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Property profile & analytics
OFF-MARKET
Estimated value
$1,160,000
Manufacturing properties
1840 Foundation Dr, Niles, MI 49120-8989
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US43-2766782
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
2000
Total area
27,980 SF
Lot
8.46 ac (368,518 SF)
Zoning code
IND INDUSTRIAL
APN
05-0105-0008-13-9
UPID
US43-2766782
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
-
Red Rabbit Automation Production Facility
-
Wittorp Manufacturing Corporation Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$957k
Blend (final)
Blend
$1.16M
Owner & transaction history
Bonnell Aluminum Niles LLC · 4 yrs held
Bonnell Aluminum Niles LLC
since 2021
Last sale
$1.2M
7 recorded transactions
Zoning & alternative use
IND INDUSTRIAL · Niles, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.7M
+148.1%
Warehouse, storage
$1.1M
+61.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Niles submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Niles submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,490,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$700,000
Current use
AUTO REPAIR, GARAGE
$1,740,000
Change: +148% · Conversion: Easy
WAREHOUSE, STORAGE
$1,135,000
Change: +62% · Conversion: Easy
Blend value · Realmo final
$1.16M
Range $1.04M – $1.28M · ±10% · vs last sale $1.20M (Dec 14 2021)
Last sale anchor
$1.20M
Dec 14 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$41 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$17,692
Tax year 2023
Assessed value
$423,900
Assessed 2024
Previous assessed
$426,900
-0.7% YoY
Effective rate
4.17%
On assessed value
Total market value
$847,800
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
2000
Stories
1
Total area
27,980 SF
Lot
8.46 ac (368,518 SF)
Zoning code
IND INDUSTRIAL
APN
05-0105-0008-13-9
UPID
US43-2766782
Jurisdiction
BERRIEN
Zoning & alternative use
IND INDUSTRIAL · Niles, MI
Zoning IND INDUSTRIAL · permitted uses
IND INDUSTRIAL · Niles, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Niles. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$700,000
AUTO REPAIR, GARAGE
Est. value
$1.7M
WAREHOUSE, STORAGE
Est. value
$1.1M
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2000
Stories
1
Lot
8.46 ac
Current owner
From public records · entity-resolved
Bonnell Aluminum Niles LLC
Entity
Mailing address
2005 MAYFLOWER RD, NILES, MI 49120-8625
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 4, 2024
—
Bonnell Aluminum Niles LLC
—
Deed
related
—
Dec 14, 2021
$1,195,000
Bonnell Aluminum Niles LLC
Vickers Real Estate Investments LLC
Warranty Deed
—
Apr 9, 2019
—
Vickers Real Estate Investments LLC
—
Deed
related
$405,000 · Lake City Bank
May 1, 2018
—
Vickers Real Estate Invesmetmes LLC
—
Deed
related
$283,500 · Lake City Bank
Apr 24, 2018
$735,000
Vickers Real Estate Invesments LLC
180 Foundation Michign LLC
Deed
$405,000 · Lake City Bank
Sep 15, 2017
—
180 Foundation Michigan LLC
R & A Properties LLC
Warranty Deed
—
Aug 7, 2017
$550,000
180 Foundation Michigan LLC
R & A Properties LLC
Sheriffs Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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