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Gage (TerrAscend) Dispensary 1025 Hannah Ave

2,400 SF Retail Building Traverse City, MI 49686 £2,048,531 (£854/SF) 9% Net Initial Yield

Investment Highlights

  • Absolute NNN Lease with Annual Increases
  • Dominant Michigan Cannabis Operator
  • Top U.S. Cannabis Market
  • Best-in-Class Operator
  • Growing Industry
  • Vacation Destination & Tourism

Executive Summary

Northmarq is pleased to offer for sale to qualified investors the opportunity to purchase a fee simple interest in the Gage property located in Traverse City, Michigan (the “Property”). Gage is operating under an absolute NNN lease with zero landlord responsibilities whatsoever, offering a truly passive investment asset. The lease also features 2.33% annual rent escalations throughout the base and option terms, providing investors with a boost to overall cash flows and a significant hedge against inflation. See Lease Abstract for full details.

Attachments

View OM

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
2,400 SF
Building Class
B
Year Built
2021
Price
£2,048,531
Price Per SF
£854
Net Initial Yield
9%
NOI
£184,368
Tenancy
Single
Number of Floors
1
Building FAR
0.21
Land Acres
0.26 AC
Zoning
B-1
Parking
6 Spaces (2.5 Spaces per 1,000 SF Leased)
Frontage
111 ft on Hannah Avenue

Links

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Walk Score ®
Very Walkable (72)
Bike Score ®
Very Bikeable (85)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores

PROPERTY TAXES

Parcel Number 51-778-104-10 Improvements Assessment £0
Land Assessment £0 Total Assessment £267,484

PROPERTY TAXES

Parcel Number
51-778-104-10
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£267,484
(312) 858-6725

  • Listing ID: 30604633

  • Date on Market: 08/01/2024

  • Last Updated:

  • Address: 1025 Hannah Ave, Traverse City, MI 49686

The Retail Property at 1025 Hannah Ave, Traverse City, MI 49686 is currently available For Sale. Contact Northmarq for more information.

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© 2024 CoStar Group

Gage (TerrAscend) Dispensary | 1025 Hannah Ave
(312) 858-6725 x

Gage (TerrAscend) Dispensary | 1025 Hannah Ave

Christian Tremblay

(312) 858-6725

(312) 858-6725

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