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Property summary
This exceptional investment opportunity presents a 47-unit apartment building located at 404 E Main St, Niles, Michigan. The property, a repurposed and extensively renovated historic building (completed in 2022), boasts 31,047 square feet across four stories and sits on a 0.51-acre lot (APN: 11-72-4560-0024-00-4). The building features a mix of unit sizes, each equipped with a private restroom, refrigerator, and individual heating unit. Significant upgrades include a new boiler and… electrical improvements. Currently operating at near 100% occupancy, this stabilized investment offers a compelling 8.9% cap rate and a price per unit of $58,511, with an asking price of $2,750,000. Its prime downtown location provides convenient access to local amenities, including restaurants, shops, and parks. The property's proximity to major highways (US 12 and US 31) and the Indiana state line expands its appeal to a wider workforce. Two additional lots included in the sale provide ample parking. The property benefits from local, on-site management and maintenance, contributing to its consistently high occupancy rates. The permitted zoning is CB. This is a rare opportunity to acquire a well-maintained, high-performing multifamily asset in a thriving Michigan community.
Ownership intelligence
Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.
Owner contacts
Skip-traced phones and e-mails of the owner. Included with a plan.
Debts
Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.
Property tax · 2023
Value estimate
· Oct 2026Realmo valuation models over county records.
Recently sold
No data for this sectionNo cleaned sale $/SF benchmark exists for this use type in this ZIP, submarket or county yet.
Cap rate analysis
No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.
Zoning insight
Location intelligence
Demand index: how under-served this business type is around this point — modeled from the LocInt grid (area demand vs. what already operates, adjusted by real visit traffic). Higher means stronger unmet demand.
Location
Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.
Comparables
4 properties nearbyComparable nearby
Instant AI valuation built from comps, income signals, and proprietary benchmarks.A defensible range, not a single guess.
from $199/month
- GBA
- 31,047 SF
- Lot area
- 0.3 ac
- Year built
- 1926
- Stories
- 4
- APN
- 72-4560-0024-00-4
- Zoning
- CB
- Assessed value · 2024
- $293,800
- Annual tax · 2023
- $8,603
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $199/month
Price sensitivity
The rate is the decision lever; valuation is the consequence.
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Registration is required before the official district profile is shown.
Official district profile
CB Central Business District NC Neighborhood Center RC Regional Commercial OC Office/Commercial IND Industrial OS Open Space MHP Mobile Home Park WHP Wellhead Protection Overlay 4-2 CITY OF NILES - Zoning Ordinance ZONIN…
Unlock the evidence behind ownership: portfolio, transactions, debt and any signals we can model, to help you decide who to contact next.
Registration is required before any owner information is shown.
Phones and e-mails of the people behind this property's owner, traced from licensed contact data.
Owner phones and e-mails come with a plan - traced from licensed contact data, with verification and Do-Not-Call flags on every number.
The mortgage data comes with a plan: recorded loans of the owner - lender, amount, rate and the estimated maturity - as part of the Ownership Intelligence workspace.
Registration is required before any owner information is shown.
- 10 Targeted Leads
- 1 Full Property Report
- Lead Lists by Intent
- Signals & Scores
- Building Details
- Value Estimation
- Cap Rate Evaluation
- Liens & Mortgages
- Ownership & Contacts
- Local Market trends
-
Zoning Insight— not in this plan -
Location Analytics— not in this plan
- 300 Targeted Leads a month
- 30 Full Property Reports
- Lead Lists by Intent
- Signals & Scores
- Building Details
- Value Estimation
- Cap Rate Evaluation
- Liens & Mortgages
- Ownership & Contacts
- Local Market trends
- Zoning Insight
-
Location Analytics— not in this plan
- 1,500 Targeted Leads a month
- 150 Full Property Reports
- Lead Lists by Intent
- Signals & Scores
- Building Details
- Value Estimation
- Cap Rate Evaluation
- Liens & Mortgages
- Ownership & Contacts
- Local Market trends
- Zoning Insight
- Location Analytics
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