Florist Retail Property with
For Sale
$277,500
1124 N 5th St, Niles, MI 49120
The offering pairs an operating florist business with its real estate, greenhouse, trade name, and vehicle.
Property Size1,652 SF
Price / SF$167.98
Days on Market188
Property Features for 1124 N 5th St
General Information
Standard status
Active
Size
1,652 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Building Details
Year Built
1950
Listing Agency:
Thrive Acquisition
Listed By:
Kathy L DeVries
Source:
Vmrealestatemichigan
Added: Apr 2
Changed: Oct 1
Last Checked: Oct 5 at 6:49PM
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 1,652-square-foot storefront in Niles includes an operating florist business and a greenhouse with a new roof and polycarbonate walls installed in 2024. The sale also includes the business’s trade name, customer goodwill, and vehicle. Improvements include a refurbished retail entrance and bathroom in 2021, a new awning and LED lighting in 2023, and a crushed asphalt driveway in 2025. A furnace, water lines, and sinks were added in 2026.
The property is located at 1124 N 5th St. Built in 1950, the building combines retail space with greenhouse facilities.
The property is located at 1124 N 5th St. Built in 1950, the building combines retail space with greenhouse facilities.
Key Highlights
- Sale includes the operating florist business, commercial property, customer goodwill, trade name, and vehicle
- 1,652‑square‑foot storefront with greenhouse
- Greenhouse has a new roof and polycarbonate walls from 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,149
Cap Rate
6.18%
Suggested Prices Based on Cap Rates
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
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 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
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
156
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Storefront property - The offering pairs an operating florist business with its real estate, greenhouse, trade name, and vehicle.
Where is this storefront property located?
The property is located at 1124 N 5th St 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: Sale includes the operating florist business, commercial property, customer goodwill, trade name, and vehicle; 1,652‑square‑foot storefront with greenhouse; Greenhouse has a new roof and polycarbonate walls from 2024
