CannaMLS ID: 1153
Created | Updated
Price
$ 4,940,000
Centrally located in Morenci, Michigan, this turn-key cannabis cultivation facility offers 2 suites, allowing to grow up to 10,000 plants. Property Highlight
Stock image generated by CannaMLS. Request listing photos from seller.
Address: 520 Hammontree Dr
Property is: For sale
The property may be available both for purchase or for lease. Contact listing author for details.
Property type: Agriculture, Industrial
Building size (sq ft): 26,670
Centrally located in Morenci, Michigan, this turn-key cannabis cultivation facility offers 2 suites, allowing to grow up to 10,000 plants.
Property Highlights
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
Key Features
BUSINESS INCLUDED IN SALE
Suite 19-A is 11,101 SF and is owner-occupied and operated. The Seller’s grow business is included in the sale. Premises includes eight flower/veg rooms, a vault, dry, trim, and prep rooms, a mother room, and a small office. One of the flower rooms is a double rack system and all other rooms have single-level racking. Each of the growing rooms has its own HVAC system and climate monitoring system (Smart Bee), and the building contains both dehumidification and humidification and has a CO2 storage tank on the south side of the building.
TENANT IN PLACE
Suite 19-B is 15,302 SF and is leased (Option Period) for a 3-year term that began November 1, 2021, and expires October 31, 2024. Rent is currently at $21 per square foot per year, or $26,250 per month, on a triple-net basis. The premises is built out with a pod-style growing system which contains all the necessary climate controls and irrigation within a modular, movable unit. The building has basic HVAC and two dehumidifiers.
LARGE SCALE PRODUCTION
The Seller has obtained three Class-C Grow Licenses, one Adult-Use and two Medical, per suite, for a total of six Class C licenses, allowing up to 10,000 plants (1,500 for each medical and 2,000 for each recreational).
CENTRAL LOCATION
Close proximity to Ohio and Indiana border.
OPPORTUNITY FOR EXPANSION
In addition to the subject property, the offering includes two additional vacant lots for development. Lot 1 is 2.82 acres and Lot 2 is 2.83 acres. The subject property is site plan approved for a 26,670 SF Phase II building. Processing licenses are available through the municipality.
POWER
2400A existing amps. 800A to Suite A, 800A to Suite B and 800A available in the transformer.
Terms of Purchase
For Sale: $4,940,000
Corbin Yaldoo – Mid-America Real Estate-Michigan, Inc. – DRE# 6501364626
Stock image generated by CannaMLS. Request listing photos from seller.
Address: 520 Hammontree Dr
Property is: For sale
The property may be available both for purchase or for lease. Contact listing author for details.
Property type: Agriculture, Industrial
Building size (sq ft): 26,670