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Industrial Property For Sale: Long-Term Sale Leaseback Investment Opportunity

700 State Highway 32, Kingston, OK, USA
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Cannabis Real Estate Listings | Cannabis Greenhouses For Sale

Listing ID : 545946

Posted on April 12, 2023 View Count 63

Price For Sale:
$2,448,000
Cap Rate:
9.5%
Size:
27,360 Sq. Ft.
Lot Size:
8.24 Acres
Power:
3 phase, heavy amperage AMPS
Cannabis or Hemp Use:
Cannabis Only
Terms of Sale:
Cash, Financing
Company Name:
Merritt & Hale Farms, LLC
Phone:
7138143798
Email:
william.alcorn@finialgroup.com
Description :

The Property is ideally located in Kingston, OK on Hwy 32, which gives great access to Hwy 75 and I-35 which can be used to reach most of the North Texas market. The Seller, M&H Farms currently use the facility as a medical cannabis grow farm. With the upcoming referendum in Oklahoma to legalize cannabis recreationally in March 2023, M&H Farms is looking to raise profits through a sale-leaseback in order to increase production with the likely regulatory changes coming.

M&H Farms will sign a 5-7 year lease at the time of closing at $8.50 NNN with two 5-year options to renew at the then prevailing Fair Market Rental Value. This gives investors the unique opportunity to acquire an income-producing property at below replacement cost, with a Tenant that is positioned for tremendous growth over the next 3-5 years.

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