Industrial Flex Property with
For Sale
Contact for pricing
2534 S 11th Street, Niles, MI 49120
Flex-style commercial property with newly remodeled offices, lab space, four overhead doors, and more than 50 parking spaces.
Property Size12,502 SF
Price / SF$143.98
Days on Market428
Property Features for 2534 S 11th Street
General Information
Standard status
Active
Size
12,502 SF
Total Parking Spaces
80
Property subtype
Industrial, Retail, Office
Building Details
Year Built
1947
Buildings
3
Units
3
Listing Agency:
D. Mottl Realty LLC
Listed By:
Matthew Money · License #6501428556
Source:
Crexi
Added: Jun 20, 2025
Changed: Aug 14
Last Checked: Aug 14 at 7:59AM
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 D. Mottl Realty LLC
Investment Insights
Based on property information with market context.
This commercial flex property offers more than 12,000 square feet of versatile space on approximately 2 acres, with four overhead doors supporting industrial and light manufacturing workflows. The interior includes newly remodeled office spaces and restrooms, and the basement level is described as a functional lab. Additional improvements include multiple workshops and a loading dock, along with a greenhouse.
The property is located in Niles Township on high-traffic S 11th Street, providing direct access for customers, employees, and deliveries.
Additional site and utility highlights include three-phase electric and more than 50 parking spaces. Auto lifts are not included in the sale, and proof of funds is required prior to showing.
The property is located in Niles Township on high-traffic S 11th Street, providing direct access for customers, employees, and deliveries.
Additional site and utility highlights include three-phase electric and more than 50 parking spaces. Auto lifts are not included in the sale, and proof of funds is required prior to showing.
Key Highlights
- Approximately 12,000+ SF commercial/flex space on about 2 acres in Niles Township
- High‑traffic frontage on S 11th Street with access to 50+ parking spaces
- Four overhead doors plus loading dock for efficient industrial or commercial operations
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$137,727
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.65%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,754,540
$2.8M
Cap Rate 7%
$1,967,529
$2.0M
Cap Rate 9%
$1,530,300
$1.5M
Market Conditions
NOI Build-Up for 12,502 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$213.0K $17.04/SF
− Vacancy
−$29.4K −$2.35/SF
EGI
$183.6K $14.69/SF
− OpEx
−$45.9K −$3.67/SF
NOI
$137.7K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,754,540
Cap Rate 7%
$1,967,529
Cap Rate 9%
$1,530,300
Alternative Uses
Best Use
Office B
$1.97M
$1.72M – $2.30M
NOI $137,727 @ 7.0% cap · market cap 7.65%
Second Best
Flex RnD
$894.2K
$782.4K – $1.04M
NOI $62,595 @ 7.0% cap · market cap 3.48%
Theoretical Best
Office A
$2.63M
$2.30M – $3.07M
NOI $184,153 @ 7.0% cap · market cap 10.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
180
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex-style commercial property with newly remodeled offices, lab space, four overhead doors, and more than 50 parking spaces.
Where is this flex space located?
The property is located at 2534 S 11th Street Niles, MI.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Approximately 12,000+ SF commercial/flex space on about 2 acres in Niles Township; High‑traffic frontage on S 11th Street with access to 50+ parking spaces; Four overhead doors plus loading dock for efficient industrial or commercial operations
