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Noxx Cannabis 1234 Plainfield Ave 2,029 SF 100% Leased Retail Building Grand Rapids, MI 49505 $1,495,000 ($736.82/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
$1,495,000
Price Per SF
$736.82
Cap Rate
10%
NOI
$149,500
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 |
| Land Assessment | $0 | Total Assessment | $151,300 |
PROPERTY TAXES
Parcel Number
41-14-18-380-060
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$151,300
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Noxx Cannabis | 1234 Plainfield Ave
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