MüV Dispensary

127 U.S. Highway 17-92 West, Haines City, FL 33844

$1,302,000

Cap Rate 6.45%

Views: 103 DOM: 314 Updated: 08.16.24 Posted: 11.10.23 Status: Active

Summary

Price $1,302,000	Built/Renov 1982/2023	Tenant MüV Dispensary
Cap Rate 6.45%	Lease Type Abs NNN	Guarantor Corp Traded
Size/SF 3,029	Lease Start 11-14-2023	#Units 150
Price/SF $429.84	Expiration 11-30-2034	Tenant Type Medical/Health
NOI $84,000	R. Term 10.2	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...

...

Key Features

Recent renovation
Dense retail corridor
Near major nationals
Highway location
Top 100 MSA
Income tax free state
Brand new lease
Absolute NNN
Long 10+ yr lease
Corporate Guarantee

...

Links

MüV Dispensary Wikipedia Haines City, Florida Zip Code 33844 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: MüV Dispensary
Guarantor:Corp Traded
Company:Verano Holdings Corp.
# Units:150
Stock:CNSX: VRNO

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...

...

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

Patrick Nutt

SRS National Net Lease Group

Contact

250 Listings
21515 Views
83 Sold

William Wamble

SRS National Net Lease Group

Contact

175 Listings
16185 Views
40 Sold

Patrick Nutt

Patrick Nutt joined SRS as executive vice president for the National Net Lease Group and market leader in the Fort Lauderdale office in 2019. He leads the Fort Lauderdale office where he is tasked with recruiting and expansion efforts in the region and elevating the SRS brand throughout Florida. Additionally, Patrick Co-heads the National Net Lease Group for SRS, a group of 50 investment sales professionals who in 2020 managed over 500 transactions with an aggregate value of nearly $2 Billion

...

William Wamble

Will Wamble joined SRS in early 2019 and specializes in the advisory and sale of net leased properties, specifically in the Southeast. With more than $350M worth of transactional experience in his career, Will prides himself on valuing hard work and dedication to his clients. Will emphasizes collaboration and putting the best team together to find creative solutions to getting transactions completed. He started his commercial real estate career in 2013 with Marcus & Millichap where he focus

...

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT