Listed by Northmarq - Chicago
$2,129,506
Skymint
Details
Property Type Retail
Sub Type Storefront
Square Footage 2,206
Cap Rate 12.5%
NOI $266,188
Tenancy Single
Lease Type Absolute NNN
Lease Term 10
Lease Expiration 09/30/2032
Remaining Term 6.3
Lease Options 2 x 5 years
Price per SqFt $965
Buildings 1
Stories 1
Acreage 10.000
Lease Commencement 10/01/2022
Retail | 12.50% CAP | 2,206 SqFt
Marketing description
Northmarq is pleased to present the opportunity to acquire a fee simple interest in a single-tenant retail asset leased to Skymint, located at 1050 E Main St, in Morenci, Michigan. The offering features a ±2,206 square foot freestanding building situated on a ±1.00-acre parcel. The tenant, The District Park LLC (d/b/a Skymint), operates under an Absolute NNN lease with ±6 years of base term remaining and 3.00% annual rent escalations, creating a truly passive investment structure with built-in NOI growth.
Investment highlights
Absolute NNN Lease with Annual Increases
Strategic Border Town Location Driving Regional Demand
Large 1.00-Acre Lot with Multiple Points of Access
Located in a Proven Michigan Cannabis Market
Listing Contacts
Listed by Northmarq - Chicago
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$266,188.00
$22,182.33/mo
Valuation Metrics
0
DSCR
12.5%
Cap Rate
12.5%
ROI
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Name
License
Title
Is there information that looks off?
