Garden Center with
For Sale
$500,000
645 S Meridian Road, Hudson, MI 49247
Commercial Sale, Hudson, MI
Property Size1,536 SF
Lot Size10.01 Acres
Price / SF$325.52
Days on Market301
Property Features for 645 S Meridian Road
General Information
Property type
Commercial Sale
Property subtype
Other
Elementary school district
Hudson
Middle school district
Hudson
High school district
Hudson
Directions
From 127 and 34 Head South. Bean Creek Garden Center is on East side of Highway
Subdivision
Lenawee County - Y
Standard status
Active
APN
HD0-130-1600-00
Size
1,536 SF
Lot size
10.01 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Per Deed
Tax Annual Amount
2400
Legal Description
Per Deed
Utilities
Utilities
Propane
Heating system
Forced Air
Water source
Well
Amenities
greenhouses
display areas
Building Details
Year built
2021
Floors in Building
1
Number of units
1
Building materials
Metal Siding
Roof type
Metal
Listing Agency:
CENTURY 21 Affiliated
(517) 439-1000
Listed By:
Matthew Yoder
(517) 320-2844
Added: Nov 13, 2025
Changed: Sep 7
Last Checked: Sep 10 at 4:06PM
MLS# 25058184
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.
This nursery and garden center property includes a 1,536-square-foot storefront completed in 2021, along with multiple greenhouses, outdoor display areas, and ample parking. The building has metal siding and a metal roof, with forced-air heating supported by propane service. Water is supplied by a well.
The 10.01-acre property fronts US-127 in Hudson, Michigan, providing direct access along a high-traffic commercial corridor. Its existing improvements support garden center operations, while the acreage also accommodates consideration of additional agricultural or agri-tourism uses identified for the property, including orchard or Christmas tree development.
The 10.01-acre property fronts US-127 in Hudson, Michigan, providing direct access along a high-traffic commercial corridor. Its existing improvements support garden center operations, while the acreage also accommodates consideration of additional agricultural or agri-tourism uses identified for the property, including orchard or Christmas tree development.
Key Highlights
- 10.01‑acre nursery and garden center property
- 1,536‑square‑foot storefront built in 2021
- Multiple greenhouses and outdoor display areas
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
$15,945
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
3.19%
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%
$318,900
$318.9K
Cap Rate 7%
$227,786
$227.8K
Cap Rate 9%
$177,167
$177.2K
Market Conditions
NOI Build-Up for 1,536 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
$23.8K $15.48/SF
− Vacancy
−$999 −$0.65/SF
EGI
$22.8K $14.83/SF
− OpEx
−$6.8K −$4.45/SF
NOI
$15.9K $10.38/SF
Area
Lenawee County, MI
Vacancy
4.20%
Lease Rate
$15.48 /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%
$318,900
Cap Rate 7%
$227,786
Cap Rate 9%
$177,167
Alternative Uses
Best Use
Retail
$227.8K
$199.3K – $265.8K
NOI $15,945 @ 7.0% cap · market cap 3.19%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$19.06M
$16.67M – $22.23M
NOI $1,333,986 @ 7.0% cap · market cap 266.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
6
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49247, MI
5,720
Population
2,457
Households
2.3
Avg Household Size
42
Median Age
17%
College-Educated
89%
High-School Grad
84.0 sq mi
ZIP Area
68
Density / Sq Mi
$60,404
Median Household Income
$41,373
Median Earnings
$906
Median Rent
$138,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Similar Off Market Nearby
- Bean Creek Garden Center — 645 S Meridian Rd, Hudson, MI 49247
Frequently Asked Questions
What type of property is this?
Nursery and garden center - Established retail property with display areas, customer parking, and a 2021-built storefront.
Where is this nursery and garden center located?
The property is located at 645 S Meridian Road Hudson, MI.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 10.01‑acre nursery and garden center property; 1,536‑square‑foot storefront built in 2021; Multiple greenhouses and outdoor display areas
