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Views: 14 Updated: 01.26.24 Posted: 05.03.23 Status: Inactive

Summary

Price $1,369,760
Built/Renov 2020
Tenant High Profile
Cap Rate 8.75%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 3,000
Lease Start 01-26-2021
#Units 20
Price/SF $456.59
Expiration 01-25-2028
Tenant Type Medical/Health
NOI $119,854
R. Term 3.1
Ownership Fee Simple
Rent/SF $39.95
Increases 2.0%/1/yrs
Pop 5Mi 28,583
Lot/AC 0.61
Options 2/5yrs/2%
AHHI 5Mi $64,773

Lease Highlights

  • Recent construction in 2020
  • High Profile has 4+ years remaining on the primary lease term with 2 (5-year) options to extend
  • The lease features 2% annual rental escalations
  • NNN lease presents zero landlord responsibilities
  • Corporate guarantee by C3 Industries (19+ units backed)

Location Description

The 3,000 square foot building is along Laketon Avenue which hosts 24,321 vehicles per day and is the northern border for Muskegon business and residential. This puts High Profile extremely close to their customer base and makes it convenient for store access. The property is also within proximity to US Highway 31 (48,211 VPD). The immediate area is made up of a mix of retail and industrial...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: High Profile
  • Guarantor:Corporate
  • Company:C3 Industries
  • # Units:20
  • Stock:Private

About Tenant

High Profile is a medical and recreational cannabis retail dispensary that curates and sells premium cannabis flower and products. They are a wholly owned subsidiary and retail branch of C3...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 7,789 58,186 105,156
2023 Total Population : 7,834 58,384 105,504
2023 Employed Civilian Pop : 2,824 21,863 44,301
2023 Total Businesses : 313 2,074 3,503
2023 Average Household Income : $ 50,737 $ 54,766 $ 67,989
2023 Total Consumer Spending : $ 134 M $ 1069 M $ 2489 M
2023 Median Age : 35 36 39
2023 Total Households : 2,983 22,084 41,671
2023 Pop Age 25+: Bachelor's Degree : 440 3,808 10,185
2023 Average Home Value : $ 102,398 $ 138,387 $ 171,832
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
300 FEET W OF CRESTON (IN MUSKEGON) Burton Rd 2021 17,289 0.10 mi
Just East of Madison Huizenga St 2021 16,192 0.30 mi
0.1 MILE S OF LAKETON (MUSKEGON TWP) Broadmoor St 2021 1,360 0.32 mi
TO LAKETON AVENUE Broadmoor St 2021 2,622 0.35 mi
FROM LAKETON AVENUE Broadmoor St 2021 6,060 0.36 mi
100 FEET W OF US-31 OVERPASS (MUSKEGON TWP) US Hwy 31 2021 31,183 0.36 mi
Between Madison and Huizenga Madison St 2021 1,645 0.41 mi
TO LAKETON AVENUE Harvey St 2021 6,287 0.44 mi
FROM LAKETON AVENUE Harvey St 2021 2,511 0.44 mi
0.1 Miles South of laketon Harvey St 2021 905 0.48 mi

Listing Broker

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