Green Zone Cannabis
For Sale
$349,000
24280 Mound Rd, Warren, MI 48091
M-2-zoned property with prior grow-facility use and three-phase power.
Property Size4,800 SF
Price / SF$72.71
Days on Market85
Property Features for 24280 Mound Rd
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Commercial
Building Details
Year Built
1949
Listing Agency:
Pilot Property Group - Residential LLC
Listed By:
Alexander Termini · License #6501392648
(586) 291-0499
Source:
Vmrealestatemichigan
Added: Aug 6
Changed: Oct 25
Last Checked: Oct 28 at 8:46AM
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 Pilot Property Group - Residential LLC
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Investment Insights
Based on property information with market context.
Located at 24280 Mound Rd in Warren, Michigan, this M-2-zoned property was built in 1949 and previously operated as a grow facility. The property is identified as Green Zone approved and is described as meeting City and State requirements for a grow facility. Three-phase power is in place. Walk Score is 34, while Bike Score is 43.
Key Highlights
- M‑2 zoning
- Previously operated as a grow facility
- Green Zone approved
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,659
Cap Rate
7.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$493,180
$493.2K
Cap Rate 7%
$352,271
$352.3K
Cap Rate 9%
$273,989
$274.0K
Market Conditions
NOI Build-Up for 4,800 SF
Gross rent
$36.9K $7.68/SF
− Vacancy
−$1.6K −$0.34/SF
EGI
$35.2K $7.34/SF
− OpEx
−$10.6K −$2.20/SF
NOI
$24.7K $5.14/SF
Area
Warren, MI
Vacancy
4.44%
Lease Rate
$7.68 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$493,180
Cap Rate 7%
$352,271
Cap Rate 9%
$273,989
Alternative Uses
Best Use
Industrial
$352.3K
$308.2K – $411.0K
NOI $24,659 @ 7.0% cap · market cap 7.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.06M
$926.5K – $1.24M
NOI $74,123 @ 7.0% cap · market cap 21.24%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
425
Businesses Nearby
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Business Placement
Demographics for 48091, MI
32,267
Population
12,919
Households
2.5
Avg Household Size
37
Median Age
17%
College-Educated
82%
High-School Grad
7.9 sq mi
ZIP Area
4,084
Density / Sq Mi
$53,400
Median Household Income
$31,877
Median Earnings
$1,231
Median Rent
$138,700
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 - M-2-zoned property with prior grow-facility use and three-phase power.
Where is this cannabis property located?
The property is located at 24280 Mound Rd Warren, MI.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: M‑2 zoning; Previously operated as a grow facility; Green Zone approved
