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    Corner Cannabis Retail with Loft Title is generated by Realmo AI

    7957 East State Street, Central Lake, MI 49622

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    Turnkey cannabis retail space with an integrated upper loft/office area for streamlined day-to-day operations.

    Type:Retail, Mixed Use, Business for Sale
    Property size:
    2,640 SF
    Price / SF:
    $359/SF
    Added:
    May 28, 2026
    Days on Market:
    10
    Last Refresh:
    Jun 6 at 2:50 am

    Property Features for 7957 East State Street

    General Information

    Standard status
    Active
    Size
    2,640 SF
    Property subtype
    Retail, Mixed Use, Business for Sale

    Building Details

    Year Built
    1900

    We can help!

    Listing Contact
    Anne Schultz
    Anne Schultz

    Listing agent Anne Schultz License #6501414395

    Listing office Hudson Real Estate

    Listing date May 28, 2026

    Source Crexi

    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 Hudson Real Estate

    HighLights

    • Turnkey cannabis retail opportunity totaling 2,640 SF
    • Corner location
    • Includes upper loft/office space for day‑to‑day operations
    • Building year built: 1900

    Overview

    This offering is a turnkey cannabis retail opportunity totaling 2,640 SF, configured as a storefront retail space with an upper loft/office component. The property is presented for immediate occupancy, combining the primary retail footprint with an additional interior office area above the sales floor.

    Located at 7957 East State Street in Central Lake, Michigan, the property’s corner position can support customer-facing visibility and straightforward public access for shoppers approaching from multiple directions.

    For a cannabis retailer or related operator, this layout supports separation of front-of-house activity and back-of-house work by incorporating an upper loft/office within the same building envelope. The turnkey presentation reduces the amount of upfront setup required compared with starting from raw space, while the mixed retail-and-office configuration can help streamline staff workflows for daily operations. The property is available for sale.
    Location Intelligence

    Current Use by Public Records

    My TCBD Wellness Program Torch Cannabis Co. (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy Big Box & Wholesale Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Central Lake
    County
    Antrim
    State
    Michigan
    Longitude
    -85.265144
    Latitude
    45.070096

    Nearby Similar for Sale

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      Main Street Commercial/Mixed-Use Opportunity

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      View Details
    • $1,850,000
      5,654 SF

      Torch Bay Inn Hospitality Property

      Updated motel with cottages near Torch Lake and Lake Michigan.
      4871 US Highway 31 N, Central Lake, MI 49622
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    • $235,000

      Corner Mixed-Use Retail/Office

      Turn-key downtown corner property with private parking, well suited for retail, office, studio, or mixed-use concepts.
      2134 S Main St, Central Lake, MI 49622
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    FAQs

    What type of property is this?
    Storefront property - Turnkey cannabis retail space with an integrated upper loft/office area for streamlined day-to-day operations.
    Where is this storefront property located?
    The property is located at 7957 East State Street Central Lake, MI.
    What is the asking price?
    The asking price for this property is $950,000.
    What are key features of this property?
    This property features: Turnkey cannabis retail opportunity totaling 2,640 SF; Corner location; Includes upper loft/office space for day‑to‑day operations
    (810) 632-5050 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Anne Schultz
    Anne Schultz
    Real Estate License ID: 6501414395
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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