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Skymint 1050 E Main St 2,206 SF Retail Building Morenci, MI 49256 $1,971,765 ($893.82/SF) 13.50% Cap Rate
Investment Highlights
- Absolute NNN Lease with Annual Increases
- Large 1.00-Acre Lot with Multiple Points of Access
- Strategic Border Town Location Driving Regional Demand
- Located in a Proven Michigan Cannabis Market
Executive Summary
Northmarq is pleased to present the opportunity to acquire a fee simple interest in a single-tenant retail asset leased to Skymint, located at 1050 E Main St, in Morenci, Michigan. The offering features a ±2,206 square foot freestanding building situated on a ±1.00-acre parcel. The tenant, The District Park LLC (d/b/a Skymint), operates under an Absolute NNN lease with ±6 years of base term remaining and 3.00% annual rent escalations, creating a truly passive investment structure with built-in NOI growth.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
2,206 SF
Building Class
B
Year Built
1982
Price
$1,971,765
Price Per SF
$893.82
Cap Rate
13.50%
NOI
$266,188
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
1.00 AC
Zoning
B1 - Business
Parking
20 Spaces (9.07 Spaces per 1,000 SF Leased)
Frontage
137’ on Main St
Amenities
- Pylon Sign
- Signage
- Drive Thru
Somewhat walkable
20/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | XM0-300-8025-00 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $329,100 |
Property Taxes
Parcel Number
XM0-300-8025-00
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$329,100
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Skymint | 1050 E Main St
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