Zoned Properties sells Michigan cannabis real estate for $700K plus assumption of $1.7M in land contracts

Zoned Properties, Inc.

Closed sale of Woodward Property (23600-23634 Woodward Ave, Ferndale/Pleasant Ridge, MI) for $700,000 cash.
Buyer assumed $1,327,371 Pearlman Land Contract and $374,826 Gangnier Land Contract obligations.
Seller provided $100,000 credit for closing on or before May 1, 2026; closing occurred same day.
Property includes fee interest, vendee interests in two land contracts, and a cannabis lease (Rapid Fish 2, LLC).
Buyer obtained consents from land contract vendors and released Seller from post-closing liability.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Zoned Properties, Inc. entered into Woodward Agreement with Woodward RE 1 LLC valued at $700,000 (effective 2026-05-01).

Action: entry
Agreement: asset purchase
Counterparty: Woodward RE 1 LLC
Value: $700,000
Effective: 2026-05-01

Exact text from the filing

On May 1, 2026, Zoned Properties, Inc. (the “Company”), through its wholly owned subsidiary ZP RE MI Woodward, LLC, a Michigan limited liability company (the “Seller”) entered into and closed on an Agreement of Sale and Escrow Instructions (the “Woodward Agreement”) with Woodward RE 1 LLC, a Michigan limited liability company, or its nominee (“Woodward Buyer”).

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Zoned Properties, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-26-052172

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