Curaleaf Cannabis Dispensary Horsham,Pennsylvania

$3,873,200
Available
Property type:Single-Tenant Net Lease

The space

  • Price: $3,873,200
  • Cap Rate: 5.75%
  • Annual Rent: $222,705
  • Rentable Square Feet: 2,803
  • Land Area: 0.291 Acres
  • Year Built: 2021
  • Lease Type: NNN
  • Lease Term: 10 Years
  • Lease Expiration: April 30, 2032

Description

255 Horsham Road
Horsham, PA 19044

Investment Highlights

  • New, 10-Year, Triple Net (NNN) Lease With Full Term Remaining
  • Brand New Location Built by Tenant in 2021 and Now Open
  • 10 Percent Rent Increases Every Five Years Throughout Base Term and Option Periods
  • Curaleaf Recently Completed the Acquisition of Grassroots | Largest Cannabis Company in the U.S., Among the Largest Globally
  • Market Leading Presence With 133 Dispensary Locations and Licenses and More Than 5,700 Team Members
  • Located on Horsham Road Which has a Daily Traffic Count of 30,000 Vehicles, and Off Easton Road With 46,000 Vehicles | 1.5 Miles from Ramps to Interstate 276 With More Than 102,000 Vehicles
  • Strong Demographics With a Population of 194,067 in Five Miles | Average Household Income Within Three Miles is $107,228, and $125,783 in Five Miles
  • Surrounding National Retailers Include Lowe’s, The Home Depot, Walmart Supercenter, Home Goods, Sam’s Club, Sprouts Farmers Market, The Fresh Market, Pet Smart, lululemon, Hobby Lobby, Verizon, Dunkin’, Anthony’s Coal Fired Pizza, Miller’s Ale House, Wendy’s, CVS, Chick-fil-A, Wawa and Many More

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a Curaleaf Cannabis Dispensary in Horsham, PA which is a prime Philadelphia metro area. This is a brand-new location built by tenant in 2021 and is now open. This Curaleaf offers a brand new, 10-year, triple net lease with 10 percent rent increases every five years throughout the base term and option periods. Curaleaf recently completed the acquisition of Grassroots, making Curaleaf the world’s largest cannabis company with a market leading presence with 133 dispensary locations and licenses, and more than 5,700 team members. 

The subject property is just 23 miles from Philadelphia, the largest city in the metro with close to 1.6 million residents. The metro is expected to add nearly 96,500 people over the next five years. The property is located on Horsham Road which has a daily traffic count of 30,000 vehicles, off Easton Road with 46,000 vehicles, and 1.5 miles from ramps to Interstate 276 with more than 102,000 vehicles.  

This Curaleaf is located just four miles from Temple University with a total enrollment of 27,306 students across eight campuses and less than five miles from Jefferson Abington Hospital, which has 665 beds and over 5,500 employees, including more than 1,100 physicians. Surrounding national brands include Lowe’s, The Home Depot, Walmart Supercenter, Home Goods, Sam’s Club, Sprouts Farmers Market, The Fresh Market, Pet Smart, lululemon, Hobby Lobby, Verizon, Dunkin’, Anthony’s Coal Fired Pizza, Miller’s Ale House, Wendy’s, CVS, Chick-fil-A, Wawa and many more. 

Sean Beuche
Broker of Record
Lic#: RM424190
Firm Lic #: RB062197C

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