Nobo- Edwardsburg, MI

Absolute NNN Lease Structure: Zero landlord responsibilities. Tenant is responsible for real estate taxes, insurance, and all maintenance, including the roof.
Built-In Annual Rent Escalations: The lease features fixed 2.5% annual rent increases, providing a consistent hedge against inflation and driving steady net operating income growth throughout the base term and option periods.
Long-Term Lease Commitment: The tenant operates under a 15-year lease with over ±10 years of term remaining, complemented by a five-year renewal option. The long lease duration supports long-term income stability and minimizes near-term rollover risk.
Strong In-Store Sales Performance: The tenant’s sales performance is extremely strong, resulting in a very low rent-to-sales ratio. High sales performance enhances the tenant’s ability to meet lease obligations. Store-specific sales data available upon request.
Limited Market Competition: Strategically located in Edwardsburg, MI, the subject property is one of only two dispensaries in the immediate trade area. The next closest competitors are situated over ±10 miles away, underscoring the property’s strong competitive positioning and market share potential.
Proximity to National Retailers: The asset benefits from its close proximity to several national credit tenants, including McDonald’s, Taco Bell, Dollar General, and Huntington Bank. This retail synergy drives consistent traffic to the area and enhances the overall visibility and consumer accessibility of the property.

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Matt Fitzgerald