2500 Niles RdSt. Joseph, MI 49085

Property Details for 2500 Niles Rd

Year built

1987

Lot size

3.33 AC

Property size (Sq ft)

27,935 SF

Zone code

B2 - RET/SERV

Property type

Medical offices

Property subtype

Medical space

APN

18-0002-0044-08-5

APU

1800020044085

Description

This exceptional multi-tenant medical office building, located at 2500 Niles Road in St. Joseph, Michigan, presents a compelling investment opportunity. The property boasts 24,962 square feet situated on a 3.33-acre lot and features a desirable Net Net Net (NNN) lease structure. Built in 1987, the building is currently generating a strong Net Operating Income (NOI) of $156,689, translating to an attractive 8.47% capitalization rate. The asking price is $1,225,000, representing a price per square foot of $61.09. The property is professionally managed and offers ample on-site parking. Currently occupied by a mix of established medical tenants including Lakeland healthcare specialists, Quest Diagnostics, and Axon Psychology Group, the building offers suites ranging in size from 1,574 to 4,546 square feet. Its strategic location near Lakeland Medical Center Hospital and other medical office users ensures strong tenant demand and long-term stability. The property's strong financial performance, prime location, and established tenancy make it an ideal addition to any investment portfolio. The APN is 18-002-0044-08-5. This is a turnkey opportunity in a thriving medical market.

• CAP approach

  CAP return

  Valuation

  6%

  $3,585,352

  6.5%

  $3,309,556

  7%

  $3,073,159

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,638,534

  Geo Method

  $3,638,534

• Alternative Use

  Use

  Valuation

  Residential

  $4,103,849

  Hospitality

  $3,759,104

  Educational

  $3,127,530

  Medical

  $3,235,091

  Retail

  $4,865,047

Location Insight

City

Saint Joseph

County

Berrien

State

Michigan

Latitude

42.072

Longitude

-86.4775

CBSA code

35660

CBSA name

NILES-BENTON HARBOR, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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