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    520 Hammontree Dr Morenci, MI 49256

    Sponsored
    For Sale
    $2,750,000

    High-Yield Cannabis Facility, 27,000 SF

    Property size:
    27,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional Class A industrial property in Morenci, Michigan, presents a compelling investment opportunity. The 27,000-square-foot facility, built in 2018, houses a multi-tenant cannabis cultivation, extraction, and processing operation. Two tenants occupy the space under absolute NNN leases with a remaining term of 10 years, ensuring a stable income stream. Each lease includes a 2% annual rent increase, providing built-in growth potential. The property boasts a 10% cap rate and a net operating income (NOI) of $275,000, with a price per square foot of $101.85. The 100% occupancy rate and long-term leases minimize risk and maximize return. Located at 520 Hammontree Dr, Morenci, MI 49256, this property offers a unique blend of strong cash flow and long-term stability in a growing industry. The sale-leaseback structure eliminates landlord responsibilities, making this an exceptionally low-maintenance investment. This is a rare opportunity to acquire a high-performing asset with significant upside potential. The property's strategic location in Lenawee County further enhances its appeal.

    Property Features for 520 Hammontree Dr

    General Information

    Property type
    Distribution properties
    Square Feet
    27,000 SF
    Class
    A

    HighLights

    • $2,750,000 asking price for this Class A industrial property.
    • 27,000 square foot building with a $101.85 price per square foot.
    • 10% cap rate with a $275,000 net operating income (NOI).
    • 10‑year, absolute NNN lease with 2% annual rent bumps.
    • 100% occupancy with two tenants in a multi‑tenant building.
    • Located at 520 Hammontree Dr, Morenci, MI 49256.
    Property Profile Location Intelligence

    Current Use by Public Records

    Manufacturing properties

    Map

    City
    Morenci
    County
    Lenawee
    State
    Michigan
    Longitude
    -84.205934
    Latitude
    41.714263

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    FAQs

    What type of property is this?
    Distribution property - High-Yield Cannabis Facility, 27,000 SF
    Where is this distribution property located?
    The property is located at 520 Hammontree Dr Morenci, MI.
    What is the asking price?
    The asking price for this property is $2,750,000.
    What are key features of this property?
    This property features: $2,750,000 asking price for this Class A industrial property.; 27,000 square foot building with a $101.85 price per square foot.; 10% cap rate with a $275,000 net operating income (NOI).
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    520 Hammontree Dr Morenci, MI 49256
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    Realmo Value Estimation

    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.

    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.

    Alternative use

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

    More about this property
    520 Hammontree Dr Morenci, MI 49256
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