Available Properties
Joyology Cannabis – Auburn Hills, MI
- 4898 Bald Mountain Rd, Auburn Hills, MI 48326
Listing Broker
Angelo Iacobelli
- angelo@amcreis.com
- (586) 200-0044
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Property Details
- Sale Price:
- Cap rate:
- Term Remaining:
- Lease Type:
- Lease Guarantee:
- $6,084,710
- 9.0%
- 20 Years
- Absolute NNN
- Corporate Guarantee
Highlights
- 8th Highest Grossing Cannabis Retailer in Michigan
- Personal Guarantee from Tenant
- Highly Affluent Market with $120K+ HH Income Near the Site
- 200K+ Residents within 5 Miles of the Site
- Daily average sales increased 32% year-over-year since opening in Feb 2023
- Highly profitable tenant
- Growing brand with 11 operating stores throughout Michigan
- New major industrial developments within 5 miles, expected to bring close to 2,000 new high-paying jobs to the area, including:
- $278 Million Piston Automotive Development at the former Palace of Auburn Hills
- 800,000 square-foot FANUC America expansion
- $41 Million Samsung SDI expansion for lithium-ion battery manufacturing
Sale Description
Absolute NNN sale-leaseback for highly-profitable cannabis dispensary. 20-year lease. Great opportunity for 1031 exchange. Potential value add if the new administration reschedules marijuana. See OM for details.
Location
Demographics
| Radius from site | population | average income |
|---|---|---|
|
3 Mile |
45,114 |
$125,350 |
|
5 Mile |
119,399 |
$115,408 |
|
10 Mile |
467,312 |
$116,502 |
