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Noxx Cannabis 1234 Plainfield Ave 2,029 SF 100% Leased Retail Building Grand Rapids, MI 49505 $2,044,009 CAD ($1,007.40 CAD/SF) 10% Cap Rate
Investment Highlights
- 15 Year Lease Term.
- Zero Landlord Responsibilities.
- Special Land Use.
Executive Summary
This is a rare investment opportunity to acquire a high-performing Noxx Cannabis retail location in Grand Rapids, Michigan, offered as a sale-leaseback with a 15-year absolute NNN lease in place. Positioned along a high-traffic corridor, this property benefits from exceptional road visibility, strong consumer demand, and special land use approval for cannabis retail, making it a highly sought-after asset in a competitive market.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
2,029 SF
Building Class
B
Year Built/Renovated
1953/2005
Price
$2,044,009 CAD
Price Per SF
$1,007.40 CAD
Cap Rate
10%
NOI
$204,401 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.22
Lot Size
0.21 AC
Zoning
COMMERCIAL - Special Commercial
Parking
7 Spaces (3.45 Spaces per 1,000 SF Leased)
Walk Score®
Very Walkable (89)
Bike Score®
Very Bikeable (76)
Property Taxes
| Parcel Number | 41-14-18-380-060 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $208,567 CAD |
Property Taxes
Parcel Number
41-14-18-380-060
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$208,567 CAD
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Noxx Cannabis | 1234 Plainfield Ave
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