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Views: 104 DOM: 186 Updated: 10.16.24 Posted: 05.21.24 Status: Active

Summary

Price $2,830,000
Built/Renov 2020
Tenant Zen Leaf Dispensary
Cap Rate 7.50%
Lease Type Double NN
Guarantor Corp Traded
Size/SF 10,606
Lease Start 05-01-2021
#Units 75
Price/SF $266.83
Expiration 05-31-2031
Tenant Type General Retail
NOI $212,242
R. Term 6.6
Ownership Fee Simple
Rent/SF $20.01
Increases 2.0%/1/yrs
Pop 5Mi 71,458
Lot/AC 0.87
Options 4/5yrs/2%
AHHI 5Mi $78,665

Lease Highlights

  • Zen Leaf Dispensary has 6+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 2% annual rental increases throughout the initial term and option periods
  • NN Leased | Minimal landlord responsibilities 
  • Corporate guaranteed lease

Location Description

Zen Leaf Dispensary is strategically located at the signalized, hard corner intersection of Plank Road/U.S. Highway 220, with access to a combined daily traffic count of 29,100 vehicles. The property is positioned as an outparcel to Logan Valley Mall, a large shopping mall anchored by Macy’s and JCPenney, among others. Additionally, it is situated across from Park Hills Plaza, a...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Zen Leaf Dispensary is a fully integrated medical cannabis dispensary providing a variety of products to medical and adult use clients in the form of cannabis-infused products such as vapes and...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 4,734 34,064 69,398
2024 Total Population : 4,856 34,792 70,853
2024 Employed Civilian Pop : 2,272 16,359 33,165
2024 Total Businesses : 536 2,215 3,433
2024 Average Household Income : $ 82,206 $ 82,803 $ 79,552
2024 Total Consumer Spending : $ 163 M $ 1113 M $ 2162 M
2024 Median Age : 48 46 45
2024 Total Households : 2,262 15,159 30,530
2024 Pop Age 25+: Bachelor's Degree : 716 5,113 9,033
2024 Average Home Value : $ 221,022 $ 214,013 $ 213,311
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Good Lane Good Ln 2022 3,850 0.09 mi
Good Lane Goods Ln 2022 3,850 0.09 mi
W Plank Rd Goods Ln 2017 24,448 0.12 mi
Orchard Avenue Sterling St 2021 4,656 0.12 mi
Sunset Dr 2022 19 0.21 mi
W Plank Rd 2021 4,613 0.23 mi
Aberdeen St 2021 25,461 0.23 mi
W Plank Rd 2021 4,235 0.26 mi
Irwin Dr 2021 3,241 0.28 mi
West Plank Road Logan Valley Mall 2021 16,878 0.31 mi

Listing Broker

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