Absolute NNN Medical Cannabis Dispensary in Florida
4250 South Washington Avenue, Titusville, FL, USA Map
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 |
| Close Date | Feb 28, 2023 |
Investment Highlights
- 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.
