77Listing ID: 84161GET REAL ESTATE FINANCING
Cannabis & Hemp Insurance
Price : $1,069,250
Listing Type : Retail For Sale
Status : ACTIVE
Size : 1833
Lot Size (Acres) : .42
Cap Rate : 6
Cannabis or Hemp Use Allowed? : Cannabis
Year Built : 1953
Company Name : Trulieve
  • 10 YEARS REMAINING ON LEASE TERM

    This subject lease features a 10-year remaining NNN lease term with a 3% annual rent increase.

  • FLORIDA MARKET LEADER IN CANNABIS SALES

    Florida’s cannabis market is enormous and continues to grow rapidly. The tenant, Trulieve, is the sole dominant player in Florida cannabis as they sell more than half of the cannabis in the state despite operating less than one-fifth of dispensaries statewide. As of April, Trulieve owned 58 of the dispensaries in Florida and sold 58% of the flower. Trulieve’s per-store flower sales are three times higher than the state average.

  • HIGH GROWTH CANNABIS MARKET

    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%.

  • SIGNIFICANT TENANT INVESTMENT | BRAND NEW RENOVATIONS

    This Trulieve location features brand new 2020 renovations that also include a new parking lot, in which the tenant has invested +/- $189,000.

  • NOTABLE SURROUNDING RETAIL TENANT MIX

    This Trulieve location is within close proximity to many national retailers including Domino’s Pizza, Jimmy John’s, Taco Bell, Wendy’s, Dunkin Donuts, Starbucks, Publix Super Market, Winn-Dixie, and Dollar Tree among others.

  • EXPECTED ~11% POPULATION GROWTH IN NEXT 5 YEARS

    The surrounding area is expected to see an 11.41% increase in population over the next five years.

  • EXCELLENT VISIBILITY AND ACCESS ALONG W. MANATEE AVENUE

    The subject property has excellent visibility and easy access along W. Manatee Avenue, which sees +/- 42,000 vehicles per day.

  • ADJACENT TO COUNTRY CLUB

    The property is directly adjacent to the Bradenton Country Club, which has +/- 420 members. The country club recently received a $2.5 million renovation of the clubhouse and golf course, which adds value to the surrounding area and increases demand for the community.

  • INCOME TAX-FREE STATE

    Investors will benefit from the personal income tax-free environment that Florida offers.

Contact Listing Owner
Cannabis & Hemp Banking
Related Listings