secwatch.observer — SEC 8-K summary
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Issuer:     Zoned Properties, Inc. (ZDPY)
CIK:        0001279620
Form:       8-K
Filed at:   2022-12-05T23:59:59+00:00
Accession:  0001213900-22-077621
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Zoned Properties subsidiary acquires option to buy Michigan cannabis real estate portfolio for $1.02M
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- Paid $437,154 for exclusive 90-day option to purchase three parcels in Pleasant Ridge, Michigan for $1,020,000.
- Executed 14-year 4-month triple-net lease with Rapid Fish 2 LLC for cannabis facility; two 5-year renewal options.
- Repurchase agreement lets ZP Woodward require sellers to buy back property at cost plus $1,020,000 plus expenses.
- Seller may acquire 25% equity in ZP Woodward for $600,000 plus 12% interest, reducing monthly lease to $417,822.
- Master agreement allows seller to buy 25% interest if company acquires Grand Rapids property for ≤$1.16M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1279620/000121390022077621/0001213900-22-077621-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1279620/000121390022077621/ea169621-8k_zonedpro.htm
  HTML page:      https://secwatch.observer/filing/0001213900-22-077621

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