ZONED PROPERTIES INC - ZDPY STOCK NEWS

Zoned Properties, Inc. (ZDPY) has acquired an investment property in Chicago, Illinois and entered into a long-term lease agreement with Justice Cannabis Co.'s BLOC Dispensaries to operate a retail dispensary. The investment property was acquired for approximately $1.6 million and is leased under a long-term, absolute-net lease agreement, which will produce an approximate 16.5% Cap Rate over the 15-year term of the lease. The lease includes 3% annual increases in base rent, yielding approximately $265,000 in annual base rental revenue. Illinois' cannabis market is experiencing significant growth, with over $1.5 billion in dispensary sales in 2023, and Chicago being in a prime retail area for cannabis retail locations.

Zoned Properties, Inc. (OTCQB:ZDPY) announced its third quarter financial results and operational highlights, revealing an increase in revenues and net profitability. The company's strong balance sheet positions it well for expansion, with a focus on direct-to-consumer real estate leased to top cannabis retailers. Zoned Properties also highlighted its nationwide services network and proprietary cannabis technology platform, REZONE, aimed at democratizing real estate information for the regulated cannabis industry.

Zoned Properties (OTCQB:ZDPY) reported a 46% increase in revenue for 2022, totaling $2.66 million. Operating expenses also rose by 56% to $2.77 million. Positive cash flow reached $871,901, marking a 78% growth year-over-year. Despite these gains, the company faced a net loss of $574,355, up from a loss of $165,819 in 2021. Cash on hand improved significantly to $4.34 million as of December 31, 2022. The company is expanding its acquisition pipeline, including a recent $4.3 million property acquisition in Michigan with a 13.5% cap rate.

Zoned Properties (OTCQB: ZDPY) announced its acquisition of a $4.3 million investment property in Pleasant Ridge, Michigan, designated for a cannabis retail dispensary operated by NOXX Cannabis. This long-term, absolute-net lease agreement is expected to yield a 13.5% cap rate over the lease's term, with annual rental increases of 3%. The investment strengthens Zoned Properties' portfolio and marks its entry into the Michigan market, leveraging $1.85 million in seller financing to optimize capital. The company continues to focus on real estate for emerging industries, particularly cannabis, promoting a value-add investment strategy.

Zoned Properties (OTCQB:ZDPY), a leader in real estate development for cannabis and other regulated industries, will present at the Planet MicroCap Showcase: VIRTUAL 2022 on December 7, 2022, at 11:00 AM EST. CEO Bryan McLaren will lead the presentation. The company has reported a 60% revenue growth year-over-year and secured a $4.5 million debt facility for new property investments. Zoned Properties maintains a clean capital structure with only 12.2 million shares outstanding and continues to generate positive cash flow as it expands its operations.

Zoned Properties (OTCQB:ZDPY) announced a Lease Amendment and Assignment for its Tempe Property, granting operational control to Green Dot Labs. The agreement includes a one-time payment of $300,000 and a tenant commitment of $3 million for property improvements. Green Dot Labs, a prominent cannabis brand, will establish its Arizona operations at this site, expanding its footprint beyond Colorado. This partnership aims to enhance Zoned Properties' tenant roster and increase the value of its investment in the rapidly growing cannabis industry.