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Views: 74 DOM: 245 Updated: 07.09.24 Posted: 11.10.23 Status: Active

Summary

Price $1,322,800
Built/Renov 1982/2023
Tenant MüV Dispensary
Cap Rate 6.35%
Lease Type Abs NNN
Guarantor Corp Traded
Size/SF 3,029
Lease Start 11-14-2023
#Units 150
Price/SF $436.71
Expiration 11-30-2034
Tenant Type Medical/Health
NOI $84,000
R. Term 10.4
Ownership Fee Simple
Rent/SF $27.73
Increases 3.0%/1/yrs
Pop 5Mi 71,913
Lot/AC 0.59
Options 2/5yrs/3%
AHHI 5Mi $75,495

Lease Highlights

  • 2023 renovations
  • MüV Dispensary recently signed a brand new 11-year lease with 2 (5-year) options to extend
  • Lease features 3% annual rental increases throughout the initial term and each option
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

MÜV is strategically located, fronting US Hwy 17 which averages 29,000 vehicles passing by daily. It is also within close proximity to Highway 27 which sees an additional 57,500 vehicles daily. The US Hwy 17 trade area is supported by retailers like Publix, Bealls, Circle K, Truist, and more, creating a strong consumer drive to the trade area. The property will benefit from being less...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

MÜV Dispensary is a fully-integrated medical cannabis cultivator and dispensary based in Florida. MÜV Dispensaries by AltMed Florida was formed in 2016 through the partnership of AltMed...


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Traffic

Collection Street Cross Street Year Traffic Vol Distance
TerDr 2022 29,000 0.07 mi
South 1st Street S 1st St 2022 1,800 0.20 mi
Lee Jackson Memorial Highway 4th St N 2022 500 0.26 mi
North 5th Street 5th St N 2022 950 0.31 mi
Oak Avenue 5th St 2022 350 0.31 mi
Jones Avenue Bay St 2022 9,000 0.33 mi
West Florida Avenue S F St 2022 1,050 0.42 mi
Park Place 6th St N 2022 4,200 0.43 mi
McKay Drive Lyle Ave 2022 1,050 0.52 mi
Park Place 7th St N 2022 9,000 0.53 mi

Listing Broker

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