Investment Overview

Marcus & Millichap is pleased to present for sale this Absolute Net Leased Trulieve located at 615 E Elkcam Cir in Marco Island, Florida, within the Naples Metropolitan Statistical Area (MSA). The property features a 5,792-square-foot free-standing building situated on a 0.72-acre parcel of land. Located on the corner of E Elkcam Circle and 6th Avenue the property offers excellent accessibility with multiple points of ingress and egress. Situated directly across from Marco Town Center, which is anchored by Publix—the area’s dominant grocer, the property benefits from the center’s strong foot traffic, with an estimated 8,200 daily visits and 3.0 million annual visits. Strategically positioned within the area’s main retail hub, the property enjoys a central location surrounded by a diverse mix of national retailers, dining, and services, as well as a dense residential population. National retailers in the immediate vicinity include Publix, Truist, Starbucks, Tropical Smoothie Café, Subway, Bealls, Chase Bank, Dunkin, Fifth Third Bank, Walgreens, and numerous others. The subject property was renovated in 2024, coinciding with Trulieve’s execution of a brand-new 12-year absolute NNN lease. The lease runs through November 2037 and features attractive 3 percent annual rent increases. Trulieve is Florida’s first and leading medical cannabis company, operating in the third most populous state in the United States. With a vertically integrated “seed-to-sale” operation, Trulieve commands approximately 51 percent of the Florida market. The company offers an extensive product line of over 550 SKUs, continuously expanding with innovative and exciting additions. Trulieve’s expansive dispensary network and large delivery fleet provide essential access to thousands of patients across the state every day. Committed to growth, Trulieve actively identifies new locations to expand its dispensary footprint, ensuring more patients have convenient access to the medicine they need. With 83 stores in Florida and 87 nationwide, Trulieve’s strategic first-mover advantage delivers significant benefits, including strong brand recognition and media visibility. Backed by robust financial performance and a loyal customer base affectionately known as “Trulievers,” the company is well-positioned to sustain its growth trajectory and continue serving patients with dedication and innovation.