520 Hammontree Dr, Morenci, MI 49256
27,000 SF | 100% Leased | 4-Star Industrial Building | Morenci, MI 49256 | $2,806,300 ($104/SF) | 9.50% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,806,300
- Property Type
-
Industrial
- Price / Square Foot
- $104
Listing Contacts
Marvin DeLaura
Verified Profile
Doug Passon
Verified Profile
- Property Info
Property Overview
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 Details
- Class
- B
- Year Built
- 2017
- Stories
- 1
- Property Subtype
- Distribution
- Lot Size (sq. ft)
- 368,953 SF
Highlights
- New 10-Year Leases Signed at COE
- Newly Built Construction
- Annual Rent Increases
- NN Lease - Minimal Landlord Responsibility
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