secwatch.observer — SEC 8-K summary
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Issuer:     Zoned Properties, Inc. (ZDPY)
CIK:        0001279620
Form:       8-K
Filed at:   2024-02-29T23:59:59+00:00
Accession:  0001213900-24-018355
Event type: other_material
Sentiment:  positive
Materiality: 0.60
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Zoned Properties to acquire Surprise, AZ property for ~$1.75M, lease with Sunday Goods at 12.7% cap rate
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- Total investment of ~$1.75M includes purchase price, closing costs, and seller improvements; $1.0M tenant improvement allowance for Sunday Goods.
- Absolute net lease with 15-year term, 3% annual rent increases, yielding ~$372k annual base rent (12.7% cap rate straight-lined).
- Final cannabis approvals received from City of Surprise for retail dispensary operation.
- Arizona cannabis market strong, over $1.2B sales in 2023; Surprise ranked top for young homebuyers.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1279620/000121390024018355/0001213900-24-018355-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1279620/000121390024018355/ea0200886-8k_zonedpro.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-018355

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