Building Details

Year Built 1988

Buildings 1

Listing Agency: Front Door Real Estate Team

Listed By: Heather Flannery Show Phone

Source: Katie-k

Added: Sep 8 Changed: Oct 25 Last Checked: Oct 7 at 5:22PM

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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 Front Door Real Estate Team

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Investment Insights

Based on property information with market context.

This 2,700-square-foot storefront property was built in 1988 and includes three bathrooms within a flexible commercial layout. A roof replacement completed in 2021 adds a recent building improvement, while the substantial parcel supports the property’s storefront configuration.

The building is located at 2229 S 11th St in Niles, Michigan, with 186 feet of road frontage. Its street-facing position provides direct exposure along the roadway for a range of retail or other storefront-oriented commercial uses.

Key Highlights

• 2,700 square feet of storefront commercial space
• Three bathrooms within the building
• 186 feet of road frontage

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$28,028

Cap Rate

7.02%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$560,560 $560.6K

Cap Rate 7%

$400,400 $400.4K

Cap Rate 9%

$311,422 $311.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,700 SF

Gross rent

$41.8K $15.48/SF

− Vacancy

−$1.8K −$0.65/SF

EGI

$40.0K $14.83/SF

− OpEx

−$12.0K −$4.45/SF

NOI

$28.0K $10.38/SF

Area

Berrien County, MI

Vacancy

4.20%

Lease Rate

$15.48 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$560,560

Cap Rate 7%

$400,400

Cap Rate 9%

$311,422

Alternative Uses

Best Use

Retail

$400.4K

$350.4K – $467.1K (±1% cap)

NOI $28,028 @ 7.0% cap · market cap 7.02%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$568.2K

$497.1K – $662.9K (±1% cap)

NOI $39,771 @ 7.0% cap · market cap 9.97%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Jess Kellem's Motor ... Car Dealership

Suggested Use

Top Pick Law Firm Real Estate Agency Hair Salon HVAC Service Electrical Service Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

181

Businesses Nearby

150k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Superstores 57% Shops & Services 19% Home Improvements & Furnishings 19% Dining 4%

Walmart Superstores

86,498 visits/mo 0.4 miles

Tractor Supply Co. Home Improvements & Furnishings

28,334 visits/mo 0.3 miles

Murphy USA Shops & Services

14,575 visits/mo 0.4 miles

Phillips 66 Shops & Services

7,829 visits/mo 0.1 miles

BIGGBY COFFEE Dining

6,622 visits/mo 0.3 miles

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

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - Commercial storefront with three bathrooms, a newer roof, and a sizable parcel for business operations.

Where is this storefront property located?

The property is located at 2229 S 11th St 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: 2,700 square feet of storefront commercial space; Three bathrooms within the building; 186 feet of road frontage