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Views: 60 Updated: 01.26.24 Posted: 05.03.23 Status: Inactive

Summary

Price $1,971,351
Built/Renov 2021
Tenant High Profile
Cap Rate 8.75%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 3,192
Lease Start 10-01-2021
#Units 20
Price/SF $617.59
Expiration 09-30-2031
Tenant Type Medical/Health
NOI $172,509
R. Term 6.9
Ownership Fee Simple
Rent/SF $54.04
Increases 2.5%/1/yrs
Pop 5Mi 11,526
Lot/AC 1.01
Options 2/5yrs/2.25%
AHHI 5Mi $118,375

Lease Highlights

  • High Profile has over 8 years remaining on its current lease term with 2 (5-year) options to extend
  • Lease features 2.25% annual rental increases throughout the initial term and at the start of each option
  • Absolute NNN features zero landlord responsibilities
  • Corporate guarantee by C3 Industries (20 units)

Location Description

This newly constructed High Profile is strategically located along Highview Drive (M-52) with access to over 8,800 vehicles per day. The site is just off of Interstate 96, an east/west highway that runs throughout the lower peninsula of Michigan, which see’s over 56,000 vehicles per day. This 3,192 sure foot building is situated on a little over an acre with neighboring tenants including...

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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 : 421 3,580 11,482
2023 Total Population : 425 3,625 11,520
2023 Employed Civilian Pop : 223 1,916 6,094
2023 Total Businesses : 25 96 362
2023 Average Household Income : $ 101,119 $ 114,579 $ 123,005
2023 Total Consumer Spending : $ 17 M $ 138 M $ 468 M
2023 Median Age : 40 41 41
2023 Total Households : 203 1,394 4,423
2023 Pop Age 25+: Bachelor's Degree : 34 311 1,561
2023 Average Home Value : $ 232,203 $ 256,494 $ 279,607
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Stockbridge Rd N M 52 2021 1,311 0.03 mi
Highview Drive 2019 1,563 0.03 mi
N M 52 I- 96 2015 7,600 0.16 mi
FROM M-52 (STOCKBRIDGE RD) Highview Dr 2021 2,536 0.18 mi
2019 2,667 0.18 mi
M 43;M 52 Highview Dr 2021 7,373 0.21 mi
TO M-52 (STOCKBRIDGE RD) N M 52 2021 2,542 0.26 mi
2019 2,674 0.26 mi
TO M-52 (STOCKBRIDGE RD) Noble Rd 2021 1,964 0.35 mi
2019 2,066 0.35 mi

Listing Broker

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