1050 E Main St - Freestanding FOR SALE


Morenci, MI 49256
$1,971,765 USD
201-919-6148
1050 E Main St, Morenci, MI for Sale
$1,971,765 USD
Freestanding - FOR SALE
1/3
null | 13.5% Cap Rate

1050 E Main St
Morenci, MI 49256


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

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$1,971,765 USD

PRICE/SF

$894 USD /SF

CAP RATE

13.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Skymint

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1982

SPRINKLERS

-

PARKING SPACES

20

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

B1

APN/PARCEL ID

XM0-300-8025-00

ASK ABOUT THIS PROPERTY

Christian TremblayNorthmarqMore Info
201-919-6148

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Christian TremblayNorthmarqMore Info
201-919-6148

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.