Posted on September 29, 2021 / 7Listing ID: 285324GET REAL ESTATE FINANCING
Cannabis & Hemp Insurance
Price : $2,917,000
Status : ACTIVE
Cap Rate : 6.00
Cannabis or Hemp Use Allowed? : Cannabis and/or Hemp
License Type : Medical & Recreational
Year Built : 2005 / 2021
Sale Type : Cash
Company Name : Curaleaf Cannabis Dispensary

Marcus & Millichap is pleased to present the opportunity to acquire a Curaleaf Cannabis Dispensary in Stuart, Florida. The building includes drive-thru lanes. During these uncertain times marijuana dispensaries remain open as they are considered “essential” businesses. Curaleaf has a market leading U.S. presence across 23 states with 108 dispensary locations and licenses.

This Curaleaf offers a brand new, 10-year, triple net lease. There are two, five-year tenant renewal options and 10 percent rent increases every five years throughout the base term and option periods. Curaleaf recently completed the acquisition of Grassroots, creating the largest cannabis company in the U.S. and among the largest globally.

This Curaleaf is located on Federal Highway with a daily traffic count of more than 45,500 vehicles. Stuart is known as the Sailfish Capital of the World, driving tourism activity in the area, and boasts strong demographics with a population of over 101,800 in five-mile radius.

The subject property is 1.5 miles from downtown Stuart, less than two miles from Cleveland Clinic Martin North Hospital, a 244-bed facility, six miles from Martin South Hospital, with more than 100 beds and 30 physicians, and 2.5 miles from Witham Field Airport. Surrounding national retailers include The Home Depot, Lowe’s, Publix, Aldi, Home Goods, TJ Maxx, Mattress Firm, Office, Depot, Rack Room Shoes, Five Below, Staples, Big Lots, Baer’s Furniture, Harbor Freight Tools, Petco, McDonald’s, Wendy’s, Arby’s, Panera Bread, Outback Steakhouse, Bonefish Grill, IHOP, KFC, Verizon, Chase Bank, Walgreens and many more.

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Cannabis & Hemp Banking
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