Drug Store
Trulieve Cannabis Dispensary (Located Near GA & AL State Lines)
1141 Dunn Ave, Jacksonville, FL 32218
Listing Price: $1,457,142
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire a Trulieve Cannabis Dispensary located in Jacksonville, Florida. This property features a long-term, triple net (NNN) lease with two five-year tenant renewal options and two percent annual rent increases throughout the base term and option periods. This is a brand-new location anticipated to open on July 15, 2024. Trulieve is the #1 cannabis operator in Florida with 134 locations operating in the state with the next largest operator having just 74 locations.
Florida's legalization of recreational marijuana sales will be on the November ballot. If passed, recreational sales will begin in 2025. This location's proximity to the GA State Line (approximately 22 miles) could be advantageous if recreational sales are legalized. As the top operator in Florida, Trulieve will also benefit greatly should recreational sales become legal.
The lease is corporate guaranteed by Trulieve Inc., one of the largest and most profitable U.S. cannabis operators with nearly 200 dispensaries nationwide. Operating in nine states, the company expanded its reach by acquiring licenses in Connecticut, Pennsylvania, and West Virginia. Trulieve recently received a federal tax refund of approximately $113 million after challenging IRS guidelines for 280E.
The property benefits from its proximity to a population of 110,180 within three miles and nearly 200,000 within seven miles. Situated on Dunn Avenue, it experiences a high traffic flow, with approximately 35,000 vehicles passing daily. Additionally, its direct access to Interstate 95, a significant north-south roadway in Florida, facilitates transportation connections to downtown and Georgia.
Surrounding national retailers include Publix Supermarket, Harbor Freight Tools, Planet Fitness, Beall’s Outlet, Rent-A-Center, Rainbow Shops, Sam’s Club, Dollar Tree, Family Dollar, AutoZone, Advance Auto Parts, Bank of America, Wells Fargo, Chase Bank, McDonald’s, KFC, Popeyes Louisiana Kitchen, Wendy’s, Papa John’s Pizza, Dunkin’ Donuts, Starbucks, T-Mobile, CVS, Walgreens and many more.
Trulieve Cannabis Dispensary (Located Near GA & AL State Lines)
Investment Highlights
- Brand New Location, Projected Opening July 15, 2024
- Two Percent Annual Rent Increases Throughout Base Term and Option Periods
- New, Long-Term, Triple Net (NNN) Lease With Two, Five-Year Tenant Renewal Options
- Lease is Corporate Guaranteed by Trulieve Inc., the #1 Cannabis Operator in Florida With 134 Locations Operating in the State With Next Largest Operator Having 74 Locations
- Cannabis Will Be on November Ballot for Florida to Legalize Recreational Sales; As the Top Operator in Florida, Trulieve Will Benefit Greatly Should Recreational Sales Become Legal
- Population of 110,180 Within Three Miles of the Property, and Nearly 200,000 in Seven Miles
- High Traffic Area, Located on Dunn Avenue With a Daily Traffic Count of 35,000 Vehicles and Directly Off Interstate 95, a Major North-South Road in Florida Which Plays a Crucial Role in the City's Transportation Infrastructure – Connects the Property South to Downtown and North to Georgia
- Surrounding National Retailers Include Publix Supermarket, Harbor Freight Tools, Planet Fitness, Beall's Outlet, Rent-A-Center, Rainbow Shops, Sam's Club, Dollar Tree, Family Dollar, AutoZone, Advance Auto Parts, Bank of America, Wells Fargo, Chase Bank, McDonald's, KFC, Popeyes Louisiana Kitchen, Wendy's, Papa John's Pizza, Dunkin' Donuts, Starbucks, T-Mobile, CVS, Walgreens and Many More
Exclusively Listed By
Drug Store
Trulieve Cannabis Dispensary (Located Near GA & AL State Lines)
Listing Price: $1,457,142
Investment Highlights
- Brand New Location, Projected Opening July 15, 2024
- Two Percent Annual Rent Increases Throughout Base Term and Option Periods
- New, Long-Term, Triple Net (NNN) Lease With Two, Five-Year Tenant Renewal Options
- Lease is Corporate Guaranteed by Trulieve Inc., the #1 Cannabis Operator in Florida With 134 Locations Operating in the State With Next Largest Operator Having 74 Locations
- Cannabis Will Be on November Ballot for Florida to Legalize Recreational Sales; As the Top Operator in Florida, Trulieve Will Benefit Greatly Should Recreational Sales Become Legal
- Population of 110,180 Within Three Miles of the Property, and Nearly 200,000 in Seven Miles
- High Traffic Area, Located on Dunn Avenue With a Daily Traffic Count of 35,000 Vehicles and Directly Off Interstate 95, a Major North-South Road in Florida Which Plays a Crucial Role in the City's Transportation Infrastructure – Connects the Property South to Downtown and North to Georgia
- Surrounding National Retailers Include Publix Supermarket, Harbor Freight Tools, Planet Fitness, Beall's Outlet, Rent-A-Center, Rainbow Shops, Sam's Club, Dollar Tree, Family Dollar, AutoZone, Advance Auto Parts, Bank of America, Wells Fargo, Chase Bank, McDonald's, KFC, Popeyes Louisiana Kitchen, Wendy's, Papa John's Pizza, Dunkin' Donuts, Starbucks, T-Mobile, CVS, Walgreens and Many More
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire a Trulieve Cannabis Dispensary located in Jacksonville, Florida. This property features a long-term, triple net (NNN) lease with two five-year tenant renewal options and two percent annual rent increases throughout the base term and option periods. This is a brand-new location anticipated to open on July 15, 2024. Trulieve is the #1 cannabis operator in Florida with 134 locations operating in the state with the next largest operator having just 74 locations. Florida's legalization of recreational marijuana sales will be on the November ballot. If passed, recreational sales will begin in 2025. This location's proximity to the GA State Line (approximately 22 miles) could be advantageous if recreational sales are legalized. As the top operator in Florida, Trulieve will also benefit greatly should recreational sales become legal. The lease is corporate guaranteed by Trulieve Inc., one of the largest and most profitable U.S. cannabis operators with nearly 200 dispensaries nationwide. Operating in nine states, the company expanded its reach by acquiring licenses in Connecticut, Pennsylvania, and West Virginia. Trulieve recently received a federal tax refund of approximately $113 million after challenging IRS guidelines for 280E. The property benefits from its proximity to a population of 110,180 within three miles and nearly 200,000 within seven miles. Situated on Dunn Avenue, it experiences a high traffic flow, with approximately 35,000 vehicles passing daily. Additionally, its direct access to Interstate 95, a significant north-south roadway in Florida, facilitates transportation connections to downtown and Georgia. Surrounding national retailers include Publix Supermarket, Harbor Freight Tools, Planet Fitness, Beall’s Outlet, Rent-A-Center, Rainbow Shops, Sam’s Club, Dollar Tree, Family Dollar, AutoZone, Advance Auto Parts, Bank of America, Wells Fargo, Chase Bank, McDonald’s, KFC, Popeyes Louisiana Kitchen, Wendy’s, Papa John’s Pizza, Dunkin’ Donuts, Starbucks, T-Mobile, CVS, Walgreens and many more.
Exclusively Listed By
