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Views: 67 DOM: 84 Updated: 09.13.24 Posted: 06.24.24 Status: Active

Summary

Price $3,333,333
Built/Renov 2023
Tenant Lume Cannabis
Cap Rate 8.25%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 1,800
Lease Start 07-01-2023
#Units 37
Price/SF $1,851.85
Expiration 06-30-2038
Tenant Type General Retail
NOI $275,000
R. Term 13.9
Ownership Fee Simple
Rent/SF $152.78
Increases 2.0%/1/yrs
Pop 5Mi 31,562
Lot/AC 0.77
Options 3/5yrs/1.25%
AHHI 5Mi $104,354

Lease Highlights

  • New 2023 construction
  • Lume Cannabis has 13+ years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features 1.25% annual rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Lume Cannabis is strategically located on Grange Hall Road, a primary east-west thoroughfare, with access to 13,219 vehicles passing by daily. The property is positioned just down the road from the on/off ramps of U.S. Highway 75 (57,200 VPD), a major north-south thoroughfare. Additionally, it is situated within a strong retail corridor, surrounded by well-known national tenants, including...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Lume Cannabis
  • Guarantor:Corporate
  • Company:Lume Holding Company
  • # Units:37
  • Stock:Private

About Tenant

Lume Cannabis Co. is a Michigan-based company specializing in the cultivation, production, and retail of high-quality cannabis products. Known for its commitment to quality, innovation, and...


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Listing Broker

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