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69411 M-62
Edwardsburg, MI 49112
Nobo · Retail Property For Sale
Investment Highlights
- Absolute NNN Lease Structure: Zero landlord responsibilities
- Long-Term Lease Commitment: The tenant operates under a 15-year lease with over ±10 years of term remaining
- Limited Market Competition: Strategically located in Edwardsburg, MI, the subject property is one of only two dispensaries in the immediate trade area
- Built-In Annual Rent Escalations: The lease features fixed 2.5% annual rent increases, providing a consistent hedge against inflation
- Strong In-Store Sales Performance: The tenant’s sales performance is extremely strong, resulting in a very low rent-to-sales ratio
- Proximity to National Retailers: The asset benefits from its close proximity to several national credit tenants, including McDonald’s and Taco Bell.
Executive Summary
Matt Fitzgerald
License # 6505432273 (MI)
Matthews Real Estate Investment Services, Inc
1600 West End, Ste. 1500 Nashville, TN 37203
(866) 889-0550
License # 6505432273 (MI)
Matthews Real Estate Investment Services, Inc
1600 West End, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
2,875 SF
Building Class
C
Year Built
2000
Price
$2,110,067 CAD
Price Per SF
$733.94 CAD
Cap Rate
10.75%
NOI
$226,832 CAD
Tenancy
Single
Building Height
2 Stories
Building FAR
0.10
Lot Size
0.65 AC
Zoning
C - Commercial Business
Parking
19 Spaces (6.61 Spaces per 1,000 SF Leased)
Frontage
169’ on M-62
Property Taxes
| Parcel Number | 14-091-108-051-20 | Improvements Assessment | $108,778 CAD |
| Land Assessment | $27,674 CAD | Total Assessment | $136,452 CAD |
Property Taxes
Parcel Number
14-091-108-051-20
Land Assessment
$27,674 CAD
Improvements Assessment
$108,778 CAD
Total Assessment
$136,452 CAD
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