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Property profile & analytics
OFF-MARKET
Estimated value
$985,000
Manufacturing properties
2190 Industrial Dr, Niles, MI 49120-1233
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US43-3693107
Property summary
AI-generated overview
This exceptional 62,392-square-foot industrial building, situated on a 3.84-acre lot in the Niles Industrial Park, presents a unique sublease opportunity. Built in 1972, this single-story structure boasts a versatile layout ideal for manufacturing operations. The property features 7,977 square feet of office space, complementing the expansive warehouse area. High ceilings ranging from 12 to 22 feet provide ample vertical space. Loading and unloading are efficient with three dock-high doors and three drive-in doors. The building is equipped with robust power (2000A/480V/3Ph) with buss duct throughout, ensuring sufficient capacity for demanding operations. Additional features include an automatic standby generator, air rotation, gas unit heat, and compressed air plumbing throughout. Municipal utilities are readily available. The location offers excellent accessibility, being within two miles of US-12 and three miles of M-60, providing convenient access to major transportation routes. The property is zoned Ind-Industrial (APN: 71-5360-0004-02-8, Berrien County). This is a sublease only.
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
2016
Total area
23,896 SF
Lot
1.87 ac (81,501 SF)
Zoning code
IND
APN
71-5360-0005-01-6
UPID
US43-3693107
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
-
Mintech LLC Metal Fabrication Plant Factory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$986k
Blend (final)
Blend
$985k
Owner & transaction history
Essential Re Holdings LLC · 1 yrs held
Essential Re Holdings LLC
since 2024
3 recorded transactions
Zoning & alternative use
IND · Niles, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.5M
+148.1%
Warehouse, storage
$970,000
+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
by Request
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)
$600,000
Current use
AUTO REPAIR, GARAGE
$1,490,000
Change: +148% · Conversion: Easy
WAREHOUSE, STORAGE
$970,000
Change: +62% · Conversion: Easy
Blend value · Realmo final
$985k
Range $887k – $1.08M · ±10%
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
$37,135
Tax year 2023
Assessed value
$437,000
Assessed 2024
Previous assessed
$437,000
+0.0% YoY
Effective rate
8.50%
On assessed value
Total market value
$874,000
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
2016
Cooling
NONE
Stories
1
Total area
23,896 SF
Lot
1.87 ac (81,501 SF)
Zoning code
IND
APN
71-5360-0005-01-6
UPID
US43-3693107
Jurisdiction
BERRIEN
Zoning & alternative use
IND · Niles, MI
Zoning IND · permitted uses
IND · 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
$600,000
AUTO REPAIR, GARAGE
Est. value
$1.5M
WAREHOUSE, STORAGE
Est. value
$970,000
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
2016
Cooling
Yes
Stories
1
Lot
1.87 ac
Current owner
From public records · entity-resolved
Essential Re Holdings LLC
Entity
Mailing address
444 E MAIN ST, FORT WAYNE, IN 46802-1911
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 3, 2026
—
Essential Re Holdings LLC
—
Deed
related
$2,050,000 · Wesbanco Bank INC
Oct 30, 2024
—
Essential Re Holdings LLC
Store Capital Acquisitions LLC
Declaration
related
$1,591,080 · Premier Bank
Dec 7, 2018
—
Store Capital Acquisitons LLC
Four Flags Leasing LLC
Deed
$2,800,000 · Citibank NA
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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