520 Hammontree DrMorenci, MI 49256

Property Details for 520 Hammontree Dr

Property size (Sq ft)

27,000 SF

Property type

Industrial properties

Property subtype

Other warehouses

Description

This exceptional Class A industrial property in Morenci, Michigan, presents a compelling investment opportunity. The 27,000-square-foot facility, built in 2018, houses a multi-tenant cannabis cultivation, extraction, and processing operation. Two tenants occupy the space under absolute NNN leases with a remaining term of 10 years, ensuring a stable income stream. Each lease includes a 2% annual rent increase, providing built-in growth potential. The property boasts a 10% cap rate and a net operating income (NOI) of $275,000, with a price per square foot of $101.85. The 100% occupancy rate and long-term leases minimize risk and maximize return. Located at 520 Hammontree Dr, Morenci, MI 49256, this property offers a unique blend of strong cash flow and long-term stability in a growing industry. The sale-leaseback structure eliminates landlord responsibilities, making this an exceptionally low-maintenance investment. This is a rare opportunity to acquire a high-performing asset with significant upside potential. The property's strategic location in Lenawee County further enhances its appeal.

Location Insight

City

Morenci

County

Lenawee

State

Michigan

Latitude

41.7143

Longitude

-84.2059

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