Surterra Wellness | Medical Marijuana Dispensary Port Charlotte,Florida

$1,960,000
Available
Property type:Single-Tenant Net Lease

The space

  • Listing Price: $1,960,000
  • NOI: $127,380
  • Cap Rate: 6.50%
  • Lease Type: Double Net
  • Guarantor: Corporate Guarantee
  • Rentable Square Feet: 6,000
  • Lot Size: 0.34 Acres (14,810 SF)
  • Year Built/Reno: 1975/2022

Description

3890 Tamiami Trail
Port Charlotte, Florida 33952

Investment Highlights

  • Long-Term Lease With Two Percent Annual Rent Increases Throughout Base Term and Option Periods
  • New Location for Surterra With Renovations That Will be Done by Tenant
  • Surterra Wellness is One of the Nation’s Fastest Growing Health and Wellness Companies
  • One Mile from South Port Square Retirement Community, Home to Approx. 660 Residents and 1.5 Miles from Truewood by Merrill, a Senior Care Facility With 125 Residents
  • Located on Tamiami Trail With a Daily Traffic Count of 46,500 Vehicles
  • Surrounding National Retailers Include Publix Super Market, Winn-Dixie, YouFit Gym, West Marine, Pet Supermarket, Rooms To Go, Dollar Tree, Dollar General, Tuesday Morning, Beall’s Outlet, Bank of America, Wells Fargo, Tire Kingdom, AutoZone, McDonald’s, KFC, Wendy’s, Dunkin’ Donuts and Many More

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire Surterra Wellness Medical Marijuana Dispensary located in Port Charlotte, Florida. This Surterra Wellness offers a long-term lease with two percent annual rent increases throughout the base term and option periods. This is a new location that will be renovated by tenant with opening planned by year-end 2022.

Surterra Wellness is focused on unlocking the natural health benefits of the cannabis-based ingredients. Surterra Wellness is one of the nation’s fastest growing health and wellness companies, operating 40 locations with vertical operations in Florida. Parallel is the parent company of Surterra and has operations in five medical and adult-use markets under the retail brands: Surterra Wellness in Florida, Goodblend in Texas and Pennsylvania, New England Treatment Access (NETA) in Massachusetts and The Apothecary Shoppe in Nevada.

The subject property is located just one mile from South Port Square Retirement Community, home to approximately 660 residents, 1.5 miles from Truewood by Merrill, a senior care facility with 125 residents, and six miles from Florida SouthWestern State College with a 16,672-student enrollment and 824 faculty and staff. Surrounding national retailers include Publix Super Market, Winn- Dixie, YouFit Gym, West Marine, Pet Supermarket, Rooms To Go, Dollar Tree, Dollar General, Tuesday Morning, Beall’s Outlet, Bank of America, Wells Fargo, Tire Kingdom, AutoZone, McDonald’s, KFC, Wendy’s, Dunkin’ Donuts and many more.

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