Licensed Cannabis Cultivation
For Sale
$3,900,000
21736 Bedford Rd N, Battle Creek, MI 49017
Established outdoor cultivation property with irrigated fields, processing facilities, residences, and active Michigan CRA licensing.
Property Size15,585 SF
Price / SF$250.24
Days on Market131
Property Features for 21736 Bedford Rd N
General Information
Standard status
Active
Size
15,585 SF
Property subtype
Commercial
Building Details
Year Built
2021
Listing Agency:
Ellsbury Group
Listed By:
Lane Moser · License #RB19000138
(260) 615-9248
Source:
Metrodetroithomeguide
Added: Jun 22
Changed: Oct 25
Last Checked: Oct 30 at 2:57PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Ellsbury Group
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Investment Insights
Based on property information with market context.
This licensed adult-use cannabis cultivation property spans three parcels in Bedford Township, with the primary grow area extending approximately 101 acres. The fenced outdoor field includes irrigation and trellis structures, while two residences accompany the primary parcel. A separate 7-acre parcel includes a 5,000-square-foot warehouse, and the main parcel contains an 11,248-square-foot building constructed in 2021 for drying, processing, and secure storage. The two warehouses provide a combined 16,248 square feet of operational space and include dehumidification and ducted air-handling systems.
Access is provided by two entrances along N Bedford Rd (M-37) and another entrance from Wells St, separating cultivation and support-area circulation. The operation holds a Michigan CRA Class C Grower license, AU-G-C-000871, and an Establishment license, AU-ER-002775. The property is leased to an operating tenant on a triple-net basis through March 2027, with the residences and agricultural infrastructure included in the sale.
Access is provided by two entrances along N Bedford Rd (M-37) and another entrance from Wells St, separating cultivation and support-area circulation. The operation holds a Michigan CRA Class C Grower license, AU-G-C-000871, and an Establishment license, AU-ER-002775. The property is leased to an operating tenant on a triple-net basis through March 2027, with the residences and agricultural infrastructure included in the sale.
Key Highlights
- Approximately 101 acres on the primary cultivation parcel
- Michigan CRA Class C Grower license AU‑G‑C‑000871
- Two warehouses total 16,248 SF, including an 11,248 SF main building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$117,044
Cap Rate
3.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,340,880
$2.3M
Cap Rate 7%
$1,672,057
$1.7M
Cap Rate 9%
$1,300,489
$1.3M
Market Conditions
NOI Build-Up for 15,585 SF
Gross rent
$147.7K $9.48/SF
− Vacancy
−$10.0K −$0.64/SF
EGI
$137.7K $8.84/SF
− OpEx
−$20.7K −$1.33/SF
NOI
$117.0K $7.51/SF
Area
Calhoun County, MI
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,340,880
Cap Rate 7%
$1,672,057
Cap Rate 9%
$1,300,489
Alternative Uses
Best Use
Warehouse
$1.67M
$1.46M – $1.95M
NOI $117,044 @ 7.0% cap · market cap 3.00%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$184.87M
$161.77M – $215.69M
NOI $12,941,239 @ 7.0% cap · market cap 331.83%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
28
Businesses Nearby
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Business Placement
Demographics for 49017, MI
21,377
Population
9,701
Households
2.2
Avg Household Size
42
Median Age
20%
College-Educated
92%
High-School Grad
56.8 sq mi
ZIP Area
376
Density / Sq Mi
$58,500
Median Household Income
$40,386
Median Earnings
$946
Median Rent
$134,800
Median Home Value
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Cannabis property - Established outdoor cultivation property with irrigated fields, processing facilities, residences, and active Michigan CRA licensing.
Where is this cannabis property located?
The property is located at 21736 Bedford Rd N Battle Creek, MI.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: Approximately 101 acres on the primary cultivation parcel; Michigan CRA Class C Grower license AU‑G‑C‑000871; Two warehouses total 16,248 SF, including an 11,248 SF main building
