In the fiscal year 2019, Liberty Health Sciences recorded a record revenue of $37.8 million, which was a 5x increase from the previous year. With this success, Liberty Health Sciences opened nine stores in 2019 and now has 26 locations across the U.S. as of July 2020.
Florida’s cannabis market is enormous and continues to grow rapidly. Liberty Health operates solely in Florida and has generated positive operating cash flow in each of the past two quarter, as well as positive free cash flow last quarter. Liberty Health has a 6% market share while operating 10% of dispensaries state-wide.
According to Seeking Alpha, Florida is growing rapidly with THC sales up nearly 11x since February and growing at a CAGR of 199%, and flower sales up 3.4x since July 2019, growing at a CAGR of 406%.
This Liberty Health Sciences location features brand new 2020 renovations, in which the tenant has invested over $100,000.
The subject property is located within a dense retail trade area with multiple national tenants including Olive Garden, Chipotle Mexican Grill, Panera Bread, Chick-fil-A, Buffalo Wild Wings, KFC, Dick’s Sporting Goods, Best Buy, PetSmart, and Dollar Tree among many others.
This Liberty Health Sciences location has easy access along Cortez Road and West 44th Avenue, which sees an average of +/- 55,000 vehicles per day.
This property will benefit from the nearby apartment complex, Oasis at Belmont Park Apartments, which has over 230 total units and is within walking distance to this location.
This Liberty Health Sciences location benefits from the densely populated area with a total of +/- 194,261 residents within a 5-mile radius and average household income of +/- $64,181.
The surrounding area is expected to see a 10.52% increase in population growth within a 5-mile radius between 2020-2025.
Investors will benefit from the personal income tax-free environment that Florida offers.