Cannabis Cultivation and Processing
For Sale
$4,300,000
3245 Card Dr, Burton, MI 48529
Operating facility with included licenses, specialized production areas, and M-2 General Industrial zoning.
Property Size30,380 SF
Price / SF$141.54
Days on Market113
Property Features for 3245 Card Dr
General Information
Standard status
Active
Size
30,380 SF
Property subtype
Commercial
Listing Agency:
C3 CRE, LLC
(248) 220-1110
Listed By:
Corbin Yaldoo · License #6502431997
Source:
Vmrealestatemichigan
Added: May 9
Changed: Aug 28
Last Checked: Aug 28 at 12:22PM
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.
This operating cannabis property combines dedicated cultivation and processing improvements with the real estate and licenses included in the sale. Completed in December of 2019, the cultivation area contains six flower rooms, two veg rooms, two mother rooms, a propagation room, drying rooms, trim space, a vault, kief room, fertigation room, fire suppression room, janitor/storage room, electrical room, security room, bathroom, two offices, loading dock, and maintenance bay.
The processing component includes chocolate and edibles kitchens, an extraction lab, a vault, bathroom, and two offices. Reported production capabilities include BHO, distillate, pre-rolls, candy bars, gummies, cotton candy, cheese balls, drink mix, chocolate coins, and syrup. The property carries M-2 General Industrial zoning, which permits a variety of industrial and cannabis operations. It is situated in an established commercial corridor with national and local tenants throughout the immediate trade area.
The processing component includes chocolate and edibles kitchens, an extraction lab, a vault, bathroom, and two offices. Reported production capabilities include BHO, distillate, pre-rolls, candy bars, gummies, cotton candy, cheese balls, drink mix, chocolate coins, and syrup. The property carries M-2 General Industrial zoning, which permits a variety of industrial and cannabis operations. It is situated in an established commercial corridor with national and local tenants throughout the immediate trade area.
Key Highlights
- Six flower rooms, two veg rooms, two mother rooms, and one propagation room
- Processing area includes chocolate and edibles kitchens plus an extraction lab
- Completed in December of 2019 as a purpose‑built facility
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
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
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Frequently Asked Questions
What type of property is this?
Cannabis property - Operating facility with included licenses, specialized production areas, and M-2 General Industrial zoning.
Where is this cannabis property located?
The property is located at 3245 Card Dr 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: Six flower rooms, two veg rooms, two mother rooms, and one propagation room; Processing area includes chocolate and edibles kitchens plus an extraction lab; Completed in December of 2019 as a purpose‑built facility
