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Views: 0 DOM: 43 Updated: 11.28.23 Posted: 10.30.23 Status: Active

Summary

Price $3,952,000
Built/Renov 1990/2022
Tenant AYR Cannabis
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Corp Traded
Size/SF 3,335
Lease Start 07-30-2022
#Units 85
Price/SF $1,185.01
Expiration 07-30-2032
Tenant Type Medical/Health
NOI $276,639
R. Term 8.7
Ownership Fee Simple
Rent/SF $82.95
Increases 10.0%/4/yrs
Pop 5Mi 158,669
Lot/AC 0.69
Options 2/5yrs/10%
AHHI 5Mi $111,932

Lease Highlights

  • 2022 Renovations
  • AYR Cannabis recently signed a new 10-year lease with 2 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the initial term and in renewal options
  • Absolute NNN | Zero landlord responsibilities
  • The lease is corporately guaranteed by AYR Wellness, Inc. (CSE: AYR.A), a major vertically integrated multi-state cannabis operation in the U.S. (85+ Units)

Location Description

The subject property is conveniently located, fronting W. Lake Mary Blvd. (63,800 VPD) near the signalized intersection with Rinehart Blvd (28,000 VPD). Lake Mary Blvd. intersects with and provides direct on and off ramp access to Interstate 4, which sees 161,500 vehicles passing by daily. This asset is located in a dense retail corridor with surrounding national credit tenants such as Publix,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: AYR Cannabis
  • Guarantor:Corp Traded
  • Company:AYR Cannabis
  • # Units:85
  • Stock:"OTCMKTS: AYRWF """

About Tenant

AYR Wellness Inc. (CSE: AYR.A / OTC.AYRWF) is a vertically integrated, multi-state supplier of cannabis products operating as AYR Cannabis Dispensaries. Their focus is on high quality flowers and...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 10,174 65,569 162,235
2023 Total Population : 10,072 63,688 158,669
2023 Employed Civilian Pop : 6,257 36,047 85,504
2023 Total Businesses : 937 3,867 9,061
2023 Average Household Income : $ 109,725 $ 120,659 $ 111,932
2023 Total Consumer Spending : $ 380 M $ 2610 M $ 5893 M
2023 Median Age : 41 41 40
2023 Total Households : 4,048 25,299 61,231
2023 Pop Age 25+: Bachelor's Degree : 1,725 13,805 30,476
2023 Average Home Value : $ 374,607 $ 404,161 $ 393,262
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
W Lake Mary Blvd Waymont Ct 2012 42,443 0.25 mi
Rinehart Rd Feather Edge Loop 2012 22,932 0.43 mi
Lake Mary Boulevard N 9th St 2021 23,500 0.52 mi
West Lake Mary Boulevard I- 4 2022 23,500 0.52 mi
Longwood Lake Mary Rd Washington Ave 2012 10,593 0.53 mi
West Lake Mary Boulevard S Sun Dr 2022 17,600 0.57 mi
Lake Mary Boulevard S Sun Dr 2020 19,600 0.57 mi
Greenwood Blvd Canterbury Dr 2012 8,051 0.68 mi
Greenwood Boulevard Canterbury Dr 2022 7,000 0.74 mi
Greenwood Boulevard Mainsail Ct 2021 6,900 0.74 mi

Listing Broker

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