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Views: 119 DOM: 181 Updated: 10.25.24 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 13.6
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 increases 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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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 4,775 11,566 31,504
2024 Total Population : 4,849 11,647 31,813
2024 Employed Civilian Pop : 2,267 5,646 15,554
2024 Total Businesses : 203 359 1,178
2024 Average Household Income : $ 96,454 $ 102,433 $ 112,805
2024 Total Consumer Spending : $ 179 M $ 427 M $ 1292 M
2024 Median Age : 39 41 42
2024 Total Households : 2,091 4,738 13,101
2024 Pop Age 25+: Bachelor's Degree : 402 1,269 4,689
2024 Average Home Value : $ 245,152 $ 307,110 $ 316,736
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
N Saginaw St Hubble Dr 2010 11,520 0.05 mi
Grange Hall Rd Lambert Dr 2012 14,663 0.08 mi
N Holly Rd Grange Hall Rd 2011 11,191 0.10 mi
Grange Hall Rd N Holly Rd 2012 13,952 0.10 mi
Grange Hall Road Gemini 2022 13,185 0.28 mi
N Holly Rd Holly Hills Dr 2012 8,894 0.39 mi
North Saginaw Street Seminole 2022 13,686 0.43 mi
Grange Hall Rd Marion 2012 12,060 0.47 mi
Grange Hall Rd Old Leake 2012 11,293 0.50 mi
Quick Rd N Holly Rd 2012 304 0.55 mi

Listing Broker

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