Industrial Building with Overhead
For Sale
$510,000
2604 S 11th Street, Niles, MI 49120
COMMERCIAL - Niles, MI
Property Size3,200 SF
Lot Size0.96 Acres
Price / SF$159.38
Days on Market309
Property Features for 2604 S 11th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Light Industria
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking
10
Interior features
Broadband
Elementary school district
Brandywine
Middle school district
Brandywine
High school district
Brandywine
Directions
Take south 11th and the property is on the west side of M51 (11th Street). Business Sign states ''West River Machine''
Subdivision
Southwestern Michigan - S
Standard status
Active
APN
11-14-0860-0027-01-6
Size
3,200 SF
Lot size
0.96 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
per title commitment
Tax Annual Amount
1241
Legal Description
per title commitment
Utilities
Utilities
Cable Available
Heating system
Forced Air, Baseboard
Water source
Well
Building Details
Year built
1993
Number of units
1
Building materials
Metal Siding
Roof type
Composition
Listing Agency:
D Mottl Realty Group LLC
(269) 591-0035
Listed By:
Matthew Money
(574) 261-1226
Added: Oct 17, 2025
Changed: Aug 4
Last Checked: Aug 21 at 1:06AM
MLS# 25053620
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.
Investment Insights
Based on property information with market context.
This 40x80 commercial/industrial property has been cleaned and prepared for its next use. The building includes a 12x12 overhead door, three-phase electric, and compressed air lines throughout, with a compressor housed in a rear shed. Inside, you’ll find two offices, a full bath, and a loft for storage.
The property also includes separate living quarters with a bedroom, kitchen, full bath, and a private entrance, supporting live/work or on-site management. A deep lot provides parking and room to consider an additional structure.
Located on high-traffic S 11th Street in Niles, it also sits on the Indiana-Michigan River Valley Paved Trail, offering public-facing exposure for a variety of operations.
The property also includes separate living quarters with a bedroom, kitchen, full bath, and a private entrance, supporting live/work or on-site management. A deep lot provides parking and room to consider an additional structure.
Located on high-traffic S 11th Street in Niles, it also sits on the Indiana-Michigan River Valley Paved Trail, offering public-facing exposure for a variety of operations.
Key Highlights
- 40x80 commercial property on high‑traffic 11th Street in Niles
- 12x12 overhead door plus three‑phase electric and compressed air lines throughout (compressor in rear shed)
- Interior includes two offices, a full bath, and a loft for storage
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
$14,296
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
2.80%
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%
$285,920
$285.9K
Cap Rate 7%
$204,229
$204.2K
Cap Rate 9%
$158,844
$158.8K
Market Conditions
NOI Build-Up for 3,200 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
$22.3K $6.96/SF
− Vacancy
−$1.8K −$0.58/SF
EGI
$20.4K $6.38/SF
− OpEx
−$6.1K −$1.91/SF
NOI
$14.3K $4.47/SF
Area
Berrien County, MI
Vacancy
8.30%
Lease Rate
$6.96 /SF/Yr
Expense Ratio
30.00%
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%
$285,920
Cap Rate 7%
$204,229
Cap Rate 9%
$158,844
Alternative Uses
Best Use
Industrial
$204.2K
$178.7K – $238.3K
NOI $14,296 @ 7.0% cap · market cap 2.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$673.4K
$589.2K – $785.6K
NOI $47,136 @ 7.0% cap · market cap 9.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
183
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - 40x80 commercial building includes offices, overhead door, three-phase electric, and compressed air lines.
Where is this manufacturing property located?
The property is located at 2604 S 11th Street Niles, MI.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: 40x80 commercial property on high‑traffic 11th Street in Niles; 12x12 overhead door plus three‑phase electric and compressed air lines throughout (compressor in rear shed); Interior includes two offices, a full bath, and a loft for storage
