One Plant Cannabis Dispensary 134 Fernwood Boulevard, Casselberry, FL Cap Rate 7% Casselberry ( Florida, US ) Built

$2,273,215 USD
Dollars

BAI-MEX Bienes Raíces y Negocios

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  • Type: Commercial
  • Style: Commercial
  • Size: 5,713 sq. ft.
  • Development Level: Built
  • Lot Size: 0.6 acres
  • Year Built: 1971

Description

One Plant Cannabis Dispensary 134 Fernwood Boulevard, Casselberry, FL Cap Rate 7%

Cap Rate: 7%
NOI: $159,125
Building Size: 5,713 sqft
Lot Area: 0.6 acres
Occupancy: 100%
Lease Type: Triple Net
Year Built: 1971
Tenancy: Single

DESCRIPTION
Marcus & Millichap is pleased to present the opportunity to acquire a One Plant cannabis dispensary in the Orlando suburb of Fern Park. This One Plant offers along-term, triple net (NNN) lease with one, five-year renewal option. This lease has10 percent rent increases every five years throughout base term and option period. The brand-new location is renovated per tenant specs and includes drive-thru lanes. Medical marijuana dispensaries are considered “essential” during coronavirus pandemic.

The subject property is located eight miles from downtown Orlando; part of the Orlando metro area – one of the largest and fastest growing areas in Florida. One Plant is located off Highway17/92 with a traffic count of 57,500 vehicles, a major retail area on Altamonte Drive with a daily traffic count of 69,000 vehicles. Surrounding national retailers include Burlington, Whole Foods, Marshall’s, Publix, Aldi, Ross, Bealls, Dillard’s, JCPenney, Bed Bath & Beyond, Staples, DSW, Old Time Pottery, Petco, Orange Theory Fitness, YouFit, Chili’s, Panda Express, Chipotle, Starbucks, Advance Auto Parts, Pep Boys, Bank of America, Verizon and many more.

One Plant is two miles from Advent Health Altamonte Springs, a 398-bed hospital which cares for more than 200,000 patients annually, and 11 miles from the University of Central Florida with nearly 70,000 students, one of the largest student bodies in the U.S.

HIGHLIGHTS
• Long-Term, Triple Net (NNN) Lease with One, Five-Year Renewal Option
• 10 Percent Rent Increases Every Five Years Throughout Base Term and Option Period
• Property Includes Drive-Thru Lanes
• Medical Marijuana Dispensaries are Considered “Essential” During Coronavirus Pandemic
• Strong Demographics | Population Nearly 250,000 Within a Five-Mile Radius
• Surrounding National Retailers Include Burlington, Whole Foods, Marshall’s, Publix, Aldi, Ross, Bealls, Dillard’s, JCPenney, Bed Bath & Beyond, Staples, DSW, Old Time Pottery, Petco, Orange Theory Fitness, YouFit, Chili’s, Panda Express, Chipotle, Starbucks, Advance Auto Parts, Pep Boys, Bank of America, Verizon and Many More

For more information
Javier Tamez Martínez.
jtamez@bai-mex.com
Celular: +52 (81) 1599 75 36
# ID de Propiedad: 358038156
Podemos encontrar propiedades comerciales e industriales para invertir en cualquier ciudad y estado de estados unidos.

Attachments

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Information is deemed to be correct but not guaranteed.