404 E Main St

For Sale

404 E Main St, Niles, MI 49120

This Niles property for sale is located at 404 E Main St. The current listed sale price for 404 E Main St is $2,750,000. 404 E Main St is situated on a lot that is 0.51 acre in size.

Contacts

broker

Dan Skodras

Bradley Company

Property Details

  • Property Type Multi-Family
  • Property Size 31,047 SF
  • Units 47
  • Lot Size 0.51 Acre
  • Additional Rent Contact for pricing
  • Year Built 1926
  • Date Updated Jul 15, 2024
-404 E Main St is a repurposed, recently renovated multifamily property nestled in the heart of historic downtown Niles, Michigan. The historic former Four Flags Hotel features 47 residential units of varying sizes, many of which have undergone recent renovations to finishes, fixtures, and mechanicals. Offering affordable, convenient living within walking distance of food and leisure amenities, this property is an attractive living option for those with local roots looking to live, work, and play in the greater Michiana area. Each room features a private restroom, refrigerator, and heating unit. Current occupancy sits around 94% with only a few vacant units. With historically low turnover the property should maintain the trend towards full occupancy. In addition to the main parcel, two lots to the south and east are included in the sale, providing additional parking space for residents. Offering an affordable living situation for locals, whether it be families or individuals, 404 E Main St has demonstrated continued high levels of occupancy and good community, with local, onsite maintenance and management. The property is less than five miles from the Indiana state line, 2.2 miles from US 12, and 3.2 miles from US 31, making it a convenient location for workers across a large geographical area.

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Highlights

  • Desirable central location, situated in heart of downtown Niles in walking distance to various amenities including restaurants, coffee shops, banks, parks, bars, and businesses
  • Ongoing renovations and refurbishments began in 2022, featuring a new boiler and individual heating units in every unit, along with significant electrical upgrades
  • Proximity makes it home to employees working across the SW Michigan and St Joseph County market
  • Consistent high-occupancy levels with fair market rents
  • Value-add potential to increase rents through improved marketing and additional amenities

Getting around

  • 85/100

    Walk Score ®

  • 78/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Niles, MI
  • Neighborhood Niles
  • Zip Code 49120
  • Market South Bend

Points of Interest

  • Shell

    0.57 miles

  • Marathon

    0.70 miles

  • Admiral

    1.07 miles

  • Marathon

    1.22 miles

  • Marathon

    1.82 miles

  • Marathon

    1.98 miles

  • Murphy USA

    2.73 miles

  • Phillips 66

    3.18 miles

  • Phillips 66

    3.35 miles

  • Marathon

    5.04 miles

  • Hardings Friendly Market

    0.08 miles

  • Martin's Super Market

    0.69 miles

  • Big Lots

    2.28 miles

  • Walmart Supercenter

    2.81 miles

  • Harding's Friendly Market

    9.22 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Dan Skodras

Bradley Company