405 2Nd StNiles, MI 49120

Property Details for 405 2Nd St

Year built

1924

Lot size

0.25 AC

Property size (Sq ft)

5,456 SF

Zone code

CB

Property type

Bars

Property subtype

Pubs

APN

72-3110-0008-00-1

APU

7231100008001

Description

This 6,108 square foot industrial property, located at 405 N 2nd Street in Niles, Michigan, presents a unique investment opportunity. Previously operating as the Cowboy Saloon, this building includes all existing furnishings as part of the $249,000 purchase price. Note that a liquor license is not included in the sale. The property sits on a half-acre lot in a prime downtown location, directly adjacent to City Hall. This high-visibility location offers excellent potential for a variety of commercial uses, given its size and central position within the Niles business district. The building's existing interior layout, while configured for a bar and saloon, offers adaptable space that could be easily reconfigured to suit a range of different businesses. The substantial square footage provides ample room for operations, storage, or a combination of both. The inclusion of furnishings offers a significant cost savings for a prospective buyer, eliminating the need for initial outfitting expenses. Serious inquiries are encouraged to explore the possibilities this versatile property offers. The property's central location and existing infrastructure make it an attractive proposition for entrepreneurs and investors alike. This is a rare opportunity to acquire a substantial commercial property in a desirable downtown location at a competitive price.

• CAP approach

  CAP return

  Valuation

  6%

  $1,410,108

  6.5%

  $1,301,638

  7%

  $1,208,664

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,790,823

  Geo Method

  $1,790,823

• Alternative Use

  Use

  Valuation

  Residential

  $1,097,981

  Hospitality

  $1,005,744

  Educational

  $836,768

  Medical

  $865,545

  Retail

  $1,301,638

Location Insight

City

Niles

County

Berrien

State

Michigan

Latitude

41.832

Longitude

-86.257

CBSA code

35660

CBSA name

NILES-BENTON HARBOR, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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