Turnkey Florist Retail &
1124 N 5th Street Niles, MI 49120
1124 N 5th Street, Niles, MI, 49120
$277,500
For Sale
$277,500
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 Market23
Property Features for 1124 N 5th Street
General Information
- Standard status
- Active
- Size
- 1,652 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1950
Listing Agency
(616) 422-5874
Listed by
Thrive Acquisition
Source
Xome
Added: Jun 26 Checked: Jul 18 at 2:20 am
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).
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $25.6k | $15.48 |
| − Vacancy | −$1.1k | −$0.65 |
| EGI | $24.5k | $14.83 |
| − OpEx | −$7.3k | −$4.45 |
| NOI | $17.1k | $10.38 |
1,652 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
The Flower Cart
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
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 N 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).
