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Views: 197 DOM: 201 Updated: 10.24.24 Posted: 06.04.24 Status: Active

Summary

Price $3,245,000
Built/Renov 1988/2005
Tenant Cookies Dispensary
Cap Rate 7.70%
Lease Type NN+
Guarantor Corporate
Size/SF 3,202
Lease Start 05-28-2024
#Units 49
Price/SF $1,013.43
Expiration 05-31-2034
Tenant Type General Retail
NOI $249,900
R. Term 9.5
Ownership Fee Simple
Rent/SF $78.04
Increases 2.0%/1/yrs
Pop 5Mi 171,548
Lot/AC 1.02
Options 2/5yrs/2%
AHHI 5Mi $87,049

Lease Highlights

  • The tenant recently signed a brand new 10-year lease with 2 (5-year) options to extend

  • The lease features 2% annual rental increases throughout the initial term and option periods
  • Landlord responsibilities limited to roof & structure
  • Corporate guaranteed lease

Location Description

Cookies is strategically located at the signalized, hard corner intersection of 53rd Ave. E and 45th St E, with access to a robust combined daily traffic count of 81,200 vehicles. The property is catty-corner from a shopping center anchored by Walmart Supercenter, Wawa, Firestone, Burger King and more. The 5-mile trade area is supported by a population of 171,548 residents with an average...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Cookies Dispensary
  • Guarantor:Corporate
  • Company:Cookies, LLC
  • # Units:49
  • Stock:Private

About Tenant

Cookies, founded in 2010 by Billboard-charting rapper and entrepreneur Berner and Bay Area breeder and cultivator Jai, is the most globally recognized cannabis company in the world. The company...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 9,064 52,604 178,528
2024 Total Population : 8,818 51,276 173,896
2024 Employed Civilian Pop : 4,038 23,059 75,595
2024 Total Businesses : 332 2,291 7,648
2024 Average Household Income : $ 100,246 $ 100,421 $ 92,252
2024 Total Consumer Spending : $ 355 M $ 1903 M $ 6081 M
2024 Median Age : 56 52 47
2024 Total Households : 4,054 21,638 74,777
2024 Pop Age 25+: Bachelor's Degree : 1,753 8,406 24,928
2024 Average Home Value : $ 424,291 $ 417,254 $ 408,280
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
37th Street East 36th Blvd E 2022 2,800 0.63 mi
39th Street East 57th Dr E 2022 5,900 0.71 mi
36th St E 2022 46,000 0.73 mi
37th Street East 46th Plz E 2022 3,700 0.92 mi
53rd Ave E 56th Ct E 2022 52,788 0.95 mi
45th Street East 44th Ave E 2022 8,200 1.02 mi
44th Avenue East Useppa Dr 2022 1,150 1.09 mi
53rd Ave E 27th StCt E 2005 47,500 1.37 mi
60th Street East River Forest Cir 2022 9,500 1.41 mi
United States Highway 301 53rd Ave E 2005 31,000 1.49 mi

Listing Broker

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