Listed by Mosar Commercial Properties
$360,000
1803 Lansing Ave NE
Details
APN 1-0468.1000
Property Type Retail
Sub Type Convenience Store, Storefront
Square Footage 1,307
Cap Rate 8.84%
Occupancy 100%
Tenancy Single
Lease Type NNN
Remaining Term 3
Rent Bumps Yes
Year Built 1910
Acreage 0.210
Zoning MU III
Parking Spaces 10 per 1,000 sq ft
Investment Type Net Lease
Ground Lease No
8.84% cap rate on well-established dispensary with two five-year renewal options.
Marketing description
This is a NNN investment opportunity featuring an 8.84% cap rate on a well-established HomeGrown marijuana dispensary. The property includes a 5-year lease with 3 years remaining on the initial term and two 5-year renewal options, providing long-term income potential. The lease features 3% annual rent escalations, offering built-in NOI growth. This is a recession-resilient cannabis retail asset with strong consumer demand and attractive yield with predictable cash flow and upside through renewals.
Investment highlights
- 8.84% Cap Rate on a well-established HomeGrown marijuana dispensary
- 5-Year Lease with 3 years remaining on the initial term
- Two (2) Five-Year Renewal Options, providing long-term income potential
- 3% Annual Rent Escalations, offering built-in NOI growth
- NNN Lease Structure, minimizing landlord responsibilities
• Established Operator with a proven presence in the market
• Recession-Resilient Cannabis Retail Asset with strong consumer demand
• Attractive Yield with predictable cash flow and upside through renewals
Listing Contacts
Listed by Mosar Commercial Properties
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