Marijuana Cultivation Property for sale in Morenci, MI 49256

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