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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2190 Industrial Dr Niles, MI 49120-1233

    • Manufacturing properties
    • 23,896 SF
    • 1.87 lot acres
    OFF-MARKET
    Last Sale
    Oct 30, 2024
    Value Estimations
    $985,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-3693107
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Mintech LLC / Metal Fabricator

    Property Details for 2190 Industrial Dr

    Year built
    2016
    Lot size
    1.87 lot acres
    Property size
    23,896 SF
    Zone code
    IND
    Property type
    Manufacturing properties
    APN
    71-5360-0005-01-6
    APU
    7153600005016

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $986,000
      Market price range: $316k - $1.01M
      AI Estimate
      $986,000
      Market price range: $316k - $1.01M

    • 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

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Niles
    County
    Berrien
    State
    Michigan
    Longitude
    -86.2264
    Latitude
    41.849
    CBSA code
    35660
    CBSA name
    NILES-BENTON HARBOR, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $37,135
    $0.00
    $0.00
    $437,000
    -
    $0.00
    $0.00
    $874,000

    Comparable in this City

    • Value Estimation by Request
      9,588 SF

      1508 15th St

      MANUFACTURING (LIGHT) • 9,588 SF
      1508 15th St, Niles, MI 49120-4214
      View Details
    • Value Estimation
      $1,075,000
      38,294 SF

      2120 Industrial Dr

      MANUFACTURING (LIGHT) • 38,294 SF
      2120 Industrial Dr, Niles, MI 49120-1233
      View Details
    • Value Estimation
      $8,055,000
      423,546 SF

      1631 Lk St

      MANUFACTURING (LIGHT) • 423,546 SF
      1631 Lk St, Niles, MI 49120-1270
      View Details
    • Value Estimation
      $4,255,000
      300,000 SF

      2070 3rd St

      MANUFACTURING (LIGHT) • 300,000 SF
      2070 3rd St, Niles, MI 49120-4006
      View Details
    • Value Estimation by Request
      3,374 SF

      2604 11th St

      MANUFACTURING (LIGHT) • 3,374 SF
      2604 11th St, Niles, MI 49120-4418
      View Details
    • Value Estimation by Request
      17,520 SF

      1420 11th St

      MANUFACTURING (LIGHT) • 17,520 SF
      1420 11th St, Niles, MI 49120-4202
      View Details

    Similar Nearby for Sale

    • $231,000
      15,000 SF

      Niles Industrial Park Opportunity

      15,000 SF Warehouse, Manufacturing, Distribution
      1919 Industrial Dr, Niles, MI 49120
      View Details
    • $515,000
      3,200 SF

      Versatile Commercial Property on High-Traffic Street

      40x80 commercial property with live/work space and ample parking.
      2604 S 11Th St, Niles, MI 49120
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    • $1,500,000
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      Versatile Industrial Building in Niles

      31,556 SF industrial building in Niles Industrial Park.
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    • New
      $349,000
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      Turnkey Industrial Facility with Agriculture Infrastructure

      6000 sqft industrial facility on 4.3 acres with advanced infrastructure.
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    • $1,700,000
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      Versatile Industrial Building in Niles

      31,556 SF industrial building in Niles Industrial Park.
      2112 Industrial Dr, Niles, MI 49120
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    • $400,000

      Versatile Logistics Property Near Interchange

      Former cross-dock facility with potential for transportation or warehousing.
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    Similar Nearby for Lease

    • $4 SF/Yr
      497,091 SF

      Simplicity Building: Niles, MI Industrial Space

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    • $3 SF/Yr
      70,946 SF

      Niles Industrial Plant - 70,946 SF

      Large Manufacturing Space Available
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      View Details
    • $5 SF/Yr
      25,000 SF

      Industrial Space Available for Lease

      25,000 square foot industrial property for lease.
      2232 South 11Th St, Niles, MI 49120
      View Details
    • $12 SF/Yr
      1,041 SF

      Downtown Niles Flex Office Space

      Flex office or studio space available in downtown Niles.
      302 E Main St, Niles, MI 49120
      View Details
    • $19 SF/Yr
      3,000 SF

      Retail Space with Drive-Thru Potential

      Retail space with high traffic and national co-tenants.
      2714 S 11Th St, Niles, MI 49120
      View Details
    • $15 SF/Yr
      15,800 SF

      Niles, MI Office Suites Available

      Downtown Niles office space, flexible sizes.
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      View Details
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    Niles, MI 49120-1233
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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