The cannabis industry in Michigan is picking up speed with a wave of adult-use and medical businesses expected to enter the market in the years to come. All legal businesses will require real estate that’s primed and zoned for cannabis cultivation, sale, and processing.
Commercial cannabis real estate agents will constantly need to be at the top of their game. They can compete for the limited number of listings or proactively go beyond what’s available in the market and identify potential real estate in municipalities that have opted in to allow the establishment of adult-use and medical marihuana facilities.
So, when it comes to finding cannabis zoned properties in Michigan, getting leads about who’s selling what at the moment and what can qualify as a cannabis facility in the future are mighty important. Today’s list features websites that you can use to view available cannabis listings as well as resources that can be used to carry out in-depth zoning research:
6. Well-Rooted Real Estate
Well-Rooted Real Estate is a female-operated brokerage that provides concierge-level services to cannabis entrepreneurs. They are engaged in the leasing, purchasing, and sale of marijuana-approved facilities. Their tailored valuation services are designed to help marijuana businesses determine the value of their properties. They also offer consultancy services for guidance at all stages of the cannabis supply chain.
Pros of Well-Rooted Real Estate
Decades of experience in commercial real estate
Source of exclusive cannabis property listings in Michigan
Cons of Well-Rooted Real Estate
Listings on their website are exclusively made by the broker’s agents, which means that other listing brokers will not find the website well suited for their needs.
Fewer listings than other listing websites.
Well-Rooted Real Estate is not suited for individual zoning research as it lacks the required tools.
Founded in 2015, Bricks + Mortar was the first cannabis-related brokerage in Michigan, and they underwent a rebranding in 2017 to better focus their objectives on serving the cannabis market. Their website features listings of properties, cultivation equipment, businesses for sale, and extraction machines. Bricks + Mortar also lends services in consulting, financing, and escrow management.
Pros of Bricks + Mortar
Segmented search with the ability to filter properties based on use
Full coverage of the Michigan cannabis real estate market
Bricks + Mortar seller packages include a flat-fee seller plan for a non-exclusive listing that requires sellers to pay $3000 upfront and 4% if the company finds a buyer. No commission is due if the agent brings their own buyer.
Their seller package with no upfront costs requires a commission of up to 8%, which may be higher than the traditional commission rate of 6%.
The CREC Network serves as a support network for professionals engaged in the cannabis real estate market. Affiliated brokers access all the resources needed to identify and close real estate deals.
They have three integrated divisions. The Brokerage Division provides traditional buy & sell services. CREC’s Technology Division develops solutions used by affiliated members to identify cannabis real estate opportunities using proprietary tools accessed through the CREC Portal, such as interactive nationwide zoning maps. The Compliance Division coordinates audits, license transfers, and applications.
Pros of the CREC Network
Listed properties are CREC Certified by the staff to ensure they are correctly zoned.
Members can access interactive research maps containing information about parcel locations, owner details, and zoning compliance.
Features listings from multiple states, including Alaska, Arizona, Illinois, Massachusetts, Michigan, Oregon, Vermont, and Washington
Cons of the CREC Network
Access to their interactive research tools requires a CREC membership that goes for $250 per month, with three months minimum subscription.
There were only 23 properties listed in Michigan at the time of writing, with most listings over 10 months old.
CBXRE is a cannabis real estate marketplace with plenty of listings for cannabis zoned industrial properties for sale nationwide. Users can also use the site to find cannabis financing, cannabis agencies, cannabis lawyers/attorneys, consultants, appraisers, and more.
Pros of CBXRE
A comprehensive directory of listings for cannabis properties, businesses, finance companies, and equipment
Several listings packages ranging from $20 to $125
Listings are approved quickly
Cons of CBXRE
CBXRE doesn’t offer certified listings where cannabis properties undergo a verification process to confirm their zoning compliance.
It’s not a suitable tool to research potential opportunities in green zones and they only have a dozen properties listed for Michigan.
420 Property also acts as a multiple listing service for cannabis properties similar to CBXRE. Their listings span several sectors, including finance, insurance, professional services, banking, and equipment.
Pros of 420 Property
It’s free for all users with no listing limit
420 Property doesn’t participate in any transactions
Paid advertising is optional for enhanced exposure
Cons of 420 Property
420 Property links agents with existing properties on the market and may not be suited for researching potential real estate opportunities in green zones.
It’s always teeming with new listings making it hard to stand out without paying for a featured listing.
Zonegoat offers listings for commercial cannabis real estate and provides agents with the tools to find potential cannabis properties in Michigan. It’s a cloud-based, AI-powered platform that automates the process of coming up with detailed zoning reports. For instance, users can run searches for listed medical marijuana dispensaries in Michigan as well as identify the best locations for adult-use businesses.
Pros of Zonegoat
It identifies potential boundaries around properties while taking into account nearby schools, hospitals, etc.
The company doesn’t participate in transactions, which eliminates competition
Features a Zoning Badge to certify the cannabis zoning status of a property
With a Brokerage account agents can generate reports of the same area any time there are new changes such as schools opening nearby
Buyers can search for zoned properties based on the business-type, for instance, grower, provisioning center, etc.
New users are offered a free trial
Cons of Zonegoat
Real Estate Professionals need to run a paid zoning report in order to have the Zonegoat Badge on their listings, which signifies that they have verified the zoning status or identified boundaries around the properties.
Users using free accounts get a limited number of searches for properties on Zonegoat’s Listing Page, but they can access the entire inventory of listings with a paid subscription.