Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Versatile Commercial Building in Niles Title is generated by Realmo AI

    920 Lambert Street, Niles, MI 49120

    View on Map
    Claim this Listing
    For Sale
    Under Contract
    $399,000

    COMMERCIAL - Niles, MI

    Type:Office
    Property size:
    3,680 SF
    Lot size:
    0.34 Acres
    Price / SF:
    $108/SF
    Added:
    Mar 17, 2025
    Days on Market:
    426
    Last Refresh:
    May 16 at 3:06 pm

    Property Features for 920 Lambert Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Bathrooms
    2
    Rooms
    Bathroom 2, Bathroom 1
    Standard status
    Active Under Contract
    APN
    11-73-5250-0040-00-3
    Size
    3,680 SF
    Lot size
    0.34 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    THE E 150' OF LOT 40 NEWTON PLACE CITY OF NILES
    Tax Annual Amount
    1823

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1956
    Floors in Building
    1
    Number of units
    1
    Roof type
    Metal

    We can help!

    Listing Contact
    Catherine Waggoner

    Listing agent Catherine Waggoner License #6502432278

    Listing office CK Home Group 108 Bridle Path Ln, Niles, MI

    Listing date Mar 17, 2025

    MLS# 25009973

    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

    • Prime downtown Niles location offers HIGH visibility and accessibility.
    • Versatile 3,600+ sq. ft. building adaptable for various uses.
    • Currently configured as a medical office with multiple offices, exam rooms, reception, and waiting area.
    • Ample storage space available.
    • Equipped with central air cooling and forced air heating.
    • Metal roof provides durability.

    Overview

    This commercial building, with over 3,600 square feet, is located in downtown Niles, MI. Currently used as a medical office, the property is suitable for medical, dental, legal, or professional services. It can also be adapted for retail, wellness, salon, or co-working use. The building features multiple offices, exam rooms, a reception area, a waiting room, and storage space. The property is situated on a lot of 0.34 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dr Antonio Ray ... Alternative Medicine Practice Alternative Wellness Center Alternative Medicine Practice

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon 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
    -86.248378
    Latitude
    41.817607

    Nearby Similar for Sale

    • $460,000
      8,500 SF

      Niles Commercial Property For Sale

      Well-maintained commercial property with showroom, greenhouse, and residential home.
      1521 E Main Street, Niles, MI 49120
      View Details
    • $435,000
      720 SF

      Niles Commercial Property on M-51

      Commercial property in Niles, MI, with high traffic flow.
      2142 S 11th Street, Niles, MI 49120
      View Details
    • $510,000
      3,200 SF

      Versatile Commercial Property on High-Traffic Street

      40x80 commercial property with live/work space and ample parking.
      2604 S 11th Street, Niles, MI 49120
      View Details
    • $85,000
      1,010 SF

      Commercial Property on High-Traffic Street

      Fixer-upper with business or home-based business potential near Indiana.
      2919 S 11th Street, Niles, MI 49120
      View Details
    • $1,300,000
      3,140 SF

      Retail Property on High-Traffic Corridor

      Retail property in Niles' primary commercial area with high visibility.
      1295 S 11th Street, Niles, MI 49120
      View Details
    • $341,000
      6,000 SF

      Turnkey Industrial Facility on 4.3 Acres

      6,000 SF industrial facility with advanced indoor agriculture setup.
      1760 Renaissance Drive, Niles, MI 49120
      View Details
    • $950,000
      5,280 SF

      Adaptable Office/Medical Space Near Downtown

      Updated office/medical space near downtown Niles and the hospital.
      122 Grant Street, Niles, MI 49120
      View Details
    • $149,000

      Niles Duplex: Investment Opportunity

      Well-located Niles duplex, updated, ideal for investors or owner-occupants.
      527 Howard St., Niles, MI 49120
      View Details
    • $344,000
      6,000 SF

      Turnkey Industrial Facility For Sale

      6,000 SF industrial facility with advanced indoor agriculture setup.
      1760 Renaissance Dr, Niles, MI 49120
      View Details
    • $695,000
      16,000 SF

      Downtown Niles Multi-Tenant Commercial Space

      Multi-tenant commercial space in downtown Niles, Michigan.
      306 E Main St, Niles, MI 49120
      View Details
    • $399,000
      3,600 SF

      Versatile Commercial Building in Niles

      3,600+ sq. ft. commercial building in downtown Niles, MI.
      920 Lambert Street, Niles, MI 49120
      View Details
    • $495,000
      4,800 SF

      Niles Township Grow Facility

      Grow facility on over 4 acres with greenhouses.
      1430 S 3rd St, NilesTownship_Berrien, MI 49120
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - 3,600+ sq. ft. commercial building in downtown Niles, MI
    Where is this medical office space located?
    The property is located at 920 Lambert Street Niles, MI.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: Prime downtown Niles location offers HIGH visibility and accessibility.; Versatile 3,600+ sq. ft. building adaptable for various uses.; Currently configured as a medical office with multiple offices, exam rooms, reception, and waiting area.
    (269) 845-0316
    We can help!
    Listing Contact
    Catherine Waggoner
    Real Estate License ID: 6502432278
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    920 Lambert Street, Niles, MI 49120
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!