AYR Cannabis Dispensary

21529 Village Lakes Shopping Center Drive, Land O' Lakes, FL 34639

$3,487,150

Cap Rate 7.51%

$3,550,000

Cap Rate 7.38%

DOM: 97 Updated: 12.15.23 Posted: 08.17.23 Status: Sold 11.22.23

Summary

Price $3,487,150 $3,550,000	Built/Renov 1989/2022	Tenant AYR Cannabis Dispensary
Cap Rate 7.51% 7.38%	Lease Type Abs NNN	Guarantor Corp Traded
Size/SF 4,029	Lease Start 04-19-2023	#Units 83
Price/SF $865.51 $881.11	Expiration 04-18-2037	Tenant Type Medical/Health
NOI $261,885	R. Term 11.11	Ownership Fee Simple
Rent/SF $65.00	Increases 10.0%/4/yrs	Pop 5Mi 102,354
Lot/AC 0.45	Options 3/5yrs/10%	AHHI 5Mi $128,691

Isaiah Harf

Northmarq

Contact

Lease Highlights

Recent renovation 2022
Tenant has over 13 years remaining on its current lease term with 3 (5-year) options to renew
Lease features an increase of 10% every 5 years and at the beginning of each option
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed by AYR Wellness, Inc. (OTCMKTS: AYRWF)
Florida is an income tax-free state

Location Description

AYR Cannabis is situated along Florida State Route 54, and benefits from excellent access and visibility from the highway. Florida State Route 54 is a primary east/west thruway for Land O' Lakes and its surrounding areas and sees over 52,473 VPD. Additionally, the site is positioned as an outparcel to a strip center that is tenanted by several national retailers, including Marshalls, Ross...

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Key Features

Recent renovation
High traffic 50M+ VPD
Near major nationals
Shopping Ctr out-parcel
Highway location
Top 100 MSA
Affluent AHHI $100K 5 Mi
Income tax free state
Long 10+ yr lease
Publicly traded company

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Links

AYR Wellness Wikipedia Land O' Lakes, Florida Zip Code 34639 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: AYR Cannabis Dispensary
Guarantor:Corp Traded
Company:AYR Wellness Inc.
# Units:83
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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Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
State Hwy 54	Daiquiri Ln	2003	29,000	0.34 mi
State Hwy 54	Land O Lakes Blvd	2011	53,500	0.34 mi
Land O Lakes Blvd	Carson Dr	2009	43,500	0.39 mi
Land O Lakes Blvd	Mariner Pl	2009	50,833	0.39 mi
Land O Lakes Blvd	Sunset Ct	2011	59,000	0.44 mi
State Hwy 54	Land O Lakes Blvd	2011	48,000	0.45 mi
FL 54	Daiquiri Ln	2021	61,500	0.52 mi
Brinson Rd	Leonard Rd	2011	7,100	0.57 mi
North Dale Mabry Highway	Land O Lakes Blvd	2021	4,900	0.62 mi
North Dale Mabry Highway	Dale Mabry Hwy	2021	4,900	0.65 mi

Listing Broker

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