HT Medical Cannabis Spring Hill,Florida

$1,092,000
Available
Property type:Single-Tenant Net Lease

The space

  • Listing Price: $1,092,000
  • NOI - Current: $65,520
  • Cap Rate - Current: 6.00%
  • Lease Type: Triple Net (NNN)
  • Guarantor: Corporate Guarantee
  • Rentable Square Feet: 2,520
  • Lot Size: 0.35 Acres (15,246 SF)
  • Year Built: 1986/2020

Description

10520 Spring Hill Drive
Spring Hill, FL 34608

Investment Highlights

  • NNN Lease with Approx. Eight Years Remaining | Two, Five-Year Tenant Renewal Options
  • 10 Percent Rent Increases in Year Six and Every Five Years Following Throughout Base Term and Option Periods
  • Building Renovated by Tenant in 2020, Now Open! | Red White & Bloom is Positioning Itself to Be One of the Top Three Multi-State Cannabis Operators Active in the U.S.
  • Population Nearly 125,000 in Five Miles of Subject Property | The Area is Served by Bravera Health, a Network Composed of Three Hospitals, and a Combined 372 Licensed Beds and Nearly 800 Physicians – Less Than Three Mile from Bravera Health Spring Hill Hospital
  • Six Miles from Pasco-Hernando State College Spring Hill Campus, With a Total Enrollment of 11,557 Students Across Five Campuses. Seven Miles from Heather Golf Club, and Oak Hill Hospital, a 350-Bed Facility Providing a Range of Services Through its Heart Institute, Orthopedic & Spine Institute, Maternity Suites, Cancer Institute, Women’s Imaging Center, Pediatric ER and Adult ER
  • Surrounding National Retailers Include Winn Dixie, Publix, Planet Fitness, Buddy’s Home Furnishings, Dollar Tree, Dollar General, T-Mobile, Wing Stop, McDonald’s, Taco Bell, Applebee’s, Starbucks, Dunkin’ Donuts, Walgreens, CVS, Bank of America and Many More

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a HT Medical Cannabis in Spring Hill, FL. This listing offers a triple net lease with approximately eight years remaining and two, five-year tenant renewal options. There are ten percent rent increases every five years throughout base term and option periods.

The Subject Property will be operated by Red White & Bloom who is doing business in Florida as HT Medical Cannabis. The company is positioning itself to be one of the top three multi-state cannabis operators active in the U.S. Red White & Bloom is predominately focusing its investments on major markets in the U.S., including Michigan, Illinois, Massachusetts, California, and Florida.

The population is nearly 125,000 within five miles of the subject property. The area is served by Bravera Health, a network composed of three hospitals, and a combined 372 licensed beds and nearly 800 physicians. The property is less than three miles from Bravera Health Spring Hill Hospital and six miles from Pasco-Hernando State College Spring Hill Campus with a total enrollment of 11,557 students across five campuses.

Surrounding national retailers include Winn Dixie, Publix, Planet Fitness, Buddy’s Home Furnishings, Dollar Tree, Dollar General, T-Mobile, Wing Stop, McDonald’s, Taco Bell, Applebee’s, Starbucks, Dunkin’ Donuts, Walgreens, CVS, Bank of America and many more.

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