Redevelopment Property in Great
For Sale
Contact for pricing
Pending
2640 S 11th Street, Niles, MI 49120
Redevelopment property suitable for automotive or retail use.
Property Size5,840 SF
Days on Market828
Property Features for 2640 S 11th Street
General Information
Standard status
Pending
Size
5,840 SF
Property subtype
Retail
Zoning
General Business
Building Details
Year Built
1940
Year Renovated
1992
Buildings
2
Stories
1
Units
2
Listing Agency:
NAI Cressy - Mishawaka
Listed By:
Jim Ringler · License #MI 6502346676
(269) 699-5502
Source:
Crexi
Added: Jul 1, 2024
Changed: Oct 1
Last Checked: Oct 5 at 6:54PM
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 NAI Cressy - Mishawaka
Investment Insights
Based on property information with market context.
This property, currently used as a used car sales business, offers a redevelopment opportunity in a favorable location. The property size is 5840 square feet. It is suitable for automotive or retail purposes.
Key Highlights
- Great location
- Redevelopment property
- Current use: used car sales business
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,624
Cap Rate
5.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,212,480
$1.2M
Cap Rate 7%
$866,057
$866.1K
Cap Rate 9%
$673,600
$673.6K
Market Conditions
NOI Build-Up for 5,840 SF
Gross rent
$90.4K $15.48/SF
− Vacancy
−$3.8K −$0.65/SF
EGI
$86.6K $14.83/SF
− OpEx
−$26.0K −$4.45/SF
NOI
$60.6K $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%
$1,212,480
Cap Rate 7%
$866,057
Cap Rate 9%
$673,600
Alternative Uses
Best Use
Retail
$866.1K
$757.8K – $1.01M
NOI $60,624 @ 7.0% cap · market cap 5.05%
Second Best
Industrial
$372.7K
$326.1K – $434.9K
NOI $26,091 @ 7.0% cap · market cap 2.17%
Theoretical Best
Office A
$1.23M
$1.08M – $1.43M
NOI $86,022 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
183
Businesses Nearby
66k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 64%
Shops & Services 23%
Dining 10%
Electronics 2%
Rural King
Home Improvements & Furnishings
42,506 visits/mo
0.3 miles
Phillips 66
Shops & Services
7,829 visits/mo
0.4 miles
BIGGBY COFFEE
Dining
6,622 visits/mo
0.2 miles
Wild Bill's Tobacco
Shops & Services
3,467 visits/mo
0.3 miles
Campbell Ford, Inc
Shops & Services
2,310 visits/mo
0.4 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Automotive property - Redevelopment property suitable for automotive or retail use.
Where is this automotive property located?
The property is located at 2640 S 11th Street Niles, MI.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Great location; Redevelopment property; Current use: used car sales business
