Investment Highlights
- Long-Term, Triple Net (NNN) Lease with One, Five-Year Renewal Option
- 10 Percent Rent Increases Every Five Years Throughout Base Term and Option Period
- New Location Opening Fall 2020; Currently Under Renovation
- Medical Marijuana Dispensaries are Considered “Essential” Businesses During Coronavirus Pandemic
- Located on 36th Avenue with a Daily Traffic Count of Approx. 20,000 Vehicles
- Off Silver Springs Boulevard, the Major Roadway that Runs Through the Area, With a Daily Traffic Count of More Than 25,000 Vehicles
- Surrounding National Retailers Include Walmart Supercenter, Lowe’s, Publix, Aldi, Big Lots, Pet Supermarket, Staples, Harbor Freight Tools, Dollar General, Dollar Tree, Wawa, McDonald’s, Pizza Hut, McDonald’s. Taco Bell, CVS, Walgreens, Tire Kingdom, Pep Boys and Many More
Investment Overview
Marcus and Millichap is pleased to present the opportunity to acquire a brand new One Plant Cannabis Dispensary in Ocala, FL. During these uncertain times this is a great investment because medical marijuana dispensaries remain open as they are considered “essential” businesses.
One Plant features a brand new, 10-year, triple net lease with one, five-year renewal option and 10 percent rent increases every five years throughout the base term and option period. This location is currently under renovation and scheduled to open Fall of 2020.
The subject property is at an exceptional location along a strong retail corridor, directly across the street from a new Wawa Gas Station. Other surrounding national retailers including Walmart Supercenter, Lowe’s, Publix, Aldi, Big Lots, Pet Supermarket, Staples, Harbor Freight Tools, Dollar General, Dollar Tree, Wawa, McDonald’s, Pizza Hut, McDonald’s. Taco Bell, CVS, Walgreens, Tire Kingdom, Pep Boys and many more. This major retail corridor is located off 36th Avenue with a daily traffic count of approximately 20,000 vehicles; and located near the entrance ramp to Silver Springs Boulevard, the major roadway that runs through the area, with a daily traffic count of more than 25,000 vehicles.
Ocala, Florida is located in the center of the state, with the subject property 40 miles South of Gainesville, 70 miles West of Daytona Beach, and 80 miles North of Tampa. The property is nine miles from Ocala International Airport which recently underwent a $6 million renovation; six miles from the College of Central Florida – Ocala Campus; and one-half mile down Silver Springs Boulevard from Ocala Golf Club. The Ocala Metro is the Horse Capital of the World. The equine industry has a yearly economic impact of $2.6 billion. Local retailers, Walmart and Publix, employ roughly 3,900 workers across several locations in the county, accounting for a substantial portion of the workforce. Walmart is among the metro’s largest employers.
