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Absolute NNN Medical Cannabis Dispensary in Florida

4250 South Washington Avenue, Titusville, FL, USA Map
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Listing Price $1,682,333

Status Closed
Lease Type Absolute Net
Property Type Retail
CAP Rate 6%
GLA (Sq. Ft.) 3,344
NOI $100,940
Lease Term Remaining 9 Years
Increases 3% Annually
Options 2 x 5 Years
State (BOR) FL
Broker of Record Ryan Nee
License # (BOR) BK3154667

Investment Highlights

View Property Tours
  • Well Established Retail Corridor on Highway One
    Nearby National Tenants Include Walgreens,
    McDonalds, Dunkin’, Taco Bell, Ace Hardware,
    Marriott, Wyndam, Walmart, Target, and Others
  • Robust Traffic Counts on Washington Avenue (24,936)
    and a Half Mile off of Cheney Highway (17,256 VPD)
    (Source: LandVision, CoStar, 2022)
  • Affluent Community with an Average Household
    Income of Over $68K within Five Miles of the Subject
    Asset, as of 2022
  • Subject is 40 Miles from Orlando International
    Airport, Serving 20 Million Passengers Annually (www.
    orlandoairports.net)
  • Subject is 37 Miles from Downtown Orlando with a
    Population of 284,817
  • Florida is One of Nine Income Tax Free States
  • Parks and Outdoor Recreational Facilities Nearby
    Include: Salt Lake Wildlife Management Area, Port
    Canaveral, Kennedy Space Center, Merritt Island,
    Indian Preserve Golf Club, Hangers Beach, and More

 

Investment Overview

Subject is a Prime 3,344 Square-Foot Newly Renovated MÜV Dispensary on a 0.73-Acre Lot with Ample Parking, Easy Ingress/Egress, and Strategically Located on a Signalized Intersection. Absolute NNN Lease with a 10-Year Base Term and Zero Landlord Responsibility | Three Percent Annual Rental Increases, 2 x 5-Year Options.

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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2020 Marcus & Millichap and Limon Net Lease Group

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