Sanctuary Cannabis

10064 West Indiantown Road, Jupiter, FL 33478

$2,840,705

Cap Rate 8.50%

Views: 22 DOM: 33 Updated: 08.16.24 Posted: 08.14.24 Status: Active

Summary

Price $2,840,705	Built/Renov 2004	Tenant Sanctuary Cannabis
Cap Rate 8.50%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 3,120	Lease Start 10-16-2020	#Units 29
Price/SF $910.48	Expiration 10-31-2030	Tenant Type General Retail
NOI $241,460	R. Term 6.1	Ownership Fee Simple
Rent/SF $77.39	Increases 2.3%/1/yrs	Pop 5Mi 48,918
Lot/AC 0.49	Options 4/5yrs/2.33%	AHHI 5Mi $167,751

Lease Highlights

Sanctuary Cannabis has 6+ years remaining on the current lease term with 4 (5-year) options to extend
The lease features 2.33% annual rent escalations throughout the initial term and option periods
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Sanctuary Cannabis is strategically located on W Indiantown Road, with access to 25,937 vehicles passing by daily. The property is positioned at the entrance to a Publix-anchored shopping center, which features well-known national tenants including Jersey Mike’s Subs, Napa Auto Parts, McDonald’s, and more. The 5-mile trade area supports a population of 48,918 residents with an affluent average...

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Key Features

Near major nationals
Shopping Ctr out-parcel
Strategically located
Top 100 MSA
Affluent AHHI $100K 5 Mi
Income tax free state
Absolute NNN
Annual rent increases
Corporate Guarantee
Over 500 units backed

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Links

Sanctuary Cannabis Wikipedia Jupiter, Florida Zip Code 33478 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Sanctuary Cannabis
Guarantor:Corporate
Company:Sanctuary Medicinals, LLC
# Units:29
Stock:Private

About Tenant

Sanctuary Medicinals, LLC (dba Sanctuary Cannabis) is a vertically integrated cannabis company with operations in Florida, New Hampshire, and Massachusetts. Founded in 2015, the company is...

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Listing Broker

Christian Tremblay

Northmarq

Contact

32 Listings
2134 Views
0 Sold

BJ Feller

Northmarq

Contact

56 Listings
4636 Views
8 Sold

Christian Tremblay

Christian Tremblay is a vice president located in Northmarq’s Chicago office. Christian specializes in the disposition and acquisition of single-tenant net lease retail, cannabis and industrial properties throughout the United States. Christian has closed more than $500 million in total transaction volume. Before Northmarq, Christian served as a director in Stan Johnson Company’s Chicago office. Prior to Stan Johnson Company, Christian was a vice president with Mid-America Real Estate Corpo

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BJ Feller

BJ Feller is a Senior Vice President and Managing Director of Northmarq’s Chicago office, leading a team of professionals specializing in the disposition and acquisition of net lease retail, office and industrial properties nationally. Feller represents a broad range of institutional, private, and international clients, and has completed transactions in excess of $4.5 billion across 39 states, consistently providing strong results for clients. Before joining Northmarq, Feller served as Managing

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Isaiah Harf

Northmarq

Contact

61 Listings
5179 Views
16 Sold

Isaiah Harf

Isaiah Harf is the Regional and Managing Director for Northmarq’s Chicago office and has been with the firm since October 2011. Focusing on the sale of net leased assets, Harf has closed more than $3 Billion in total transaction volume and has partnered with some of the nation’s most respected and trusted institutions, private equity managers and merchant developers. As one of the lead business development and execution specialists for the team, Harf provides extensive knowledge to buyers and s

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