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Views: 42 DOM: 52 Updated: 07.09.24 Posted: 05.21.24 Status: Active

Summary

Price $2,830,000
Built/Renov 2020
Tenant Zen Leaf Dispensary
Cap Rate 7.50%
Lease Type Double NN
Guarantor Corp Traded
Size/SF 10,606
Lease Start 05-01-2021
#Units 75
Price/SF $266.83
Expiration 05-31-2031
Tenant Type General Retail
NOI $212,242
R. Term 6.10
Ownership Fee Simple
Rent/SF $20.01
Increases 2.0%/1/yrs
Pop 5Mi 71,458
Lot/AC 0.87
Options 4/5yrs/2%
AHHI 5Mi $78,665

Lease Highlights

  • Zen Leaf Dispensary has 7 years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 2% annual rental escalations throughout the initial term and option periods
  • NN Leased | Minimal landlord responsibilities 
  • Corporate guaranteed lease

Location Description

Zen Leaf Dispensary is strategically located at the signalized, hard corner intersection of Plank Road/U.S. Highway 220, with access to a combined daily traffic count of 29,100 vehicles. The property is positioned as an outparcel to Logan Valley Mall, a large shopping mall anchored by Macy’s and JCPenney, among others. Additionally, it is situated across from Park Hills Plaza, a...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Zen Leaf Dispensary is a fully integrated medical cannabis dispensary providing a variety of products to medical and adult use clients in the form of cannabis-infused products such as vapes and...


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Listing Broker

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