8314 Portage RdPortage, MI 49002

Property Details for 8314 Portage Rd

Year built

1955

Lot size

0.35 AC

Property size (Sq ft)

3,912 SF

Zone code

B-3

Property type

Commercial real estate

APN

10-00340-135-O

APU

1000340135O

Description

Exceptional opportunity to acquire a profitable, established adult-use cannabis provisioning center in Portage, Michigan. This turnkey operation boasts 3,912 square feet of retail space in a freestanding building constructed in 1955, situated on a high-traffic section of Portage Road, experiencing over 50,000 vehicles daily. The property includes 21 parking spaces and prominent pylon signage ensuring maximum visibility. The business generated nearly $3.3 million in revenue during the past 12 months, demonstrating strong market performance. The building is zoned B-3 and features two stories. This is one of the first provisioning centers to open in the Portage/Kalamazoo market, benefiting from established brand recognition and customer loyalty. The sale includes the real estate. An adjacent 0.36-acre parcel at 8312 Portage Road, containing a 928 square foot building, is available for purchase at a separately negotiated price, offering potential for expansion of the parking lot, as indicated by the existing concept site plan. This presents a unique opportunity to acquire a successful, high-revenue-generating business with significant growth potential in a desirable location. The asking price for the main property is $999,888, representing a price per square foot of $255.60.

• CAP approach

  CAP return

  Valuation

  6%

  $833,876

  6.5%

  $769,732

  7%

  $714,751

• Comparable approach

  Method

  Valuation

  Relative Method

  $509,538

  Geo Method

  $509,538

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,410,140

  Retail / Commercial

  $743,723

  Mixed-Use / Specialty

  $757,314

  Hospitality / Lodging

  $576,763

  Office

  $769,732

  Institutional / Educational

  $793,106

  Residential Income

  $927,934

  Multifamily

  $1,022,870

  Automotive / Energy

  $679,805

  Parking / Income-Based Land

  $218,546

  Restaurant / Food Service

  $428,548

  Healthcare / Senior Housing

  $759,955

Location Insight

City

Portage

County

Kalamazoo

State

Michigan

Latitude

42.1963

Longitude

-85.5615

CBSA code

28020

CBSA name

KALAMAZOO-PORTAGE, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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