Cannabis Cultivation
For Sale
Contact for pricing
1312 Lake Street, Niles, MI 49120
Existing improvements are configured as a cannabis cultivation facility.
Property Size16,800 SF
Price / SF$101.19
Days on Market170
Property Features for 1312 Lake Street
General Information
Standard status
Active
Size
16,800 SF
Property subtype
Industrial, Special Purpose
Listing Agency:
Relogic
Listed By:
Ken Odonnell · License #FA042911
Source:
Crexi
Added: May 6
Changed: Oct 4
Last Checked: Oct 20 at 9:30PM
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 Relogic
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located at 1312 Lake Street in Niles, Michigan, this commercial property is configured for cannabis cultivation. The facility encompasses 16,800 of property area and is offered for sale.
Key Highlights
- 16,800 grow facility
- Cannabis‑focused commercial property at 1312 Lake Street, Niles, MI 49120
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$75,056
Cap Rate
4.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,501,120
$1.5M
Cap Rate 7%
$1,072,229
$1.1M
Cap Rate 9%
$833,956
$834.0K
Market Conditions
NOI Build-Up for 16,800 SF
Gross rent
$116.9K $6.96/SF
− Vacancy
−$9.7K −$0.58/SF
EGI
$107.2K $6.38/SF
− OpEx
−$32.2K −$1.91/SF
NOI
$75.1K $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 Rate 5%
$1,501,120
Cap Rate 7%
$1,072,229
Cap Rate 9%
$833,956
Alternative Uses
Best Use
Industrial
$1.07M
$938.2K – $1.25M
NOI $75,056 @ 7.0% cap · market cap 4.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.54M
$3.09M – $4.12M
NOI $247,462 @ 7.0% cap · market cap 14.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
147
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
Frequently Asked Questions
What type of property is this?
Cannabis property - Existing improvements are configured as a cannabis cultivation facility.
Where is this cannabis property located?
The property is located at 1312 Lake Street Niles, MI.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 16,800 grow facility; Cannabis‑focused commercial property at 1312 Lake Street, Niles, MI 49120
