1310 Maumee St, Adrian, MI 49221-3444
This 5,752 square foot industrial building presents a unique investment opportunity in Adrian, Michigan's Eastside Marihuana Overlay District. Located at 1310 E Maumee, this property sits on a 0.27-acre lot and is offered at $199,000. The building is currently undergoing some updates to its HVAC and electrical systems, although these are incomplete. A prospective buyer should independently verify the extent of these improvements. It's crucial for any interested party to confirm the availability of necessary licenses and permits for their intended use with both the City of Adrian and the State of Michigan. This is a significant consideration given the property's location within the Marihuana Overlay District. The building's size and location offer considerable potential for a variety of industrial uses, subject to obtaining the appropriate approvals. The 0.27-acre lot provides ample space for potential expansion or outdoor storage, depending on zoning regulations and permitted uses. This property is being sold as-is, and a thorough inspection is strongly recommended before purchase. The sale price reflects the current state of the building and the need for potential further investment to complete the ongoing updates and secure necessary licenses.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
I-2 · Adrian, MIAdrian. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.