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Properties
Retail space
MI
Niles
49120
105 Main St

Property profile

105 Main St Niles, MI 49120

OFF-MARKET

Retail space

Property ID

US43-3678370

5,880 SF 0.04 ac lot

Entity Owned 3-yr Hold ~ Est. High Equity

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This exceptional three-story mixed-use building in Niles, Michigan presents a unique investment opportunity. Completely renovated within the last three years, this 5,700 square foot property boasts a captivating urban aesthetic, seamlessly blending original architectural details like soaring ceilings and exposed brick with modern upgrades. The main floor is currently leased to Radio Shack, providing immediate income. The second floor comprises two separate one-bedroom, one-bathroom units, each with its own keyed entry, offering additional rental potential. The highlight is the stunning third-floor unit, a fully furnished 1900 square foot, three-bedroom, two-bathroom residence completed in 2024. This unit is ideal for short-term or long-term rentals. The flexibility of this property allows for various income strategies

Property type Retail space

Use group RETAIL STORES (PERSONAL SERVICES)

Total area 5,880 SF

Lot 0.04 ac (1,960 SF)

Zoning code CB

APN 72-3920-0001-03-0

UPID US43-3678370

Implied cap rate, NOI & suggested price

Cap rate vs submarket · NOI estimate · 3 price anchors

Hotel & Motel Resort
Charitable Organization Social Service Agency
Church
Electronics & Wireless Store

105 Main St Niles, MI 49120-2224

Niles metro Census 20500 NILES-BENTON HARBOR, MI METROPOLITAN STATISTICAL AREA

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CAP Approach CAP

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Blend (final) Blend

$410k

since 2022

Last sale

$320,000

2 recorded transactions

2022

$320,000

2020

$115,000

Zoning description

CB Central Business District NC Neighborhood Center RC Regional Commercial OC Office/Commercial IND Industrial OS Open Space MHP Mobile Home Park WHP Wellhead Protection Overlay 4-2 CITY OF NILES - Zoning Ordinance ZONIN…

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi

Comparable in this City

Value Estimation
$110,000

2,028 SF

224 Frnt St

RETAIL STORES (PERSONAL SERVICES)

224 Frnt St, Niles, MI 49120-2223

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Value Estimation
$175,000

5,080 SF

213 Main St

RETAIL STORES (PERSONAL SERVICES)

213 Main St, Niles, MI 49120-2366

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Value Estimation
$350,000

5,480 SF

303 Main St

RETAIL STORES (PERSONAL SERVICES)

303 Main St, Niles, MI 49120-2305

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Value Estimation
$70,000

952 SF

113 2nd St

RETAIL STORES (PERSONAL SERVICES)

113 2nd St, Niles, MI 49120-2219

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Value Estimation
$405,000

11,760 SF

1457 3rd St

STORE, RETAIL OUTLET

1457 3rd St, Niles, MI 49120-4024

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Value Estimation
$215,000

6,272 SF

306 Wayne St

RETAIL STORES (PERSONAL SERVICES)

306 Wayne St, Niles, MI 49120

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New Multi-Tenant Retail Development

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Riverfront Shopping Center

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16-110 E Main Street, Niles, MI 49120

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Riverfront Shopping Center Retail Space

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Downtown Retail Suites

Riverfront shopping center offers street and pedestrian visibility with ample on-site parking and multiple retail suites available.

16-110 E Main Street #16 & 20, Niles, MI 49120

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