Retail    

Dunegrass & Roasted Café 

 Cadillac, Michigan 

Price: $2,049,000

Cap Rate (Year 1): 8.20%

Cap Rate (Avg): 9.40%

 

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Exceptional

Unit-Level Sales

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3.00% Annual

Rent Increases

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10-Year

NNN Leases

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Full

2022 Renovation

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Rapidly

Growing Tenant

For more details on this exclusive listing

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INVESTMENT HIGHLIGHTS

  • Exceptional Unit-Level Sales 
    Incredibly strong unit-level sales, with rent-to-sales ratio under 2.90%. Call broker for details.
  • Rapidly Expanding Tenant 
    Successful, growing concept with six locations and more on the way.  
  • Growing Industry
    In 2021 sale of cannabis exceeded $23 billion in the United States. 
  • Top U.S. Cannabis Market
    Michigan is the second largest cannabis market in the U.S. with reported cannabis sales of $1.8 billion.
  • Recently Renovated Building
    Building was fully renovated in 2022, including new roof, mechanical, electrical, flooring, paint, ceiling and facade.

  • 3.00% Annual Rental Increases
    Annual rent to increase by over 30% during the Base Lease Term.
  • 10-Year NNN Leases
    Leases are NNN, with minimal Landlord obligations offering a passive investment opportunity. 
  • Limited Local Competition Via Licensing Regulations
    A max of two dispensaries are permitted within Cadillac city limits, and surrounding townships have voted to not permit any dispensaries. 
  • "Social District" Location
    Property is within Cadillac’s Social District, which allows for outdoor consumption of alcoholic beverages within the designated social boundaries of downtown, a major tourist attraction and draw for local bars & restaurants. 

 

Exclusively Listed By

Brandon Duff

Senior Vice President & Managing Director
  bduff@northmarq.com      +1 312.240.0162

Mackenzie Wolfgram

Associate Vice President
  mwolfgram@northmarq.com      +1 312.777.2454

Tom Fritz

Senior Vice President & Managing Director
  tfritz@northmarq.com   

Matt Spangenberg

Senior Associate
  mspangenberg@northmarq.com   

Austin Duff

Senior Associate
  aduff@northmarq.com   

Brandt Fuller

Senior Analyst
  bfuller@northmarq.com   

In Association With
Melissa McKenzie

Michigan Broker #6502387293

Northmarq

303 E. Wacker Drive, Suite 1111
Chicago, IL 60601


northmarq.com