520 Hammontree Dr
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520 Hammontree Dr
27,000 SF 100% Leased Industrial Building Morenci, MI 49256 $2,806,300 ($104/SF) 9.50% Cap Rate
Investment Highlights
- New 10-Year Leases Signed at COE
- Annual Rent Increases
- Newly Built Construction
- NN Lease - Minimal Landlord Responsibility
Executive Summary
Fortis Net Lease is pleased to present this two-tenant, free-standing Cannabis Cultivating large scale extraction and processing facility located at 520 Hammontree Dr, Morenci, MI. At the close of escrow, both tenants will sign brand new 10-year leases which will expire in 2034. The NN leases will require minimal landlord responsibilities and features annual CPI increases. This is an ideal opportunity for an investor to purchase a passive income real estate asset with minimal responsibilities. The Landlords only responsibilities are roof and structure while the tenants are responsible for all other expenses including parking lot, HVAC, property taxes and insurance.
Property Facts
| Price | $2,806,300 | Building Class | B |
| Price Per SF | $104 | Lot Size | 8.47 AC |
| Sale Type | Investment | Rentable Building Area | 27,000 SF |
| Cap Rate | 9.50% | No. Stories | 1 |
| Property Type | Industrial | Year Built | 2017 |
| Property Subtype | Distribution | Clear Ceiling Height | 24 FT |
| Price | $2,806,300 |
| Price Per SF | $104 |
| Sale Type | Investment |
| Cap Rate | 9.50% |
| Property Type | Industrial |
| Property Subtype | Distribution |
| Building Class | B |
| Lot Size | 8.47 AC |
| Rentable Building Area | 27,000 SF |
| No. Stories | 1 |
| Year Built | 2017 |
| Clear Ceiling Height | 24 FT |
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $1,572,000 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,572,000
zoning
| Zoning Code | I-2 (Industrial) |
| I-2 (Industrial) |
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520 Hammontree Dr
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