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Views: 49 DOM: 101 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 5.11
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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Maps

  • 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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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 663 13,583 49,067
2024 Total Population : 672 13,477 48,918
2024 Employed Civilian Pop : 305 7,473 26,850
2024 Total Businesses : 86 448 2,247
2024 Average Household Income : $ 180,654 $ 198,190 $ 167,751
2024 Total Consumer Spending : $ 41 M $ 796 M $ 2661 M
2024 Median Age : 47 48 46
2024 Total Households : 269 4,759 18,601
2024 Pop Age 25+: Bachelor's Degree : 194 3,298 11,317
2024 Average Home Value : $ 681,448 $ 814,329 $ 718,525
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
W Indiantown Rd Old Indiantown Rd 2019 24,281 0.04 mi
100th Ave N 176th Ct N 2017 11,257 0.19 mi
100th Ave N 176th Ct N 2016 11,200 0.28 mi
Jupiter Farms Road 176th Ct N 2019 13,127 0.41 mi
W Indiantown Rd 100th Ave N 2013 28,738 0.42 mi
Indiantown Road 109th Ter N 2020 25,000 0.83 mi
Indiantown Road 117th Dr N 2022 26,000 0.83 mi
Jupiter Farms Road Front St 2020 11,200 1.21 mi
Jupiter Farms Road 176th Ct N 2022 11,400 1.21 mi
Indiantown Road Taylor Rd 2022 36,500 1.22 mi

Listing Broker

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