Posted on January 10, 2022 / 89Listing ID: 327026APPLY FOR A REAL ESTATE LOAN
Cannabis & Hemp Insurance
Price : $2,632,500
Status : ACTIVE
Cap Rate : 6.40
Cannabis or Hemp Use Allowed? : Cannabis and/or Hemp
License Type : Medical
Year Built : 1987
Sale Type : Cash

Marcus & Millichap is pleased to present the opportunity to acquire a two-tenant building in Daytona Beach, FL occupied by a Medical Cannabis Dispensary & Edward Jones. The property includes drive-thru lanes and the tenant suite for the Medical Cannabis Dispensary was recently renovated by the tenant, store opened April 2022; Edward Jones is currently operating in the building.

Edward Jones has more than 15,000 locations in North America, more branch offices throughout the United States than any other brokerage firm in the country. Red White & Bloom is doing business in Florida as HT Medical Cannabis. The company is positioning itself to be one of the top three multi-state cannabis operators active in the U.S. Red White & Bloom is predominately focusing its investments on major markets in the U.S., including Michigan, Illinois, Massachusetts, California, and Florida.

Daytona Beach and its surrounding area has very strong demographics and traffic counts. The property is located on Beville Road with a daily traffic count of 29,500 vehicles, and off Clyde Morris Blvd with 25,000 vehicles and is conveniently within close proximity to Interstate 95, with a daily traffic count of more than 66,000 vehicles. Surrounding national retailers include Walmart Supercenter, Publix, Aldi, Office Depot, Planet Fitness, Best Buy, PetSmart, Tire Kingdom, Family Dollar, Dollar Tree, Walgreens, 7-Eleven, Bank of America, McDonald’s, Taco Bell, Pizza Hut, Dunkin Donuts and Many More.

The subject property is two miles from Halifax Health Medical Center, with 595 staffed beds and 552 doctors, 2.5 miles from Daytona International Speedway, which generates an estimated $1.6 Billion annually for the local economy, and three miles from Daytona Beach International Airport. Daytona Beach is home to four colleges and universities, in addition to several technical and vocational institutes.

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