Single Tenant Absolute NNN Dispensary (Retail) Opportunity

Description:

Single Tenant Absolute NNN Dispensary (Retail) Opportunity

Presented by The Midwest Investment Advisors Team with KW Commercial and Keller Williams ONEChicago, this offering presents a prime investment opportunity featuring a single-tenant, absolute NNN dispensary with a corporate guarantee.

Key Highlights:

Property Address: 720 E. North Ave., Carol Stream, Illinois 60188

Rentable Area: 6,878 SF

Land Area: 0.76 AC

Year Built / Remodeled: 1980 / 2024

Tenant: Bisa Lina Cannabis Dispensary

Corporate Guarantee: Ascend Wellness Holdings INC

Lease Type: Absolute NNN (No Landlord Responsibilities)

Lease Term: 10 Years

Annual Increases: 2.5%

Options: 2 (5-Year)

Rent Commencement: May 2024

Lease Expiration: May 2034

Financial Overview:

Pricing: $3,750,000

Net Operating Income: $330,000

Cap Rate: 8.80%

This property offers a robust investment opportunity with a new 10-year lease, featuring a corporate guarantee from Ascend Wellness Holdings INC, ensuring a reliable income stream. The absolute NNN lease structure eliminates landlord responsibilities, providing a truly passive investment.

This investment opportunity is ideal for those seeking a secure, long-term asset with minimal management requirements and the potential for steady income growth.




Investment Benefits:

Stable Income Stream: With a corporate-backed tenant and a 10-year lease, investors can expect consistent and reliable income.

Annual Rent Increases: The lease includes 2.5% annual rent increases, enhancing the property's long-term financial performance.

Prime Location: Situated in Carol Stream, Illinois, the property benefits from strong local demographics and a strategic location.

Recent Renovations: The property will be remodeled in 2024, ensuring modern facilities and potentially higher tenant retention.

Expansion Options: Two 5-year lease extension options provide long-term stability and potential for increased returns.