3518 Grange Hall Rd Holly, MI 48442-1006

Property Details for 3518 Grange Hall Rd

Year built

1984

Lot size

0.48 lot acres

Property size

1,344 SF

Property type

Office buildings

APN

IH-01-28-427-013

APU

IH0128427013

Description

This exceptional investment opportunity presents a fee-simple interest in a 1,800 square foot, free-standing retail building occupied by Lume Cannabis in Holly, Michigan. The property sits on a 0.77-acre lot in a prime retail corridor, boasting high visibility and accessibility with over 13,200 vehicles passing daily. The property benefits from a brand new 15-year absolute NNN lease, commencing July 1, 2023, and expiring June 30, 2038, with a corporate guarantee from Lume Cannabis, a leading Michigan retailer. The lease includes annual rent increases of 2.00% for the first ten years and 1.50% for years 11-15, providing a hedge against inflation. Three 5-year lease options exist, potentially extending occupancy to 2053. The asking price is $3,333,333, representing a cap rate of 8.25% and a price per square foot of $1,851.85. The property's strong location, surrounded by national retailers like McDonald's, Wendy's, and CVS, ensures high foot traffic and consumer visibility. The building, constructed in 2023, is a single-story structure with excellent access and visibility, situated near US Hwy 75. This is a rare opportunity to acquire a high-performing, long-term net lease investment in a limited-license market with minimal competition. The property's Net Operating Income (NOI) is $275,000. The property's address is 3518 Grange Hall Rd, Holly, MI 48442, with APN numbers 01-28-427-013 and 01-28-427-012.

Location Insight

City

Holly

County

Oakland

State

Michigan

Longitude

-83.6292

Latitude

42.806

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments