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Property profile & analytics
FOR LEASE
Strip malls
2726 S 11Th St 60, Niles, MI 49120
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US43-3174236
For Lease
1 / 22
$2,330,000
2726 S 11Th St,Unit 60, Niles, MI 49120
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2004
Total area
15,000 SF
Lot
2.26 ac (98,271 SF)
Zoning code
GB
APN
14-0860-0050-00-0
UPID
US43-3174236
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
-
JC'S Grill Restaurant
-
Total Control Paintball and Airsoft Pro Shop Electronics & Wireless Store (Bike/Boat/Book/etc) Store
-
Wild Bill's Tobacco (Bike/Boat/Book/etc) Store
-
AT&T Store Mobile Phone Store Electronics & Wireless Store
-
Edward Jones - Financial Advisor: Shane R Shidler, CFP®|AAMS™|CRPC™ Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.57M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.33M
Owner & transaction history
Sibley Real Estate Ventures LLC · 6 yrs held
Sibley Real Estate Ventures LLC
since 2020
Last sale
$2.2M
1 recorded transaction
Zoning & alternative use
GB · Niles, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$2,400,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,780,000
6.5%
$2,565,000
7%
$2,385,000
Alternative Use
Use
Estimation
RESTAURANT
$2,210,000
Change: 0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,820,000
Change: 0% · Conversion: Easy
OFFICE BUILDING
$1,540,000
Change: 0% · Conversion: Moderate
Blend value · Realmo final
$2.33M
Range $2.10M – $2.56M · ±10% · vs last sale $2.18M (Mar 31 2020)
Last sale anchor
$2.18M
Mar 31 2020
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
$155 / 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
$22,308
Tax year 2023
Assessed value
$617,800
Assessed 2024
Previous assessed
$552,800
+11.8% YoY
Effective rate
3.61%
On assessed value
Total market value
$1,235,600
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
2004
Stories
1
Total area
15,000 SF
Lot
2.26 ac (98,271 SF)
Zoning code
GB
APN
14-0860-0050-00-0
UPID
US43-3174236
Jurisdiction
BERRIEN
Zoning & alternative use
GB · Niles, MI
Zoning GB · permitted uses
GB · 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
RESTAURANT
Est. value
$2.2M
COMMERCIAL (GENERAL)
Est. value
$1.8M
OFFICE BUILDING
Est. value
$1.5M
RESTAURANT
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
2004
Stories
1
Lot
2.26 ac
Current owner
From public records · entity-resolved
Sibley Real Estate Ventures LLC
Entity
Mailing address
123 N MAIN ST STE #7, CROWN POINT, IN 46307-4195
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 31, 2020
$2,175,000
Sibley Real Estate Ventures LLC
Michiana I LLC
Warranty Deed
$1,621,500 · Old Plank Trail Community Bank 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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