Niles Office Building For
For Sale
$3,400,000
2100 South 11th Street, Niles, MI 49120
Office building with 27377 square feet of space.
Property Size27,377 SF
Price / SF$124.19
Days on Market196
Property Features for 2100 South 11th Street
General Information
Standard status
Active
Size
27,377 SF
Property subtype
Office
Listing Agency:
CBRE
Listed By:
Cameron Timmer
(616) 485-4131
Source:
Cbre
Added: Mar 25
Changed: Oct 4
Last Checked: Oct 5 at 5:06PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE
Investment Insights
Based on property information with market context.
This commercial real estate offering consists of an office building with a total area of 27377 square feet. The property is located in Niles, Michigan.
Key Highlights
- Office building
- 27377 square feet of space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$301,595
Cap Rate
8.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,031,900
$6.0M
Cap Rate 7%
$4,308,500
$4.3M
Cap Rate 9%
$3,351,056
$3.4M
Market Conditions
NOI Build-Up for 27,377 SF
Gross rent
$466.5K $17.04/SF
− Vacancy
−$64.4K −$2.35/SF
EGI
$402.1K $14.69/SF
− OpEx
−$100.5K −$3.67/SF
NOI
$301.6K $11.02/SF
Area
Berrien County, MI
Vacancy
13.80%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,031,900
Cap Rate 7%
$4,308,500
Cap Rate 9%
$3,351,056
Alternative Uses
Best Use
Office B
$4.31M
$3.77M – $5.03M
NOI $301,595 @ 7.0% cap · market cap 8.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.76M
$5.04M – $6.72M
NOI $403,259 @ 7.0% cap · market cap 11.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
274
Businesses Nearby
Explore this area
Business Placement
Demographics for 49120, MI
37,076
Population
15,581
Households
2.4
Avg Household Size
43
Median Age
21%
College-Educated
92%
High-School Grad
116.5 sq mi
ZIP Area
318
Density / Sq Mi
$61,940
Median Household Income
$38,779
Median Earnings
$911
Median Rent
$166,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Office building with 27377 square feet of space.
Where is this office building located?
The property is located at 2100 South 11th Street Niles, MI.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: Office building; 27377 square feet of space
