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High Profile Cannabis Dispensary 831 Highview Dr

3,192 SF Retail Building Webberville, MI 48892 £1,385,911 (£434/SF) 9.97% Net Initial Yield

Investment Highlights

  • Absolute NNN Lease with Annual Increases
  • Best-in-Class Tenant
  • Recently Constructed Buidling
  • Adjacent to ALDI's Only Distribution Facility in MI
  • Incredibly Health Rent to Sales

Executive Summary

Northmarq is pleased to offer for sale to qualified investors the opportunity to purchase a fee simple interest in the High Profile Cannabis Dispensary property located in Webberville, Michigan (the “Property”). The Property consists of a 3,192-square-foot freestanding retail building on a 1.01-acre parcel of land. High Profile Cannabis is operating under an absolute net lease with zero landlord responsibilities and approximately 7 years, 2 months of base lease term remaining. The lease features 2.25% annual rent escalations throughout the base and two (2) 5-year option terms, providing investors with a boost to overall cash flows and a significant hedge against inflation.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront
Building Size
3,192 SF
Year Built
2021
Price
£1,385,911
Price Per SF
£434
Net Initial Yield
9.97%
NOI
£138,166
Tenancy
Single
Number of Floors
1
Building FAR
0.07
Lot Size
1.01 AC

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
43-08-10-400-037
Land Assessment
£447,734
Improvements Assessment
£976,618
Total Assessment
£1,424,353
  • Listing ID: 31195870

  • Date on Market: 12/03/2024

  • Last Updated:

  • Address: 831 Highview Dr, Webberville, MI 48892

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