1551 Academy St - Manufacturing FOR SALE


Ferndale, MI 48220
$7,230,256 USD
201-919-6148
1551 Academy St, Ferndale, MI for Sale
$7,230,256 USD
Manufacturing - FOR SALE
1/1
null | 9% Cap Rate

1551 Academy St
Ferndale, MI 48220


HIGHLIGHTS

  • Absolute NNN Lease with Annual Increases
  • Best-in-Class Operator
  • Dominant Michigan Cannabis Operator
  • Growing Industry
  • Top U.S. Cannabis Market
  • Vacation Destination & Tourism

OVERVIEW

Northmarq is pleased to offer for sale to qualified investors the opportunity to purchase a fee simple interest in the Gage property located in Ferndale, Michigan (the “Property”). The Property consists of a 46,400-squarefoot freestanding retail building on a 1.52-acre parcel of land. Gage is operating under an absolute NNN lease with zero landlord responsibilities whatsoever, offering a truly passive investment asset. The lease also features 2.33% annual rent escalations throughout the base and option terms, providing investors with a boost to overall cash flows and a significant hedge against inflation.

FOR SALE DETAILS

PRICE

$7,230,256 USD

PRICE/SF

$146 USD /SF

CAP RATE

9%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Gage Dispensary

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Manufacturing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1970

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

2

PARKING SPACES

30

LAND DETAILS

LAND ACRES

1.52

LAND SF

66,211

ZONING

M-2, General Ind.

APN/PARCEL ID

25-35-126-021

ASK ABOUT THIS PROPERTY

Christian TremblayNorthmarqMore Info
201-919-6148

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Christian TremblayNorthmarqMore Info
201-919-6148

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.