Turnkey Florist Retail &
For Sale
$277,500
1124 5th Street, Niles, MI 49120
For sale as a turnkey package with a full-service florist business and attached greenhouse, plus multiple recent building and site upgrades.
Property Size1,652 SF
Price / SF$167.98
Days on Market59
Property Features for 1124 5th Street
General Information
Standard status
Active
Size
1,652 SF
Property subtype
Retail
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$4,893
Amenities
3
Rubber
137 x 328
Paved Road.
Building Details
Year Built
1950
Listing Agency:
(616) 422-5874
Listed By:
Thrive Acquisition
Source:
Xome
Added: Jun 12
Changed: Aug 8
Last Checked: Aug 9 at 5:17AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Thrive Acquisition
Investment Insights
Based on property information with market context.
This turnkey offering includes The Flower Cart, LLC florist business along with the commercial real estate. The sale includes the operating business, customer goodwill, trade name, and a vehicle, providing an owner-operator path or continuity for an existing floral business.
Recent improvements include a refurbished front entrance in the retail area (2021), refurbished bathroom (2021), new awning (2023), LED lighting (2023), and a new greenhouse roof with polycarbonate walls (2024). Additional upgrades include a crushed asphalt driveway (2025), a furnace (2026), and water lines and sinks (2026).
The property is located at 1124 N 5th Street in Niles, MI. Showings are by appointment only, and buyers should not approach employees. Financial details are available with an NDA upon request; all information should be verified by the buyer.
Recent improvements include a refurbished front entrance in the retail area (2021), refurbished bathroom (2021), new awning (2023), LED lighting (2023), and a new greenhouse roof with polycarbonate walls (2024). Additional upgrades include a crushed asphalt driveway (2025), a furnace (2026), and water lines and sinks (2026).
The property is located at 1124 N 5th Street in Niles, MI. Showings are by appointment only, and buyers should not approach employees. Financial details are available with an NDA upon request; all information should be verified by the buyer.
Key Highlights
- Turnkey package includes The Flower Cart, LLC florist business plus attached greenhouse and the commercial property.
- Sale includes operating business, customer goodwill, trade name, vehicle, and commercial property.
- Recent upgrades: refurbished front entrance and bathroom (2021), new awning (2023), LED lighting (2023).
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,149
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.18%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$342,980
$343.0K
Cap Rate 7%
$244,986
$245.0K
Cap Rate 9%
$190,544
$190.5K
Market Conditions
NOI Build-Up for 1,652 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$25.6K $15.48/SF
− Vacancy
−$1.1K −$0.65/SF
EGI
$24.5K $14.83/SF
− OpEx
−$7.3K −$4.45/SF
NOI
$17.1K $10.38/SF
Area
Berrien County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$342,980
Cap Rate 7%
$244,986
Cap Rate 9%
$190,544
Alternative Uses
Best Use
Retail
$245.0K
$214.4K – $285.8K
NOI $17,149 @ 7.0% cap · market cap 6.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$347.6K
$304.2K – $405.6K
NOI $24,334 @ 7.0% cap · market cap 8.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
902
Businesses Nearby
35k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 77%
Dining 23%
Popeyes Louisiana Kitchen
Dining
7,999 visits/mo
0.4 miles
Dollar General
Shops & Services
6,710 visits/mo
0.3 miles
United Federal Credit Union
Shops & Services
5,550 visits/mo
0.3 miles
Fifth Third Bank & ATM
Shops & Services
4,777 visits/mo
0.0 miles
Huntington Bank
Shops & Services
4,543 visits/mo
0.2 miles
Demographics for 49120, MI
37,076
Population
15,581
Households
2.4
Avg Household Size
43
Median Age
21%
College-Educated
92%
High-School Grad
116.5 sq mi
ZIP Area
318
Density / Sq Mi
$61,940
Median Household Income
$38,779
Median Earnings
$911
Median Rent
$166,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - For sale as a turnkey package with a full-service florist business and attached greenhouse, plus multiple recent building and site upgrades.
Where is this storefront property located?
The property is located at 1124 5th Street Niles, MI.
What is the asking price?
The asking price for this property is $277,500.
What are key features of this property?
This property features: Turnkey package includes The Flower Cart, LLC florist business plus attached greenhouse and the commercial property.; Sale includes operating business, customer goodwill, trade name, vehicle, and commercial property.; Recent upgrades: refurbished front entrance and bathroom (2021), new awning (2023), LED lighting (2023).
