Lansing, Michigan

🌿 Single-Tenant Skymint Dispensary | Long-Term Absolute NNN Lease | Guaranteed by Multi-State Operator | 8.75% Cap Rate

📊 Investment Highlights

• Asking Price: $1,256,000

• Cap Rate: 8.75%

• Net Operating Income (NOI): $262,573

• Property Type: Retail / Storefront (Single Tenant)

• Tenant: Skymint (Guaranteed by SunStream USA 1, Inc.)

• Lease Type: Absolute NNN (Zero Landlord Responsibilities)

• Remaining Lease Term: ±9.7 Years

• Rent Escalations: 2.5% Annually

• Square Footage: 3,445 SF

• Lot Size: 0.72 Acres

• Year Renovated: 2020

• Ownership: Fee Simple

• Location: 1015 E Saginaw Street, Lansing, Michigan

• Proximity: 2.5 Miles from Michigan State University (MSU)

• Additional Tenant Payment: 1.5% Property Management Fee (Enhances Owner Cash Flow)

• Parking: Ample On-Site Parking with Easy Ingress/Egress

🧾 Executive Summary

Northmarq is proud to offer the fee simple sale of a single-tenant retail asset leased to Skymint, one of Michigan’s best-known cannabis retail brands. The property features a 3,445-square-foot freestanding building on a 0.72-acre parcel, ideally located at 1015 E Saginaw Street, just 2.5 miles from Michigan State University — the largest university in Michigan and a major regional economic driver.

The lease is guaranteed by SunStream USA 1, Inc., a subsidiary of a multi-state operator (MSO) with a strong regional presence. Operating under a true Absolute NNN lease, this asset provides investors fully passive income with zero landlord obligations and predictable 2.5% annual rent escalations, ensuring steady NOI growth throughout the base term.

Additionally, the tenant pays a 1.5% property management fee directly to ownership, further increasing cash flow and simplifying operations. With ±9.5 years of term remaining and two renewal options, this property offers long-term stability, credit-backed tenancy, and an attractive 8.75% cap rate in a proven cannabis market.

🏢 Property Overview

• Property Type: Retail

• Sub Type: Storefront (Single-Tenant Cannabis Retail)

• Tenant: Skymint (SunStream USA 1, Inc.)

• Square Footage: 3,445 SF

• Lot Size: 0.72 Acres

• Lease Type: Absolute NNN

• Lease Term Remaining: ±9.7 Years

• Annual Rent Escalations: 2.5%

• Cap Rate: 8.75%

• NOI: $262,573

• Price Per SF: $364.55

• Renovation Year: 2020

• Ownership: Fee Simple

• Zoning: Commercial

• Parking: Ample On-Site (Easy Access from E. Saginaw St.)

• Visibility: Strong frontage along a high-traffic retail corridor

📍 Location Advantage

Located on E. Saginaw Street, one of Lansing’s most traveled corridors, the property benefits from strong daily traffic counts, high visibility, and proximity to major retail and educational anchors. Being only 2.5 miles from Michigan State University, Skymint draws from a consistent customer base of students, staff, and local residents, reinforcing its long-term revenue stability.

Lansing ranks among Michigan’s strongest cannabis markets, with robust consumer demand, favorable regulations, and limited direct competition in the immediate trade area. Its central location within the MSU-East Lansing corridorensures ongoing population growth and steady commercial expansion.

💡 Summary of Opportunity

• ✅ Absolute NNN lease – true passive income investment

• 💸 2.5% annual rent increases + 1.5% management fee = enhanced NOI growth

• 🏢 Fully renovated freestanding building (2020)

• 🌿 Corporate guarantee by major multi-state cannabis operator (SunStream USA 1, Inc.)

• 📍 Prime location 2.5 miles from Michigan State University

• 💰 Below-market rent and low price per square foot – strong value basis

• 🔒 Secure, long-term lease with ±9.7 years remaining