520 Hammontree Dr - Distribution FOR SALE


Morenci, MI 49256
$2,806,300 USD
248-419-3811
520 Hammontree Dr, Morenci, MI for Sale
$2,806,300 USD
Distribution - FOR SALE
1/5
null | 9.5% Cap Rate

520 Hammontree Dr
Morenci, MI 49256


HIGHLIGHTS

  • New 10-Year Leases Signed at COE
  • Newly Built Construction
  • Annual Rent Increases
  • NN Lease - Minimal Landlord Responsibility

OVERVIEW

Fortis Net Lease is pleased to present this two-tenant, free-standing Cannabis Cultivating large scale extraction and processing facility located at 520 Hammontree Dr, Morenci, MI. At the close of escrow, both tenants will sign brand new 10-year leases which will expire in 2034. The NN leases will require minimal landlord responsibilities and features annual CPI increases. This is an ideal opportunity for an investor to purchase a passive income real estate asset with minimal responsibilities. The Landlords only responsibilities are roof and structure while the tenants are responsible for all other expenses including parking lot, HVAC, property taxes and insurance.

FOR SALE DETAILS

PRICE

$2,806,300 USD

PRICE/SF

$104 USD /SF

CAP RATE

9.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Distribution

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2017

UTILITIES

-

CLEAR CEILING HT

24 Ft

DOCKS

-

DRIVE INS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

8.47

LAND SF

368,953

ZONING

I-2

APN/PARCEL ID

XM0-300-7070-00,XM0-300-7080-00

ASK ABOUT THIS PROPERTY

Marvin DeLauraFortis Net LeaseMore Info
248-419-3811

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

Marvin DeLauraFortis Net LeaseMore Info
248-419-3811

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