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Views: 46 DOM: 88 Updated: 07.26.24 Posted: 06.20.24 Status: Active

Summary

Price $1,222,512
Built/Renov 2020
Tenant High Profile
Cap Rate 10.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 3,000
Lease Start 01-26-2021
#Units 24
Price/SF $407.50
Expiration 01-25-2028
Tenant Type General Retail
NOI $122,251
R. Term 3.4
Ownership Fee Simple
Rent/SF $40.75
Increases 2.0%/1/yrs
Pop 5Mi 105,504
Lot/AC 0.92
Options 2/5yrs/2%
AHHI 5Mi $67,989

Lease Highlights

  • High Profile has 3+ years remaining on the current lease term with 2 (5-year) options to extend
  • The lease features 2% annual rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

High Profile is strategically located on East Laketon Avenue, with access to 27,368 vehicles passing by daily. The property is conveniently situated one block west from the on/off ramps of U.S. Highway 31 (48,200+ VPD), a major north-south highway that runs parallel to the eastern shore of Lake Michigan. The immediate area features well-known national tenants including Checkers, Walgreens,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: High Profile
  • Guarantor:Corporate
  • Company:C3 Industries
  • # Units:24
  • Stock:Private

About Tenant

High Profile is a medical and recreational cannabis retail dispensary that curates and sells premium cannabis flowers 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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