Zoned Properties acquires Surprise, AZ property; annualized rental revenue reaches $3M

Zoned Properties, Inc.

Acquired property in Surprise, AZ for ~$1.60M including purchase price, closing costs, and developer improvements.
Obtained $1.62M non-recourse construction loan from a private family office lender (12% interest, 5-year term).
Property leased to Sunday Goods under absolute-net lease with 13.4% effective cap rate and $350K annual base rent (3% annual increases).
Tenant improvement allowance of $1.0M provided for Sunday Goods to build retail dispensary.
Transaction marks milestone of $3M total annualized rental revenue across portfolio.

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