Log In/Sign Up
Your email has been sent.
1425 W Main St
Lowell, MI 49331
Lume Cannabis Co. · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Long-Term, Absolute NNN with Annual Increases
- High-Income Trade Area Supporting Premium Retail
- Prime Hard Corner Location with Dual Drive-Thru and Excellent Accessibility
- Best-in-Class Tenant with Corporate Guaranty
- One of the Top Cannabis Markets in the United States
- Proximity to Grand Rapids & Regional Connectivity
EXECUTIVE SUMMARY
Northmarq is pleased to offer for sale to qualified investors the opportunity to purchase a fee-simple interest in the Lume Cannabis Co. property located at 1425 West Main Street, Lowell, MI (“the Property”). The Property consists of a 2,302 SF freestanding retail building on a 1.39-acre parcel of land. Lume is operating under a long-term net lease with zero landlord responsibilities. The lease features 3.00% annual rent increases, offering investors a hedge against inflation and a boost to the overall investment yield. The lease is corporately guaranteed and has 18+ years of base term remaining, along with options that permit Lume to occupy the premises until 2059. See Lease Abstract for full details.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
2,302 SF
Building Class
C
Year Built
1969
Price
$2,154,776
Price Per SF
$936.05
Cap Rate
9.25%
NOI
$199,317
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
1.39 AC
Zoning
C3
Parking
20 Spaces (8.69 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Signage
PROPERTY TAXES
| Parcel Number | 41-20-03-452-004 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $550,200 |
PROPERTY TAXES
Parcel Number
41-20-03-452-004
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$550,200
1 of 5
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
