Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a brand-new Sunnyside Medical Cannabis Dispensary in Cape Coral, FL. This is a new location which includes a drive-thru and was renovated by tenant in 2022 and recently opened. The property features a long-term triple-net (NNN) lease. The lease offers 2 percent annual rent increases in the base term and option periods. Cresco Labs has one of the biggest footprints in the U.S. and growing with 53 owned dispensaries across 10 States. This medical marijuana dispensary is located directly adjacent to a shopping center anchored by Publix, Ross and Dollar Tree, and features excellent access and visibility to more than 50,000 vehicles daily on Del Prado Boulevard, Cape Coral’s primary retail corridor. Surrounding national retailers include Walmart Supercenter, Publix, Aldi, HomeGoods, TJ Maxx, Beall’s, Ross, Staples, Planet Fitness, Pet Supermarket, Party City, Hobby Lobby, Applebee’s, Starbucks, Moe’s Southwest Grill, McDonald’s, Taco Bell, KFC, Chase Bank, Bank of America, Walgreens and many more. The surrounding area boasts an average household income of $83,296 in one mile of subject property and $84,360 in three miles, with a massive population density, nearly 185,000 in a five-mile radius. The property is located just two miles from Cape Coral Hospital, a 291-bed medical facility with more than 600 doctors and 1,200 employees, and 4.5 miles north of Downtown Cape Coral.