Green Zone Properties For Sale In Michigan is commercial real estate eligible for a growing, processing, testing, transportation, or provisioning permit from a local Michigan municipality. First, you must apply for all local zoning, municipal and county building permits, and state-level regulatory licensing. Then you can begin demolition and construction of the property with the proper permits and licenses. Construction may bring about changes to your land that improve its suitability for farming or growing cannabis. These improvements are included in your purchase price. Green zone properties are completely rezoned industrial use parcels ready for business! Once operational, many new companies will require additional capital or financing to expand or refinance their operations.
What are the benefits of this type of property?
Green zone properties for sale in Michigan are eligible for a growing, processing, testing, or transportation permit from your local city or county. According to the Michigan Medical Marijuana statute (MMMA), leaseholds or other business agreements may be arranged with your local municipality, like existing industrial marijuana use permits. There is no existing statutory requirement to enter into a lease agreement with your city if you want to cultivate cannabis on properties that are not within the boundaries of an incorporated municipality.
However, suppose you are not a member of an incorporated community. In that case, you may need to sign a formal contract with your city, which will assign your cannabis cultivation business to an existing township or the Township. Once you have signed a lease agreement with your property owner and a city. The legal transfer of ownership of your property from you and the previous owner(s) will occur. This usually happens within two weeks of the leasing agreement execution.
How much does it cost?
The cost for Green Zone Properties For Sale In Michigan will vary based on the amount and type of square footage necessary for Grow Operations and what other activities need to be completed to make it fit for purpose. Green zone properties for sale in Michigan are a great option because they represent an easily transferable real estate asset that your business can retain, build up, and sell down the road. Most of the time, tenants can purchase property through instalment payments. This is usually a convenient approach for real estate investors who cannot cover all the costs of a piece of property upfront. In any case, the tenant is provided with an opportunity to build equity in the property over time. Thus discouraging them from abandoning it before paying off their investment.
Here Are The Things You Need To Know About Green Zone Properties For Sale In Michigan.
1. You must have all local zoning, municipal and county building permits, and state-level regulatory licensing before beginning construction or other activity.
2. Renting your property is more viable when you have a long-term (12+ month) lease agreement. Most properties being leased to cannabis businesses require a 12-month minimum term.
3. Payment for Green Zone Properties For Sale In Michigan can often be made with cash, wire transfers and independent fund transfers from financial institutions, companies or individuals who help expedite the transaction.
4. Properties Being Leased To Cannabis Businesses Should Be At Least 10,000 Square Feet.
5. After the tenant has paid off the last of their lease payments. You can sell or refinance the property for a very high profit. This is an intelligent way to invest in real estate that will bring you gains when it comes time to sell. Often, these properties are purchased at lower prices than their worth and then sold for a higher value later.
Are there any restrictions?
Green zone properties for sale in Michigan are available to everyone. However, apply for a growing, processing, testing, or transportation permit and have not yet purchased the property with an option to buy. You may find that some landlords are reluctant to sign leases with tenants who are trying to obtain a marijuana business license. Remember that a lease is a legal contract binding on both parties. You will be responsible for paying the rent even if you cannot get your growing operation off the ground. Buyer beware! Take a very close look at the property in person. Hire an inspector or get a third-party opinion of its condition and marketability.
Why should I buy Green Zone Properties For Sale In Michigan?
Green zone properties in Michigan are in high demand, most of which are sold quickly. To the best of our knowledge, this is about the only way you can obtain a commercial cannabis business permit in Michigan without having an existing facility or business permit. If you can afford the required deposits and taxes. You can receive your desired application within 48 hours from our research. We do not recommend investing more than a few hundred dollars to secure yourself as one of the first 20 applicants to receive approval. Most of those who are approved will not earn back their initial deposit.
