Turnkey Industrial Facility For
For Sale
$341,000
Pending
1760 Renaissance Dr, Niles, MI 49120
6,000 SF industrial facility with advanced indoor agriculture setup.
Property Size6,000 SF
Lot Size4.30 Acres
Days on Market105
Property Features for 1760 Renaissance Dr
General Information
Standard status
Pending
Size
6,000 SF
Lot size
4.30 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,508
Building Details
Year Built
1995
Units
1
Listing Agency:
Coldwell Banker Residential Brokerage
(269) 208-1976
Listed By:
Donald W. Fulton · License #6501294765
(269) 208-1976
Source:
Elliman
Added: Apr 27
Changed: Aug 8
Last Checked: Aug 9 at 6:55AM
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 Coldwell Banker Residential Brokerage
Investment Insights
Based on property information with market context.
This 6,000 square foot industrial facility is situated on 4.3 acres and features an advanced indoor agriculture setup. The property is equipped as a turnkey industrial space suitable for high-volume indoor farming. Recent upgrades include heavy power (208V 3-phase, 1,800 amps total: 4x 400-amp panels & 1x 200-amp panel), advanced water filtration, and full-building climate control. The sale includes all fixtures and equipment, such as integrated grow lights, irrigation/fertigation systems, and clean rooms. The layout incorporates humidity-controlled zones, secure vaults, and offices. Existing finished rooms include a 440 square foot V room, a 200 square foot C room, a 2,300 square foot main grow room, and 730 square feet of common storage, plus one restroom with storage. A new addition in 2023 (90% finished) includes a 730 square foot V room, a 427 square foot soil/transfer room, a 213 square foot break/restroom, a 210 square foot vault room, and an 87 square foot storage room. The property is ready for cultivation and is also suitable for biotech, food production, or specialty manufacturing. Equipment and infrastructure convey with the sale. The property has a bike score of 31, indicating it is somewhat bikeable, and a walk score of 15, indicating it is car-dependent.
Key Highlights
- Turnkey 6,000 Sq Ft Industrial Facility: Fully equipped for high‑volume indoor farming or adaptable to biotech, food production, or specialty manufacturing.
- Heavy Power Infrastructure: Features 208V 3‑phase power with 1,800 amps total.
- Advanced Systems Included: Equipped with advanced water filtration and full‑building climate control.
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
$26,806
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
7.86%
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%
$536,120
$536.1K
Cap Rate 7%
$382,943
$382.9K
Cap Rate 9%
$297,844
$297.8K
Market Conditions
NOI Build-Up for 6,000 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
$41.8K $6.96/SF
− Vacancy
−$3.5K −$0.58/SF
EGI
$38.3K $6.38/SF
− OpEx
−$11.5K −$1.91/SF
NOI
$26.8K $4.47/SF
Area
Berrien County, MI
Vacancy
8.30%
Lease Rate
$6.96 /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%
$536,120
Cap Rate 7%
$382,943
Cap Rate 9%
$297,844
Alternative Uses
Best Use
Industrial
$382.9K
$335.1K – $446.8K
NOI $26,806 @ 7.0% cap · market cap 7.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,379 @ 7.0% cap · market cap 25.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
67
Businesses Nearby
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Cannabis property - 6,000 SF industrial facility with advanced indoor agriculture setup.
Where is this cannabis property located?
The property is located at 1760 Renaissance Dr Niles, MI.
What is the asking price?
The asking price for this property is $341,000.
What are key features of this property?
This property features: Turnkey 6,000 Sq Ft Industrial Facility: Fully equipped for high‑volume indoor farming or adaptable to biotech, food production, or specialty manufacturing.; Heavy Power Infrastructure: Features 208V 3‑phase power with 1,800 amps total.; Advanced Systems Included: Equipped with advanced water filtration and full‑building climate control.
