Freestanding Cannabis Provisioning
For Sale
$399,999
6015 ANN ARBOR Road Unit SourceFi, Jackson, MI 49201
Municipally approved provisioning center with an included license and a format adaptable to traditional retail use.
Property Size2,564 SF
Price / SF$156.01
Days on Market834
Property Features for 6015 ANN ARBOR Road Unit SourceFi
General Information
Standard status
Active
Size
2,564 SF
Property subtype
Industrial
Amenities
3
Building Details
Year Built
19
Listing Agency:
C3 CRE, LLC
(248) 752-1276
Listed By:
Corbin Yaldoo · License #6502431997
(248) 752-1276
Source:
Xome
Added: May 20, 2024
Changed: Aug 30
Last Checked: Aug 30 at 1:22PM
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 freestanding 2,564-square-foot property is approved for adult-use cannabis provisioning and is offered with the associated license and real estate. The building can also support traditional retail use, providing flexibility beyond a cannabis-specific operation.
The property includes a 13-car parking lot, two curb cuts, and direct access to I-94. It is positioned among national and local retailers and serves a dense residential population. Additional parking may be possible through coordination with adjacent neighbors.
The property includes a 13-car parking lot, two curb cuts, and direct access to I-94. It is positioned among national and local retailers and serves a dense residential population. Additional parking may be possible through coordination with adjacent neighbors.
Key Highlights
- Municipally approved adult‑use provisioning center
- License and real estate included in the sale
- 2,564‑square‑foot freestanding building
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
$17,682
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
4.42%
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%
$353,640
$353.6K
Cap Rate 7%
$252,600
$252.6K
Cap Rate 9%
$196,467
$196.5K
Market Conditions
NOI Build-Up for 2,564 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
$30.8K $12.00/SF
− Vacancy
−$5.5K −$2.15/SF
EGI
$25.3K $9.85/SF
− OpEx
−$7.6K −$2.96/SF
NOI
$17.7K $6.90/SF
Area
Jackson County, MI
Vacancy
17.90%
Lease Rate
$12.00 /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%
$353,640
Cap Rate 7%
$252,600
Cap Rate 9%
$196,467
Alternative Uses
Best Use
Retail
$252.6K
$221.0K – $294.7K
NOI $17,682 @ 7.0% cap · market cap 4.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$409.3K
$358.1K – $477.5K
NOI $28,651 @ 7.0% cap · market cap 7.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
83
Businesses Nearby
33k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 74%
Shops & Services 26%
McDonald's
Dining
13,548 visits/mo
0.0 miles
Wendy's
Dining
10,211 visits/mo
0.2 miles
Dollar General
Shops & Services
6,305 visits/mo
0.2 miles
BP
Shops & Services
2,223 visits/mo
0.1 miles
SUBWAY
Dining
551 visits/mo
0.1 miles
Demographics for 49201, MI
47,747
Population
18,102
Households
2.6
Avg Household Size
41
Median Age
23%
College-Educated
92%
High-School Grad
155.0 sq mi
ZIP Area
308
Density / Sq Mi
$71,714
Median Household Income
$36,390
Median Earnings
$945
Median Rent
$202,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Cannabis property - Municipally approved provisioning center with an included license and a format adaptable to traditional retail use.
Where is this cannabis property located?
The property is located at 6015 ANN ARBOR Road Unit SourceFi Jackson, MI.
What is the asking price?
The asking price for this property is $399,999.
What are key features of this property?
This property features: Municipally approved adult‑use provisioning center; License and real estate included in the sale; 2,564‑square‑foot freestanding building
