Industrial Cannabis Cultivation
For Sale
$4,300,000
3245 Card Drive, Burton, MI 48529
Purpose-built cultivation and processing facility with dedicated rooms and industrial zoning M-2.
Property Size30,380 SF
Days on Market48
Property Features for 3245 Card Drive
General Information
Standard status
Active
Size
30,380 SF
Property subtype
Commercial
Zoning
Light Industry
Additional Details
Business Included
Yes
Dock-High Doors
1
Service Bays
1
Taxes and HOA fees
Annual Taxes
$92,358
Building Details
Building Size
30,380 SF
Year Built
2019
Listing Agency:
C3 CRE, LLC
(248) 752-1276
Listed By:
Corbin Yaldoo · License #6502431997
(248) 752-1276
Source:
Phgrealty
Added: Jun 26
Changed: Aug 8
Last Checked: Aug 11 at 2:50PM
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 C3 CRE, LLC
Investment Insights
Based on property information with market context.
Operating cultivation and processing facility available for sale with licenses and real estate included. Completed in December 2019, the property is purpose-built for cannabis use and is zoned M-2 General Industrial, supporting a variety of industrial and cannabis operations. The cultivation portion includes six flower rooms, two veg rooms, two mother rooms, a propagation room, two drying rooms, a trim room, and dedicated areas including a vault, kief room, fertigation room, fire suppression room, janitor/storage room, electrical room, security room, and bathroom. It also includes two offices, a loading dock, and a maintenance bay.
The processing facility includes a chocolate kitchen, edibles kitchen, extraction lab, a vault, a bathroom, and two offices. Processing capabilities listed include BHO, distillate, pre-rolls, and multiple infused product formats including gummies, candy bars, cotton candy, cheese balls, drink mix, chocolate coins, and syrup.
The facility is positioned within an established commercial corridor with numerous national and local tenants operating throughout the immediate trade area.
The processing facility includes a chocolate kitchen, edibles kitchen, extraction lab, a vault, a bathroom, and two offices. Processing capabilities listed include BHO, distillate, pre-rolls, and multiple infused product formats including gummies, candy bars, cotton candy, cheese balls, drink mix, chocolate coins, and syrup.
The facility is positioned within an established commercial corridor with numerous national and local tenants operating throughout the immediate trade area.
Key Highlights
- Operating cultivation/processing facility for sale with licenses and real estate included.
- Zoned M‑2 General Industrial for a variety of industrial and cannabis operations.
- New construction completed December 2019.
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
$172,063
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
4.00%
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%
$3,441,260
$3.4M
Cap Rate 7%
$2,458,043
$2.5M
Cap Rate 9%
$1,911,811
$1.9M
Market Conditions
NOI Build-Up for 30,380 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
$273.4K $9.00/SF
− Vacancy
−$27.6K −$0.91/SF
EGI
$245.8K $8.09/SF
− OpEx
−$73.7K −$2.43/SF
NOI
$172.1K $5.66/SF
Area
Genesee County, MI
Vacancy
10.10%
Lease Rate
$9.00 /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%
$3,441,260
Cap Rate 7%
$2,458,043
Cap Rate 9%
$1,911,811
Alternative Uses
Best Use
Industrial
$2.46M
$2.15M – $2.87M
NOI $172,063 @ 7.0% cap · market cap 4.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.39M
$5.59M – $7.46M
NOI $447,493 @ 7.0% cap · market cap 10.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
1
Service bays
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
182
Businesses Nearby
Explore this area
Business Placement
Demographics for 48529, MI
9,560
Population
4,430
Households
2.2
Avg Household Size
37
Median Age
8%
College-Educated
86%
High-School Grad
4.8 sq mi
ZIP Area
1,992
Density / Sq Mi
$38,021
Median Household Income
$24,189
Median Earnings
$1,003
Median Rent
$74,000
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Cannabis property - Purpose-built cultivation and processing facility with dedicated rooms and industrial zoning M-2.
Where is this cannabis property located?
The property is located at 3245 Card Drive Burton, MI.
What is the asking price?
The asking price for this property is $4,300,000.
What are key features of this property?
This property features: Operating cultivation/processing facility for sale with licenses and real estate included.; Zoned M‑2 General Industrial for a variety of industrial and cannabis operations.; New construction completed December 2019.
