Garden Center with
For Sale
$500,000
645 S Meridian Road, Hudson, MI 49247
Established agribusiness with a modern storefront, display areas, and substantial land for continued garden center operations.
Property Size1,536 SF
Lot Size10.00 Acres
Days on Market37
Property Features for 645 S Meridian Road
General Information
Standard status
Active
Size
1,536 SF
Lot size
10.00 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$2,400
Amenities
greenhouses
display areas
Building Details
Building Size
1,536 SF
Year Built
2021
Buildings
12
Stories
1
Units
1
Listing Agency:
CENTURY 21 Affiliated
(517) 320-2844
Listed By:
Matthew Yoder
(517) 320-2844
Source:
Thebrokeragehouse
Added: Jul 25
Changed: Aug 29
Last Checked: Aug 22 at 4:02AM
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 CENTURY 21 Affiliated
Investment Insights
Based on property information with market context.
Bean Creek Garden Center is an established nursery and garden center operation serving Hudson Township, Michigan, with more than 27 years of continuous growth. The property includes a storefront built in 2021, multiple greenhouses, outdoor display areas, and ample parking. The site encompasses approximately 10 acres and is positioned directly on US-127.
In addition to the existing garden center operation, the acreage may support orchard development, Christmas tree cultivation, or other agritourism ventures identified for the property. The offering is located at 645 S Meridian Rd in Hudson Township, MI 49247.
In addition to the existing garden center operation, the acreage may support orchard development, Christmas tree cultivation, or other agritourism ventures identified for the property. The offering is located at 645 S Meridian Rd in Hudson Township, MI 49247.
Key Highlights
- Approximately 10 +/- acres supporting the established garden center operation
- Storefront built in 2021 with modern retail appeal
- Multiple greenhouses and outdoor display areas
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
$15,945
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
3.19%
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%
$318,900
$318.9K
Cap Rate 7%
$227,786
$227.8K
Cap Rate 9%
$177,167
$177.2K
Market Conditions
NOI Build-Up for 1,536 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
$23.8K $15.48/SF
− Vacancy
−$999 −$0.65/SF
EGI
$22.8K $14.83/SF
− OpEx
−$6.8K −$4.45/SF
NOI
$15.9K $10.38/SF
Area
Lenawee County, MI
Vacancy
4.20%
Lease Rate
$15.48 /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%
$318,900
Cap Rate 7%
$227,786
Cap Rate 9%
$177,167
Alternative Uses
Best Use
Retail
$227.8K
$199.3K – $265.8K
NOI $15,945 @ 7.0% cap · market cap 3.19%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$19.06M
$16.67M – $22.23M
NOI $1,333,986 @ 7.0% cap · market cap 266.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49247, MI
5,720
Population
2,457
Households
2.3
Avg Household Size
42
Median Age
17%
College-Educated
89%
High-School Grad
84.0 sq mi
ZIP Area
68
Density / Sq Mi
$60,404
Median Household Income
$41,373
Median Earnings
$906
Median Rent
$138,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Bean Creek Garden Center — 645 S Meridian Rd, Hudson, MI 49247
Frequently Asked Questions
What type of property is this?
Nursery and garden center - Established agribusiness with a modern storefront, display areas, and substantial land for continued garden center operations.
Where is this nursery and garden center located?
The property is located at 645 S Meridian Road Hudson, MI.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Approximately 10 +/- acres supporting the established garden center operation; Storefront built in 2021 with modern retail appeal; Multiple greenhouses and outdoor display areas
