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Nobo 69411 M-62 2,875 SF Office Building Edwardsburg, MI 49112 $1,540,195 ($535.72/SF) 10.75% Cap Rate
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
Office
Building Size
2,875 SF
Building Class
C
Year Built
2000
Price
$1,540,195
Price Per SF
$535.72
Cap Rate
10.75%
NOI
$165,571
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
1,437 SF
Building FAR
0.10
Lot Size
0.65 AC
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PROPERTY TAXES
| Parcel Number | 14-091-108-051-20 | Improvements Assessment | $79,400 |
| Land Assessment | $20,200 | Total Assessment | $99,600 |
PROPERTY TAXES
Parcel Number
14-091-108-051-20
Land Assessment
$20,200
Improvements Assessment
$79,400
Total Assessment
$99,600
CONTACTS
-
Alexander Machado -
Daniel Gonzalez -
Ben Snyder -
Matthews Real Estate Investment Services
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Nobo | 69411 M-62
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