2144 Oak StNiles, MI 49120

Property Details for 2144 Oak St

Year built

1936

Lot size

0.80 AC

Property size (Sq ft)

2,856 SF

Property type

Auto shops

APN

14-0036-0004-00-4

APU

1400360004004

Description

This exceptional business opportunity in Niles, MI, presents a fully equipped auto repair shop spanning 2,856 square feet. The property boasts a large three-car garage, ideal for servicing multiple vehicles simultaneously. The recently renovated office space offers a modern and efficient workspace, complete with two updated bathrooms, new lighting fixtures, and a brand-new roof. Ample storage is available within the office itself, ensuring a well-organized and productive environment. Further storage solutions are provided by a sizable back barn, adding significant flexibility for inventory, tools, or equipment. The nearly 0.8-acre lot provides ample space for operations and maneuvering. This prime location sits in a high-traffic area, ensuring excellent visibility and accessibility for customers. The property is offered at $179,500, and a lease option is available for those seeking additional flexibility in their acquisition strategy. This turnkey operation is perfect for an established business seeking expansion or a new venture looking for a ready-made space to thrive. The combination of a well-maintained building, ample storage, and a desirable location makes this an attractive investment opportunity. The updated facilities and the lease option provide a unique blend of immediate usability and long-term potential.

• CAP approach

  CAP return

  Valuation

  6%

  $738,241

  6.5%

  $681,453

  7%

  $632,778

• Comparable approach

  Method

  Valuation

  Relative Method

  $937,425

  Geo Method

  $937,425

• Alternative Use

  Use

  Valuation

  Residential

  $574,831

  Hospitality

  $526,542

  Educational

  $438,077

  Medical

  $453,143

  Retail

  $681,453

Location Insight

City

Niles

County

Berrien

State

Michigan

Latitude

41.8262

Longitude

-86.2255

CBSA code

35660

CBSA name

NILES-BENTON HARBOR, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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