Rise Dispensary 1208 NE 5th St
1,851 SF Retail Building Crystal River, FL 34429 $2,476,984 CAD ($1,338.19 CAD/SF) 7.25% Cap Rate
INVESTMENT HIGHLIGHTS
- There are over 8 years remaining on the base term of the lease, providing stability and security for investors.
- Limited Landlord responsibilities as the roof and HVAC were replaced before the Tenant began operations. Tenant pays for taxes, insurance
- The property sits on ±1.03 Acres and houses 28 parking spots. Whether used for a cannabis dispensary or other ventures
- 2.00% annual rental increases, providing investors with a hedge against inflation. CAP rate will increase roughly 15-20bps each year of ownership.
- Green Thumb Industries Inc (GTI) currently has +8 product brands, +90 dispensaries and +20 manufacturing facilities across 15 different states.
- The subject property sits on the hard signalized intersection of W Gulf to Lake Hwy (+31,500 VPD) and N Joyner Terrace.
EXECUTIVE SUMMARY
Broker of Record
Kyle Matthews
License No. CQ1066435 (FL)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
1600 West End,
Ste. 1500 Nashville, TN 37203
Kyle Matthews
License No. CQ1066435 (FL)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
1600 West End,
Ste. 1500 Nashville, TN 37203
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
1,851 SF
Building Class
C
Year Built/Renovated
2006/2023
Price
$2,476,984 CAD
Price Per SF
$1,338.19 CAD
Cap Rate
7.25%
NOI
$179,581 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
1.03 AC
Zoning
CH - Business
Parking
25 Spaces (13.51 Spaces per 1,000 SF Leased)
Frontage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
-
- Accommodation and Food Services
- -
- -
- -
Huddle House was founded in 1964 by John Sparks. Having already opened a few restaurants under various names, he needed a great name for his restaurant chain. One evening in Decatur, Georgia, he saw a boy meeting friends after football practice holding his helmet in one hand and a football in the other. It looked as if the group were "huddled up" talking and laughing together. It was at that moment he decided that Huddle House was the perfect name for the restaurant chain and it would be the place where folks would gather, or "huddle up," for great food and good times after Friday night football games. So, with its new name, was born.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
|
|
Accommodation and Food Services | - | - | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 17E-18S-22-0030-00000-0063 | Improvements Assessment | $518,680 CAD |
| Land Assessment | $427,048 CAD | Total Assessment | $945,727 CAD |
