Turnkey Cannabis Cultivation
560 E Broadway Ave Muskegon, MI 49444
560 E Broadway Ave, Muskegon, MI, 49444
$2,950,000
For Sale
$2,950,000
Fully operational cultivation facility with adult-use and medical licenses plus major grow-room power, HVAC, and security systems.
Property Size17,981 SF
Lot Size1.55 Acres
Price / SF$164.06
Days on Market21
Property Features for 560 E Broadway Ave
General Information
- Standard status
- Active
- Size
- 17,981 SF
- Lot size
- 1.55 Acres
Listing agency
Berkshire Hathaway Home Svcs
(231) 675-4474
Listed by
Austen Lobenherz
(231) 675-4474
Source
Exprealty
Added: Jul 2 Updated: Jul 22 at 11:35AM Checked: Jul 22 at 11:35AM
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 Berkshire Hathaway Home Svcs
Investment Insights
Based on property information with market context.
A turnkey cannabis cultivation facility featuring one Class C Adult-Use Cultivation License with a 2,000-plant capacity and one Class C Medical Grower License with a 1,500-plant capacity for a combined licensed canopy of 3,500 plants. The purpose-built industrial building is approximately 17,981 square feet and is sited on 1.55 acres, built to support large-scale cultivation and Michigan Cannabis Regulatory Agency (CRA) compliance.
The facility is fully operational and equipped with 1,200-amp, 480-volt, 3-phase electrical service, ten electrical panels including two new 277V panels, and a TrolMaster automation system controlling lighting and CO2. Environmental systems include ten 10-ton MRV5 rooftop HVAC units and 18 commercial dehumidifiers. Security includes 52 cameras with 30-day video retention, PIN-code access to each grow room, and monitored alarms, with CRA compliance supported by METRC track-and-trace history, inspection records, and operational documentation available to qualified buyers upon execution of a mutually acceptable Letter of Intent.
The licenses are transferable through the sale of the operating entity, allowing a buyer to acquire an established cultivation platform without the delays of the licensing process.
The facility is fully operational and equipped with 1,200-amp, 480-volt, 3-phase electrical service, ten electrical panels including two new 277V panels, and a TrolMaster automation system controlling lighting and CO2. Environmental systems include ten 10-ton MRV5 rooftop HVAC units and 18 commercial dehumidifiers. Security includes 52 cameras with 30-day video retention, PIN-code access to each grow room, and monitored alarms, with CRA compliance supported by METRC track-and-trace history, inspection records, and operational documentation available to qualified buyers upon execution of a mutually acceptable Letter of Intent.
The licenses are transferable through the sale of the operating entity, allowing a buyer to acquire an established cultivation platform without the delays of the licensing process.
Key Highlights
- 17,981 SF purpose‑built cultivation facility on 1.55 acres in Muskegon Heights, MI
- Licensed canopy includes 1 Class C adult‑use cultivation license (2,000‑plant) and 1 Class C medical grower license (1,500‑plant) for 3,500 total plants
- Fully operational cultivation setup with 1,200‑amp, 480‑volt, 3‑phase electrical service and ten electrical panels (including two new 277V panels)
Local Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $252.5k | $14.04 |
| − Vacancy | −$6.1k | −$0.34 |
| EGI | $246.4k | $13.70 |
| − OpEx | −$73.9k | −$4.11 |
| NOI | $172.5k | $9.59 |
17,981 SF · lease $14.04/SF/yr · vacancy 2.40% · expense 30.00%
Alternative Uses
Best Use
Industrial
$2.46M
$2.16M – $2.87M
NOI $172,476 @ 7.0% cap · market cap 5.85%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$168.86M
$147.75M – $197.00M
NOI $11,820,212 @ 7.0% cap · market cap 400.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Cannabis Properties
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FAQs
What type of property is this?
Cannabis property - Fully operational cultivation facility with adult-use and medical licenses plus major grow-room power, HVAC, and security systems.
Where is this cannabis property located?
The property is located at 560 E Broadway Ave Muskegon, MI.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: 17,981 SF purpose‑built cultivation facility on 1.55 acres in Muskegon Heights, MI; Licensed canopy includes 1 Class C adult‑use cultivation license (2,000‑plant) and 1 Class C medical grower license (1,500‑plant) for 3,500 total plants; Fully operational cultivation setup with 1,200‑amp, 480‑volt, 3‑phase electrical service and ten electrical panels (including two new 277V panels)
