COOKIES - CANNABIS RETAIL & MANUFACTURING PRO | 330 Ann St NW
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COOKIES - CANNABIS RETAIL & MANUFACTURING PRO 330 Ann St NW
25,579 SF Retail Building Grand Rapids, MI 49504 £2,758,136 (£108/SF) 10.21% Net Initial Yield
Investment Highlights
- Long Term Absolute NNN Lease w/ No Landlord Obligations
- Exclusive Cookies License Serving the Grand Rapids MSA as Only Site to Sell Cookies Cannabis
- 22,509 SF Building on 2.18 Acres - Completely Renovated in 2023
- 10 Year Lease w/ 3% Annual Increases in Term & Option Periods
- The Location Serves as Walk Up and Delivery Retail Adult Use Recreational & Processing Facility; Manufacturing and Packaging Products Onsite
- Low Price Per SF of $199 SF - Below Replacement Value
Executive Summary
Long Term Absolute NNN Lease w/ No Landlord Obligations
10 Year Lease w/ 3% Annual Increases in Term & Option Periods
Exclusive Cookies License Serving the Grand Rapids MSA as Only Site to Sell Cookies Cannabis
The Location Serves as Walk Up and Delivery Retail Adult Use Recreational & Processing Facility; Manufacturing and Packaging Products Onsite
22,509 SF Building on 2.18 Acres - Completely Renovated in 2023
Low Price Per SF of $199 SF - Below Replacement Value
Low Rent of $16 SF - 2 to 3 Times Lower Than Cannabis Market Rental Rates
16,000+ VPD - High Traffic Counts and Entrance/ Exit to Highway
Experienced Cannabis Tenant/ Operator with 3 Total Sites in Grand Rapids
10 Year Lease w/ 3% Annual Increases in Term & Option Periods
Exclusive Cookies License Serving the Grand Rapids MSA as Only Site to Sell Cookies Cannabis
The Location Serves as Walk Up and Delivery Retail Adult Use Recreational & Processing Facility; Manufacturing and Packaging Products Onsite
22,509 SF Building on 2.18 Acres - Completely Renovated in 2023
Low Price Per SF of $199 SF - Below Replacement Value
Low Rent of $16 SF - 2 to 3 Times Lower Than Cannabis Market Rental Rates
16,000+ VPD - High Traffic Counts and Entrance/ Exit to Highway
Experienced Cannabis Tenant/ Operator with 3 Total Sites in Grand Rapids
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
25,579 SF
Building Class
B
Year Built/Renovated
1979/2023
Price
£2,758,136
Price Per SF
£108
Net Initial Yield
10.21%
NOI
£281,606
Tenancy
Single
Number of Floors
1
Loading Docks
1 Exterior
Building FAR
0.27
Lot Size
2.18 AC
Zoning
SD-IT - Special District - Industrial Transportation
Parking
23 Spaces (1.02 Spaces per 1,000 SF Leased)
Frontage
272 ft on Ann Street Northwest
Amenities
- Pylon Sign
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 41-13-13-251-002 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £722,984 |
PROPERTY TAXES
Parcel Number
41-13-13-251-002
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£722,984
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COOKIES - CANNABIS RETAIL & MANUFACTURING PRO | 330 Ann St NW
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