built 2001
    • Concrete construction

    Overview

    This property, located on S 11th Street/M-51 in Niles, Michigan, is the former site of a Kentucky Fried Chicken franchise. The property offers a sublease opportunity suitable for food or other retail operations. The building has a size of 3140 square feet and is situated on a 0.56-acre lot that includes an extra parking lot. The lease structure is Absolute Net, meaning the tenant is responsible for all expenses and repair responsibilities related to the property. The total acreage includes a second lot with additional ground.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    KFC Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Niles
    County
    Berrien
    State
    Michigan
    Longitude
    -86.247512
    Latitude
    41.813142

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    FAQs

    What type of property is this?
    Drive through restaurant - Restaurant space with additional lot available for sublease.
    Where is this drive through restaurant located?
    The property is located at 1295 S 11th Street Niles, MI.
    What is the lease rate?
    The lease rate is $25 SF/Yr.
    What are key features of this property?
    This property features: High‑traffic location on S 11th Street/M‑51; Former Kentucky Fried Chicken franchise building; Sub‑lease opportunity ideal for food or retail
    (574) 298-8980
    We can help!
    Listing Contact
    James H Ringler
    James H Ringler
    Real Estate License ID: 6506039076
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    1295 S 11th Street, Niles, MI 49120
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