Zoned Properties, Inc. ZDPY has acquired an financial investment house in Nice Ridge, Michigan and entered into a very long-term, complete-net lease agreement with NOXX Cannabis to operate a retail dispensary.
“We are thrilled to announce this sizeable transaction, which marks our entry into Michigan as an investor in serious estate. This deal has offered us the possibility to add a sturdy, established operator in a appealing sector, when diversifying our portfolio. This is an illustration of Zoned Properties including a excellent asset and tenant lover to our residence financial commitment portfolio by using our value-insert financial investment solution and injecting immediate-to-buyer genuine estate targets into our pipeline,” stated Bryan McLaren, CEO of Zoned Attributes. “We are enthusiastic to reinforce our partnership with NOXX Cannabis and their govt crew.”
Transaction Highlights
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Zoned Properties has acquired the investment assets in Pleasurable Ridge, Michigan that has been entitled and permitted as a hashish retail dispensary.

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The investment residence was obtained for $4.3 million, such as $1.85 million in seller financing, which allowed Zoned Homes to additional leverage its funds stack at beautiful costs.

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The financial commitment residence is leased to NOXX Hashish less than a lengthy-term, absolute-net lease arrangement, which will generate an approximate 13.5{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} cap rate when straight-lined above the term of the lease arrangement. The lease contains 3{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} once-a-year increases in foundation rent above the existence of the lease phrase, yielding approximately $580,000 in yearly base rental income when straight-lined more than the lifetime of the lease phrase.




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