Garden Center with
For Sale
$277,500
1124 N 5th Street, Niles, MI 49120
Commercial Sale, Niles, MI
Property Size1,652 SF
Lot Size1.18 Acres
Price / SF$167.98
Days on Market98
Property Features for 1124 N 5th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Interior features
Broadband
Elementary school district
Niles
Middle school district
Niles
High school district
Niles
Directions
Located on Highway 51.
Standard status
Active
APN
11-71-0026-0065-01-2
Size
1,652 SF
Lot size
1.18 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
COM 293.5' N OF NE COR LOT 163 O P LACEY'S 2ND ADD CITY OF NILES PT OF SEC 26 T7S R17W TH N 85' N74DEG 50' W 187' N81DEG
Tax Annual Amount
4893
Legal Description
COM 293.5' N OF NE COR LOT 163 O P LACEY'S 2ND ADD CITY OF NILES PT OF SEC 26 T7S R17W TH N 85' N74DEG 50' W 187' N81DEG
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1950
Number of units
1
Building materials
Wood Siding
Roof type
Rubber
Listing Agency:
Thrive Acquisition
Listed By:
Kathy L DeVries
(616) 422-5874
Added: Jul 1
Changed: Sep 7
Last Checked: Oct 6 at 6:06AM
MLS# 26033263
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,652-square-foot garden center and retail property sits on 1.18 acres and includes a greenhouse, bathroom, broadband, forced-air heat, and central air conditioning. The wood-sided building was constructed in 1950 and has a rubber roof. The sale combines the commercial real estate with an operating florist business, its trade name, customer goodwill, vehicle, and business contents.
Property improvements include a refurbished retail entrance and bathroom completed in 2021, a new awning and LED lighting added in 2023, and a greenhouse roof with polycarbonate walls installed in 2024. The crushed asphalt driveway was completed in 2025, while a furnace and water lines with sinks are identified as 2026 improvements. The property is located in Niles, Michigan, and showings are by appointment.
Property improvements include a refurbished retail entrance and bathroom completed in 2021, a new awning and LED lighting added in 2023, and a greenhouse roof with polycarbonate walls installed in 2024. The crushed asphalt driveway was completed in 2025, while a furnace and water lines with sinks are identified as 2026 improvements. The property is located in Niles, Michigan, and showings are by appointment.
Key Highlights
- 1.18‑acre garden center property with 1,652 square feet of building area
- Operating florist business, trade name, customer goodwill, vehicle, and commercial real estate included
- Greenhouse has a new roof with polycarbonate walls installed in 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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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Nursery and garden center - Sale includes an operating florist business, commercial property, vehicle, and trade name.
Where is this nursery and garden center 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: 1.18‑acre garden center property with 1,652 square feet of building area; Operating florist business, trade name, customer goodwill, vehicle, and commercial real estate included; Greenhouse has a new roof with polycarbonate walls installed in 2024
