Cannabis Cultivating & Processing
520 Hammontree Dr, Morenci, MI 49256
Two-tenant, free-standing cannabis facility with new 10-year leases.
Type:Industrial
Property size:
27,000 SFPrice / SF:
$101/SF- Added:
- Apr 2, 2024
- Days on Market:
- 781
- Last Refresh:
- May 13 at 8:13 pm
Property Features for 520 Hammontree Dr
General Information
- Standard status
- Active
- Size
- 27,000 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 2018
Listing agent Marvin DeLaura License #01859235
Listing office Fortis Net Lease
Listing date Apr 2, 2024
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Fortis Net Lease
HighLights
- Two tenants with brand new 10‑year NNN leases expiring in 2034, providing long‑term passive income.
- Cannabis Cultivating large scale extraction and processing facility.
- NNN leases require zero landlord responsibilities except for roof and structure, ensuring minimal management effort.
- 2. 0% annual rent increases built into the leases, offering protection against inflation and potential income growth.
- Property was built in 2018, indicating relatively new construction.
- Located in Morenci, MI, a city with a welcoming community and blend of rural beauty.
Overview
This is a two-tenant, free-standing cannabis cultivating, large-scale extraction, and processing facility. The property is located in Morenci, Michigan, in Lenawee County, near the Ohio border. At the close of escrow, both tenants will sign new 10-year leases expiring in 2034. The NNN leases require zero landlord responsibilities and feature 2.0% annual increases. The landlord is responsible for roof and structure, while the tenants are responsible for all other expenses including the parking lot, HVAC, property taxes, and insurance. The property is 27,000 square feet. Morenci offers a welcoming community and a blend of rural beauty. The city features a mix of residential neighborhoods, parks, and local businesses, creating a tight-knit community feel. Residents and visitors alike can explore the town's history through its historic architecture, including well-preserved buildings that reflect the area's heritage. The city's parks provide recreational spaces for outdoor activities and gatherings, contributing to the overall quality of life. The city embraces its roots while embracing modern amenities, making it a delightful place to call home or visit for those seeking a peaceful and scenic escape in the heart of the Midwest. This property is an ideal opportunity for an investor to purchase a passive income real estate asset with minimal responsibilities.
Location Intelligence
Current Use by Public Records
Cannabis Properties
Map
- City
- Morenci
- County
- Lenawee
- State
- Michigan
- Longitude
- -84.2204
- Latitude
- 41.7515
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FAQs
What type of property is this?
Cannabis property - Two-tenant, free-standing cannabis facility with new 10-year leases.
Where is this cannabis property located?
The property is located at 520 Hammontree Dr Morenci, MI.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Two tenants with brand new 10‑year NNN leases expiring in 2034, providing long‑term passive income.; Cannabis Cultivating large scale extraction and processing facility.; NNN leases require zero landlord responsibilities except for roof and structure, ensuring minimal management effort.
