Gage Dispensary | 1551 Academy St
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Gage Dispensary 1551 Academy St
49,630 SF Industrial Building Ferndale, MI 48220 $7,230,256 ($146/SF) 9% Cap Rate
Investment Highlights
- Absolute NNN Lease with Annual Increases
- Dominant Michigan Cannabis Operator
- Top U.S. Cannabis Market
- Best-in-Class Operator
- Growing Industry
- Vacation Destination & Tourism
Executive Summary
Northmarq is pleased to offer for sale to qualified investors the opportunity to purchase a fee simple interest in the Gage property located in Ferndale, Michigan (the “Property”). The Property consists of a 46,400-squarefoot freestanding retail building on a 1.52-acre parcel of land. Gage is operating under an absolute NNN lease with zero landlord responsibilities whatsoever, offering a truly passive investment asset. The lease also features 2.33% annual rent escalations throughout the base and option terms, providing investors with a boost to overall cash flows and a significant hedge against inflation.
Property Facts
| Price | $7,230,256 | Lot Size | 1.52 AC |
| Price Per SF | $146 | Rentable Building Area | 49,630 SF |
| Sale Type | Investment NNN | No. Stories | 1 |
| Cap Rate | 9% | Year Built/Renovated | 1970/2020 |
| Property Type | Industrial | Tenancy | Single |
| Property Subtype | Manufacturing | Parking Ratio | 0.64/1,000 SF |
| Building Class | C | No. Drive In / Grade-Level Doors | 2 |
| Price | $7,230,256 |
| Price Per SF | $146 |
| Sale Type | Investment NNN |
| Cap Rate | 9% |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Building Class | C |
| Lot Size | 1.52 AC |
| Rentable Building Area | 49,630 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1970/2020 |
| Tenancy | Single |
| Parking Ratio | 0.64/1,000 SF |
| No. Drive In / Grade-Level Doors | 2 |
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease End
- Gage Dispensary
- -
- -
- -
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| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease End | ||
| Gage Dispensary | - | - | - | - |
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PROPERTY TAXES
| Parcel Number | 25-35-126-021 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $968,160 |
PROPERTY TAXES
Parcel Number
25-35-126-021
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$968,160
zoning
| Zoning Code | M-2, General Ind. |
| M-2, General Ind. |
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Christian Tremblay -
Northmarq
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Gage Dispensary | 1551 Academy St
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