Turnkey Industrial Agriculture
For Sale
$341,000
Pending
1760 Renaissance Drive, Niles, MI 49120
COMMERCIAL - Niles, MI
Property Size6,000 SF
Lot Size4.30 Acres
Days on Market197
Property Features for 1760 Renaissance Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Industrial
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Elementary school district
Niles
Middle school district
Niles
High school district
Niles
Directions
Lake St. turn North on Terminal turn West on Renaissance DR. property on Left at end of the road.
Subdivision
Southwestern Michigan - S
Standard status
Pending
APN
11-71-0024-0126-04-0
Size
6,000 SF
Lot size
4.30 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
FROM NE COR SEC 24 T7S R17W MEAS W 302.45' TH S36DEG10'20''W 1749.43' TH N53DEG49'40''W 390' TO TRUE POB TH S34DEG30'W
Tax Annual Amount
8509
Legal Description
FROM NE COR SEC 24 T7S R17W MEAS W 302.45' TH S36DEG10'20''W 1749.43' TH N53DEG49'40''W 390' TO TRUE POB TH S34DEG30'W
Utilities
Utilities
Natural Gas Available
Heating system
Ductless (Heating), Forced Air, Heat Pump (Heating)
Cooling system
Ductless, Other (Cooling), Central Air
Building Details
Year built
1995
Floors in Building
1
Number of units
1
Building materials
Aluminum Siding
Roof type
Metal
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(269) 469-3950
Listed By:
Donald W. Fulton
(269) 208-1976
Added: Jan 24
Changed: Aug 4
Last Checked: Aug 9 at 4:06PM
MLS# 26002895
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.
The property is a 6,000-square-foot industrial facility configured for advanced indoor agriculture, with a fully equipped setup intended to be conveyed with the sale. The existing interior includes humidity-controlled zones and secure vault areas, along with offices, storage, and restroom facilities. Included spaces comprise a V room (440 sq. ft.), a C room (200 sq. ft.), a main grow room (2,300 sq. ft.), and common storage (730 sq. ft.), plus a restroom with storage.
The facility also includes a 2023 new addition that is approximately 90% finished, adding a V room (730 sq. ft.), a soil/transfer room (427 sq. ft.), a break/restroom (213 sq. ft.), a vault room (210 sq. ft.), and a storage room (87 sq. ft.). The system infrastructure includes advanced water filtration and full-building climate control, and it is supported by heavy power service (208V 3-phase, 1,800 amps total with 4x 400-amp panels and 1x 200-amp panel).
The sale includes the fixtures and equipment used in the facility, including integrated grow lights, irrigation/fertigation systems, and clean room components, with a detailed equipment list available upon request. Buyer must verify zoning, licensing, and intended-use capabilities with the municipality, as no licenses are included or guaranteed.
The facility also includes a 2023 new addition that is approximately 90% finished, adding a V room (730 sq. ft.), a soil/transfer room (427 sq. ft.), a break/restroom (213 sq. ft.), a vault room (210 sq. ft.), and a storage room (87 sq. ft.). The system infrastructure includes advanced water filtration and full-building climate control, and it is supported by heavy power service (208V 3-phase, 1,800 amps total with 4x 400-amp panels and 1x 200-amp panel).
The sale includes the fixtures and equipment used in the facility, including integrated grow lights, irrigation/fertigation systems, and clean room components, with a detailed equipment list available upon request. Buyer must verify zoning, licensing, and intended-use capabilities with the municipality, as no licenses are included or guaranteed.
Key Highlights
- Turnkey 6,000 Sq Ft Industrial Facility: Fully equipped for high‑volume indoor agriculture, biotech, food production, or specialty manufacturing.
- Heavy Power Infrastructure: 208V 3‑phase, 1,800 amps supports intensive operations.
- Advanced Systems Included: Water filtration, full‑building climate control, integrated grow lights, and irrigation/fertigation systems.
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
Lease Details
Turnkey business
Opportunity
Yes
Heavy power
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Farm - Industrial facility on 4.3 acres with advanced indoor agriculture equipment, heavy power, climate control, and multiple finished rooms.
Where is this farm located?
The property is located at 1760 Renaissance Drive 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 agriculture, biotech, food production, or specialty manufacturing.; Heavy Power Infrastructure: 208V 3‑phase, 1,800 amps supports intensive operations.; Advanced Systems Included: Water filtration, full‑building climate control, integrated grow lights, and irrigation/fertigation systems.
