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    2513-2517 Niles Avenue Saint Joseph, MI 49085

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    For Sale
    $385,000

    Highly visible commercial property with multiple units and income potential.

    Type:Commercial/Industrial
    Property size:
    3,988 SF
    Lot size:
    0.32 Acres
    Added:
    Mar 12, 2026
    Days on Market:
    21
    Last Refresh:
    Mar 25 at 11:29 pm

    Property Features for 2513-2517 Niles Avenue

    General Information

    Standard status
    Active
    Size
    3,988 SF
    Lot size
    0.32 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1950

    We can help!

    Listing Contact
    Michael McCausland

    Listing agent Michael McCausland License #6501201614

    Listing office @properties Christie's International R.E.

    Listing date Mar 12, 2026

    Source Exitrealty

    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 @properties Christie's International R.E.

    Overview

    Commercial Property on Niles Avenue

    This commercial property on Niles Avenue in St. Joseph offers high visibility and the possibility of leasing three units. One building offers 3024 square feet, with an additional 552 square feet, totaling 3,576 square feet for addresses 2517 & 2519. A separate, freestanding 412-square-foot building is also available for lease. The property includes three addresses: 2513, 2517, and 2519 Niles Avenue. Traffic counts in the area have been reported at 23,000 vehicles per day. Parking is available for approximately 20 cars. A billboard leased by Adams Outdoor Advertising generates $3200 annually. The basement features a B-Dry Waterproofing System with a lifetime warranty, regardless of ownership. The roof on 2517-2519 Niles was replaced last year and includes a 20-year warranty. Adams Outdoor Advertising lease a billboard above the building generating $3000 per year. The basement has a B-Dry Waterproofing System with a lifetime warranty regardless of the ownership. The roof was replaced last year on 2515 & 2517 Niles with a 20 year warranty.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Saint Joseph
    County
    Berrien
    State
    Michigan
    Longitude
    -86.4849
    Latitude
    42.0895

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    FAQs

    What type of property is this?
    Retail space - Highly visible commercial property with multiple units and income potential.
    Where is this retail space located?
    The property is located at 2513-2517 Niles Avenue Saint Joseph, MI.
    What is the asking price?
    The asking price for this property is $385,000.
    What are key features of this property?
    This property features: High‑visibility commercial property on Niles Ave. with 23,000 vehicles per day.; Potential for leasing up to 3 separate units.; Main building offers **3,576 sq ft of office space**.
    (269) 469-0700
    We can help!
    Listing Contact
    Michael McCausland
    Real Estate License ID: 6501201614
    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.

    More about this property
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