Curaleaf Dispensary Brandon, Florida

$2,357,142
Cap Rate: 7.00%
Available
Property type: Single-Tenant Net Lease

Property Details

Cap Rate: 7.00%
Price: $2,357,142
Rentable Square Feet: 7,286
Annual Rent: $165,000
Price PSF: $323.52
Year Built/Reno: 1989 / 2020
Lease Guarantor: Curaleaf Holdings, Inc.
Lease Type: NNN
Lease Term: 10 Years
Option Periods: 2, 5-Year Options
Rent Increases: 2% Annually
Lease Expiration: 8/30/2030

846 East Brandon Blvd
Brandon, FL 33511

Investment Highlights

  • Curaleaf is the Largest National Retail Dispensary Brand in the Country
  • Medical Marijuana Dispensaries are Considered “Essential” Businesses During Coronavirus Pandemic
  • New Location Scheduled to Open Summer 2020; Currently Under Renovation
  • Brand New, 10-Year, NNN Lease With No Landlord Responsibilities
  • Two, Five-Year Renewal Options With Two Percent Annual Rent Increases Throughout Base Term and Options
  • Exceptional Location on Brandon Boulevard with a Daily Traffic Count of More Than 60,000 Vehicles
  • Major Retail Corridor With Surrounding National Retailers Including Home Depot, Walmart Supercenter, Lowe’s, Best Buy, Sam’s Club, Publix, TJ Maxx, Marshall’s, Michael’s, Staples, AMC Movie Theater, Red Lobster, Chili’s Grill & Bar, Outback Steakhouse, Anthony’s Coal Fired Pizza, Chick-fil-A, McDonald’s, Walgreens, CVS and Many More
  • Located in High Growth Submarket of Tampa with a Population Over 200,000 Within a Five-Mile Radius

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire Curaleaf, a medical marijuana dispensary in Brandon Florida, and part of the Tampa MSA. During these uncertain times this is a great investment because Medical Marijuana Dispensaries remain open as they are considered “essential” businesses. Curaleaf is the largest national retail dispensary brand in the country.

 

This Curaleaf offers a brand new, 10-year triple net lease which will commence in August 2020. This lease has two, five-year renewal options with two percent annual rent increases throughout the base term and option periods. This is a new location, currently undergoing renovations and is scheduled to open Summer 2020.

 

The subject property is at an exceptional location along a strong retail corridor on Brandon Boulevard with a daily traffic count of more than 60,000 vehicles. Surrounding national retailers include Home Depot, Walmart Supercenter, Lowe’s, Best Buy, Sam’s Club, Publix, TJ Maxx, Marshall’s, Michael’s, Staples, AMC Movie Theater, Red Lobster, Chili’s Grill & Bar, Outback Steakhouse, Anthony’s Coal Fired Pizza, Chick-fil-A, McDonald’s, Walgreens, CVS and many more. This property is also two miles from Brandon Regional Hospital, which is an over 400-bed full-service, emergency care facility serving the Brandon/Tampa area.

 

This Curaleaf is in a high growth submarket of Tampa, 14 miles from Downtown Tampa and the University of South Florida which has a current enrollment of more than 50,000 students. The Tampa metropolitan area contains roughly 3.1 million residents, and there is a population over 200,000 within five miles of the subject property

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