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    Property profile & analytics
    OFF-MARKET
    Retail space

    115 Main St, Niles, MI 49120-2224

    11,352 SF 0.2 ac lot
    Entity Owned 4-yr Hold ~ Est. High Equity
    Property ID
    US43-3146146
    Property summary
    AI-generated overview

    This exceptional investment opportunity presents a fully occupied, 11,696 square foot industrial building situated on a 0.2-acre lot in the heart of downtown Niles, Michigan. The property boasts a substantial 11,696 square feet of finished space on the main floor, currently leased to a thriving fitness center, guaranteeing consistent rental income. Adding to its financial strength, the building includes nearly 9,000 square feet of clean, usable basement space, offering significant potential for expansion or additional rental opportunities. Two upper-level units are leased as long-term residential spaces, further diversifying the income stream and maximizing the property's return on investment. A comprehensive remodel was completed in 2022, ensuring the building is in excellent condition and well-maintained. Currently operating at 100% occupancy, this property represents a rare chance to acquire a stable, high-performing asset with significant upside potential. The prime downtown location provides excellent visibility and accessibility, making it an attractive proposition for both current tenants and future prospects. This is a turnkey investment ready to generate immediate income and long-term growth. The property's strong tenant base and recent renovations contribute to its exceptional value and make it an ideal addition to any investment portfolio.

    Property profile
    Verified
    Property type Retail space
    Use group RETAIL STORES (PERSONAL SERVICES)
    Total area 11,352 SF
    Lot 0.2 ac (8,712 SF)
    Zoning code CB
    APN 72-3920-0003-00-8
    UPID US43-3146146
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Sport Track Physical Therapy and Human Performance Medical Clinic
    • Elevate 24 SLR Gym & Fitness Center
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    by Request
    Owner & transaction history
    Vision Real Estate Holdings LLC · 4 yrs held
    Vision Real Estate Holdings LLC
    since 2021
    Last sale
    $133,000
    6 recorded transactions
    2024
    2023
    2021
    $133,000
    2017
    $65,000
    2008
    $60,000
    2005
    Zoning & alternative use
    CB · Niles, MI
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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