Property profile

1952 Houghton Lake Dr prudenville, MI 48651

OFF-MARKET
Industrial properties
8,000 SF 1 ac lot
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Property summary

AI-generated overview

This exceptional 8,000-square-foot industrial property in Prudenville, Michigan, presents a unique opportunity for cannabis cultivation. Located on a one-acre lot at 1952 W Houghton Lake Dr, 48651, this single-story building boasts a 16-foot ceiling height and features 14 dock-high doors and one loading dock. Renovated in 2021, the facility includes 4,880 square feet of turnkey cultivation space, currently configured with three 430-square-foot flowering rooms, one 430-square-foot drying room, and one 313-square-foot vegetative room. An additional 3,120 square feet of former retail space offers significant expansion potential, easily adaptable for additional drying or flowering rooms. High-end features include 5 tons of HVAC per grow room, automated watering systems, two Quest dehumidifiers, 15 Gavita 1500-watt LED lights per flowering room, and Troll Master Pro controls in all rooms. The property benefits from a recently replaced roof and repaved driveway, and boasts an 800-amp, 480-volt electrical output. The asking price is $895,000 for a fee simple absolute ownership, or a lease is available at $8,500 per month plus NNN. Seller financing options may be available for qualified buyers. The property is zoned commercial and is currently vacant.

Property profile

Verified
Property type Industrial properties
Total area 8,000 SF
Lot 1 ac (43,560 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

1952 Houghton Lake Dr prudenville, MI 48651
prudenville metro
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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