ADULT USE & MEDICAL MARIJUANA GROW FACILITY AND BUSINESS

CannaMLS ID: 6290
Save Listing

Price: $4,950,000


Listing Details


Listing Category
Cultivation
Manufacturing
Distribution

License Status
Municipal / local license granted
State / annual license granted

Medical
YES

Adult Use
YES

Price: $4,950,000

Listing Status: Sold

Subject Offering

Mid-America Real Estate-Michigan, Inc., is pleased to present for sale a turn-key adult use and medical marijuana grow facility and business.

Price: $5,440,000 Building Size: 26,670 SF Total Lot Size: 8.47 Acres Lot 1: 2.82 Acres

Lot 2: 2.82 Acres (Vacant Land) Lot 3: 2.83 Acres (Vacant Land) Year Built: 2018
Parking Spaces: 23

Electrical Service; 2,400 amps
Zoning: I-2
Real Estate Taxes: $76,136,02 (2021 Summer & 2021 Winter) Insurance: $22,149.84

Suite 19 – A: 11,101 SF. Owner occupied and operated. Turn-key business for sale

Suite 19-B: 15,302 SF. Leased through November 1, 2024. $21 PSF/NNN. $26,250 Per Month plus Triple Net charges

Common Area: 267 SF

Steel frame building

Grow up to 10,000 plants. Six Class-C cultivation licenses (4

medical and 2 recreational)

Sale includes two additional vacant lots

Balance of property is site plan approved for a 26,670 SF Phase II Building


Listing Details

Listing Status
Sold

Location
N/A, Michigan 00000

Date Listed For Sale:
2/16/2022

Date Last Updated:
9/20/2022

Generating Revenue:
YES

Operational:
YES

Property Details

Buiding Size (sq ft)
26670 sq ft

Lot Size (acres)
0 acres

Built out / Turnkey
YES

Equipment Included
YES

Room for Expansion
YES

Green Zone Confirmed
YES

Pricing Details

Listing Price
$4,950,000

Property Purchase Price
$4,940,000

Lease Terms:

Tenant: Contact Broker
Address: Contact Broker
Lease Type: Triple Net
Size: 15,302 SF (Rent based on 15,000 SF) Rent Commencement Date: November 1, 2018 Lease Expiration Date: October 31, 2024 Options: None

Rental Rate: $21.00 PSF Plus Triple Net Charges Annual Base Rent: $315,000.00
Monthly Base Rent: $26,250.00

Rent Increase: None
Common Area Maintenance: By Lessee Insurance: Lessee pays proportionate share

Taxes: Lessee pays proportionate share

Utilities: By Tenant
Sales Reporting: N/A Termination Right: None

Lessee Maintenance: Exterior and interior of the Building in which the Premises are situated including: all walls, the roof, subsurface walls, flooring, windows and glass, exterior and interior painting, structural maintenance and repair, electrical wiring and electrical systems, lighting, fixtures and equipment, the HVAC System, plumbing and hot water heater, storefront areas, sidewalks and parking lots. Maintaining or procuring to maintain the removal of any trash or debris on the Premises, and during the winter months, keeping the sidewalk adjacent to the Premises and all parking lots clear of snow and ice.

Lessor Maintenance: N/A

ROFR: Lessor agrees that it shall provide Lessee with at least 120 days advance notice of its intent to sell and shall grant Lessee a right of first refusal for the purchase Premises at the then current fair market value.

Administrative Fee: None Management Fee: None

Guaranty: None. Lessee’s Personal Guaranty expired after 24 months of on time lease payments

Co-Tenancy Clause: N/A
Security Deposit: $52,500 (Equivalent to 2 months Base Rent

Assignment and Subletting: Landlord has total discretion regarding its approval


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