3423 Plainfield AveGrand Rapids, MI 49525

This exceptional Grand Rapids, MI storefront presents a compelling investment opportunity. The 1,954 square foot property, located at 3423 Plainfield Ave NE, is a single-story building on a 0.38-acre lot, operating under a 10-year absolute NNN lease (with two 5-year options) commencing October 1, 2022, and expiring October 1, 2032. Currently 100% occupied by a major Michigan cannabis retailer, the property boasts a current NOI of $340,548 and a pro-forma NOI of $361,288, resulting in a current cap rate of 10.34% and a pro-forma cap rate of 10.96%. The property, renovated in 2020, is zoned for general commercial use and benefits from approved special land use permits, ensuring long-term operational security. This investment is ideally suited for a 1031 exchange, offering significant financial upside and stability. The asking price is $3,295,000.