Turnkey Industrial Cannabis
For Sale
$2,495,000
9081 Skyline Dr, Morenci, MI 49256
Former cultivation facility on a 3.049-acre I-2 parcel with temperature-controlled rooms, water storage tank, and utility-ready buildout.
Property Size20,040 SF
Lot Size3.05 Acres
Days on Market101
Property Features for 9081 Skyline Dr
General Information
Standard status
Active
Size
20,040 SF
Lot size
3.05 Acres
Property subtype
Industrial
Zoning
I-2
Building Details
Building Size
20,040 SF
Year Built
2020
Listed By:
Doug Wright, CCIM · License #OH #BRKA.2001001738
(419) 276-1236
Source:
Svn
Added: Jul 13
Changed: Oct 14
Last Checked: Oct 20 at 6:04PM
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 Doug Wright, CCIM
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Investment Insights
Based on property information with market context.
Former cultivation facility situated on a 3.049-acre I-2 zoned parcel within Morenci’s Skyline Industrial District. The property is fully outfitted with specialized equipment and features a compartmentalized layout intended to support highly regulated, climate-controlled operations. Improvements include approximately ten temperature-controlled flowering rooms, a large barrel room, a ~5,000-gallon water storage tank, and multiple storage and mechanical rooms. For workforce use, the facility also includes two restrooms with showers and locker rooms.
The site is positioned near the Michigan–Ohio border, providing access to both markets. It is approximately 35 miles west of Toledo, Ohio, with roughly a 50–55 minute drive to the Toledo metro area, and about 25 minutes from Downtown Adrian.
With its dedicated temperature control infrastructure, water storage, and compartmentalized interior design, the property is engineered for specialized production workflows and related industrial use cases within the I-2 zoning framework.
The site is positioned near the Michigan–Ohio border, providing access to both markets. It is approximately 35 miles west of Toledo, Ohio, with roughly a 50–55 minute drive to the Toledo metro area, and about 25 minutes from Downtown Adrian.
With its dedicated temperature control infrastructure, water storage, and compartmentalized interior design, the property is engineered for specialized production workflows and related industrial use cases within the I-2 zoning framework.
Key Highlights
- Former cultivation facility on a 3.049‑acre I‑2 zoned parcel in Morenci, Michigan (Skyline Industrial District).
- Built in 2020 and fully outfitted with specialized equipment for regulated, climate‑controlled operations.
- Approximately ten temperature‑controlled flowering rooms plus a large barrel room for controlled‑environment workflows.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$184,628
Cap Rate
7.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,692,560
$3.7M
Cap Rate 7%
$2,637,543
$2.6M
Cap Rate 9%
$2,051,422
$2.1M
Market Conditions
NOI Build-Up for 20,040 SF
Gross rent
$293.4K $14.64/SF
− Vacancy
−$29.6K −$1.48/SF
EGI
$263.8K $13.16/SF
− OpEx
−$79.1K −$3.95/SF
NOI
$184.6K $9.21/SF
Area
Lenawee County, MI
Vacancy
10.10%
Lease Rate
$14.64 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,692,560
Cap Rate 7%
$2,637,543
Cap Rate 9%
$2,051,422
Alternative Uses
Best Use
Industrial
$2.64M
$2.31M – $3.08M
NOI $184,628 @ 7.0% cap · market cap 7.40%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$248.63M
$217.55M – $290.07M
NOI $17,404,353 @ 7.0% cap · market cap 697.57%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
44
Businesses Nearby
Explore this area
Business Placement
Demographics for 49256, MI
3,909
Population
1,608
Households
2.4
Avg Household Size
40
Median Age
12%
College-Educated
88%
High-School Grad
60.5 sq mi
ZIP Area
65
Density / Sq Mi
$60,982
Median Household Income
$32,056
Median Earnings
$778
Median Rent
$112,800
Median Home Value
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Cannabis property - Former cultivation facility on a 3.049-acre I-2 parcel with temperature-controlled rooms, water storage tank, and utility-ready buildout.
Where is this cannabis property located?
The property is located at 9081 Skyline Dr Morenci, MI.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: Former cultivation facility on a 3.049‑acre I‑2 zoned parcel in Morenci, Michigan (Skyline Industrial District).; Built in 2020 and fully outfitted with specialized equipment for regulated, climate‑controlled operations.; Approximately ten temperature‑controlled flowering rooms plus a large barrel room for controlled‑environment workflows.
