secwatch.observer — SEC 8-K summary
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Issuer:     Zoned Properties, Inc. (ZDPY)
CIK:        0001279620
Form:       8-K
Filed at:   2024-07-10T23:59:59+00:00
Accession:  0001213900-24-060285
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1279620/000121390024060285/0001213900-24-060285-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1279620/000121390024060285/ea0208751-8k_zoned.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-060285

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