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COOKIES - CANNABIS RETAIL & MANUFACTURING PRO 330 Ann St NW 25,579 SF Retail Building Grand Rapids, MI 49504 $3,525,000 ($137.81/SF) 10.21% Cap Rate
Investment Highlights
- Long Term Absolute NNN Lease w/ No Landlord Obligations
- Exclusive Cookies License Serving the Grand Rapids MSA as Only Site to Sell Cookies Cannabis
- 22,509 SF Building on 2.18 Acres - Completely Renovated in 2023
- 10 Year Lease w/ 3% Annual Increases in Term & Option Periods
- The Location Serves as Walk Up and Delivery Retail Adult Use Recreational & Processing Facility; Manufacturing and Packaging Products Onsite
- Low Price Per SF of $199 SF - Below Replacement Value
Executive Summary
Long Term Absolute NNN Lease w/ No Landlord Obligations
10 Year Lease w/ 3% Annual Increases in Term & Option Periods
Exclusive Cookies License Serving the Grand Rapids MSA as Only Site to Sell Cookies Cannabis
The Location Serves as Walk Up and Delivery Retail Adult Use Recreational & Processing Facility; Manufacturing and Packaging Products Onsite
22,509 SF Building on 2.18 Acres - Completely Renovated in 2023
Low Price Per SF of $199 SF - Below Replacement Value
Low Rent of $16 SF - 2 to 3 Times Lower Than Cannabis Market Rental Rates
16,000+ VPD - High Traffic Counts and Entrance/ Exit to Highway
Experienced Cannabis Tenant/ Operator with 3 Total Sites in Grand Rapids
10 Year Lease w/ 3% Annual Increases in Term & Option Periods
Exclusive Cookies License Serving the Grand Rapids MSA as Only Site to Sell Cookies Cannabis
The Location Serves as Walk Up and Delivery Retail Adult Use Recreational & Processing Facility; Manufacturing and Packaging Products Onsite
22,509 SF Building on 2.18 Acres - Completely Renovated in 2023
Low Price Per SF of $199 SF - Below Replacement Value
Low Rent of $16 SF - 2 to 3 Times Lower Than Cannabis Market Rental Rates
16,000+ VPD - High Traffic Counts and Entrance/ Exit to Highway
Experienced Cannabis Tenant/ Operator with 3 Total Sites in Grand Rapids
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
25,579 SF
Building Class
B
Year Built/Renovated
1979/2023
Price
$3,525,000
Price Per SF
$137.81
Cap Rate
10.21%
NOI
$359,903
Tenancy
Single
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.27
Lot Size
2.18 AC
Zoning
SD-IT - Special District - Industrial Transportation
Parking
23 Spaces (1.02 Spaces per 1,000 SF Leased)
Frontage
272’ on Ann Street Northwest
Amenities
- Pylon Sign
Nearby Major Retailers
Property Taxes
| Parcel Number | 41-13-13-251-002 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $945,800 |
Property Taxes
Parcel Number
41-13-13-251-002
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$945,800
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COOKIES - CANNABIS RETAIL & MANUFACTURING PRO | 330 Ann St NW
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