Multifamily Property with Three-Street
920 Cedar Street, Niles, MI 49120
For Sale
$290,000
Established multifamily property in Niles with frontage along three streets.
Property Size2,230 SF
Price / SF$130.04
Days on Market62
Property Features for 920 Cedar Street
General Information
Standard status
Size
Property subtype
Additional Details
Road Access
Building Details
Year Built
Listing Agency:
Freedom Realty
Listed By:
Christine Moore · License #s2294
(269) 362-5665
Source:
Bhhssnyder
Added: Sep 9
Changed: Nov 8
Last Checked: Nov 8 at 3:03AM
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 Freedom Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily property in Niles, Michigan, was constructed in 1940 and offers frontage along three streets. The property has an established rental history and is positioned for continued residential income use.
Its three-street frontage provides multiple points of exposure within the Niles market. The source information also identifies potential for property upgrades, although no specific improvements or dimensions are provided.
Its three-street frontage provides multiple points of exposure within the Niles market. The source information also identifies potential for property upgrades, although no specific improvements or dimensions are provided.
Key Highlights
- Multifamily property in Niles, MI
- Constructed in 1940
- Frontage along three streets
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,201
Cap Rate
6.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$364,020
$364.0K
Cap Rate 7%
$260,014
$260.0K
Cap Rate 9%
$202,233
$202.2K
Market Conditions
NOI Build-Up for 2,230 SF
Gross rent
$35.1K $15.72/SF
− Vacancy
−$2.0K −$0.88/SF
EGI
$33.1K $14.84/SF
− OpEx
−$14.9K −$6.68/SF
NOI
$18.2K $8.16/SF
Area
Berrien County, MI
Vacancy
5.60%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$364,020
Cap Rate 7%
$260,014
Cap Rate 9%
$202,233
Alternative Uses
Best Use
Apartment 5plus
$260.0K
$227.5K – $303.4K
NOI $18,201 @ 7.0% cap · market cap 6.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$469.3K
$410.6K – $547.5K
NOI $32,848 @ 7.0% cap · market cap 11.33%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
698
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
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Market
Properties on Market for Multifamily properties in Niles
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - Established multifamily property in Niles with frontage along three streets.
Where is this multifamily property located?
The property is located at 920 Cedar Street Niles, MI.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Multifamily property in Niles, MI; Constructed in 1940; Frontage along three streets
