Trulieve Plaza Kissimmee,Florida

$4,120,000
Available
Property type:Multi-Tenant / Shopping Center

The space

  • Listing Price: $4,120,000
  • Net Operating Income: $247,200
  • Cap Rate: 6.00%
  • Rentable Square Feet: 8,000
  • Price PSF: $515.00
  • Parking Spaces: 28
  • Land Area: 0.703 Acres
  • Year Built: 2010
  • # of Suites: 3

Description

51-65 North Doverplum Avenue
Kissimmee, FL 34758

Investment Highlights

  • 8,000 SF of Multi-Tenant Retail, 100% Occupied and Anchored by Trulieve Cannabis Corp.
  • New Monument Sign Coming Soon
  • Entire Exterior Has Recently Been Painted
  • All Tenants Have Guaranteed Triple Net Leases With 3% Annual Rent Increases
  • Trulieve Has Exclusive Rights to This County, There Will Not Be Another Dispensary Allowed Within This Entire County and There is No Other Dispensary or Trulieve Location Anywhere Close to this Site
  • Just Off Cypress Parkway With a Daily Traffic Count of More Than 36,500 Vehicles
  • Conveniently Located Between The Fountains at San Remo Court Apartment-Homes (Made Up of 140 Units), and Publix-Anchored Center (Other National Tenants Including The UPS Store, Wendy’s and Pinch A Penny)
  • Part of the Orlando Metro Area – One of the Largest and Fastest Growing Areas in Florida With More Than 2.4 Million Residents

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire Trulieve Plaza, a multi-tenant retail center located in Kissimmee, FL. The Subject Property includes approximately 8,000 square feet of space and is 100 percent occupied and anchored by Trulieve Cannabis Corp., the leader of medical marijuana sales in Florida. All tenants have guaranteed triple net (NNN) leases with three percent annual rent increases. The entire exterior of the property has recently been repainted. In addition, there will be a new monument sign coming soon.

Trulieve has exclusive rights to the entire county of Osceola and is only allowed three dispensaries total within the county. All three of these dispensaries have been placed and there will not be another dispensary allowed within the entire county. There are no other dispensaries or Trulieve locations within close proximity to this site.

Located in the Orlando metro area, the Subject Property is part of one of the largest and fastest growing areas in Florida. The Orlando metro has a population of more than 2.4 million residents and is expected to increase by more than 218,000 over the next five years. The Property is four miles from Valencia College, Poinciana Campus – recognized nationally as the “best community college in America”, also one of the largest with more than 76,000 students enrolled across eight campuses in Central Florida.

Trulieve Plaza is conveniently located between The Fountains at San Remo Court Apartment-Homes (made up of 140 units), and a Publix-anchored center with tenants including The UPS Store, Wendy’s, Pinch A Penny plus others. The Property is in a high traffic area with other surrounding national retailers including Walmart Supercenter, Lowe’s, Aldi, Anytime Fitness, Hibbett Sports, Rent-A-Center, Dollar General, T-Mobile, AT&T Store, Advance Auto Parts, Wells Fargo, Chase, Bank of America, Chipotle, Burger King, Denny’s, Dunkin’, Wawa, CVS, Walgreens and many more.

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