secwatch.observer — SEC 8-K summary
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Issuer:     Zoned Properties, Inc. (ZDPY)
CIK:        0001279620
Form:       8-K
Filed at:   2023-03-02T23:59:59+00:00
Accession:  0001213900-23-016468
Event type: other_material
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 2.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Zoned Properties acquires Michigan cannabis retail property for $4.3M, leases to NOXX at 13.5% cap rate
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- Acquired Pleasant Ridge, MI property for $4.3M, including $1.85M seller financing.
- Entered long-term absolute-net lease with NOXX Cannabis; 3% annual rent increases.
- Straight-lined annual base rent ~$580k, producing ~13.5% cap rate over lease term.
- Marks entry into Michigan as real estate investor; diversifies portfolio.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1279620/000121390023016468/0001213900-23-016468-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1279620/000121390023016468/ea174519-8k_zonedpro.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-016468

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer