Miscellaneous
Sunburn Cannabis
1390 NW Federal Hwy, Stuart, FL 34994
Listing Price: $3,600,000
Investment Overview
Marcus & Millichap is pleased to present the opportunity to invest in a brand-new, fully renovated Sunburn Cannabis dispensary in Stuart, Florida. The landlord recently completed an extensive $600,000+ renovation including a new roof, HVAC, windows, electrical, plumbing, and luxury interior finishes, ensuring long-term integrity and reduced capital needs. Beyond the stability of a new 15-year lease with 3% annual rent bumps (increasing to 5% if cannabis sales become legal in FL with tenant offering for sale to the public), investors can benefit from accelerated and bonus depreciation for meaningful near-term tax advantages (consult with your tax advisor).
Sunburn Cannabis is a fast-growing, premium Florida cannabis operator with strong financial backing—this asset combines strong tenancy with explosive industry upside. In March 2024, Sunburn secured $34 million in debt financing from AFC Gamma to refinance debt, strengthen working capital, and support strategic expansion in Florida and other markets. Today, Sunburn Cannabis operates 16 dispensaries across Florida with additional locations planned.
Located on Federal Highway (U.S. 1), with ~57,000 vehicles per day, the property sits in the heart of Stuart’s dominant retail corridor, surrounded by some of the nation’s most recognized brands. Within minutes, shoppers and visitors have access to Publix, Target, Walmart Supercenter, Lowe’s, The Home Depot, BJ’s Wholesale, Sam’s Club, Aldi, The Fresh Market, Best Buy, Dick’s Sporting Goods, Chick-fil-A, Starbucks, LongHorn Steakhouse, Chili’s, and many others. The Property is only 1.5 miles from Treasure Coast Square Mall with over 115 retailers, a 16-screen Regal Cinema, and the newly opened Elev8Fun family entertainment center—drawing families, tourists, and regional shoppers from across Martin County.
Hospitality demand is equally strong. The property is within walking distance of Hampton Inn & Suites and Home2Suites by Hilton, offering convenient lodging for visitors to Stuart’s growing healthcare, tourism, and recreation sectors. The corridor is also within close reach of Cleveland Clinic Martin North Hospital, multiple golf courses, and the St. Lucie River waterfront—all fueling consistent activity around the site.
Sunburn Cannabis
Investment Highlights
- New 15-Year Lease – with 4, 5-year renewal options and annual rent increase of 3% (up to 5% if cannabis sales become legal in FL with tenant offering for sale to the public)
- $600K+ in LL Renovations – Brand-new roof, HVAC, windows, electrical, plumbing, and over $100K in interior finishes; upgrades could support accelerated & bonus depreciation opportunities for investors
- Prime Federal Hwy Location – Exceptional visibility on U.S. 1, premier retail corridor traveled by ~57,000 VPD and surrounded by national tenants – Publix, Target, Walmart, The Home Depot, and more
- Explosive Tenant Growth – Sunburn Cannabis operates 16 dispensaries across Florida with additional stores planned
- Strong Demographics – Within 1-mile, average household income already exceeds $110,000, projected to climb to $135,000+ by 2029; more than 55,000 people reside within a 3-mile radius
- Tourism & Lifestyle Magnet – Stuart, dubbed the "Sailfish Capital of the World," is celebrated for its waterfront charm, cultural scene, and high quality of life; Martin County attracts retirees, professionals, and year-round tourism
- Cash Flow Growth Built-In – Scheduled annual rent increases push investor yield from 7.64% in Year 1 to 11.55% by Year 15, ensuring rising income and a natural hedge against inflation
- Premium Industry Positioning – Sunburn was founded by Brady Cobb and a veteran team who previously built and sold Bluma Wellness for $213 million. The brand is deeply rooted in Florida culture and positioned as a "for Floridians, by Floridians" premium retail chain
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Listing Price: $3,600,000
Investment Highlights
- New 15-Year Lease – with 4, 5-year renewal options and annual rent increase of 3% (up to 5% if cannabis sales become legal in FL with tenant offering for sale to the public)
- $600K+ in LL Renovations – Brand-new roof, HVAC, windows, electrical, plumbing, and over $100K in interior finishes; upgrades could support accelerated & bonus depreciation opportunities for investors
- Prime Federal Hwy Location – Exceptional visibility on U.S. 1, premier retail corridor traveled by ~57,000 VPD and surrounded by national tenants – Publix, Target, Walmart, The Home Depot, and more
- Explosive Tenant Growth – Sunburn Cannabis operates 16 dispensaries across Florida with additional stores planned
- Strong Demographics – Within 1-mile, average household income already exceeds $110,000, projected to climb to $135,000+ by 2029; more than 55,000 people reside within a 3-mile radius
- Tourism & Lifestyle Magnet – Stuart, dubbed the "Sailfish Capital of the World," is celebrated for its waterfront charm, cultural scene, and high quality of life; Martin County attracts retirees, professionals, and year-round tourism
- Cash Flow Growth Built-In – Scheduled annual rent increases push investor yield from 7.64% in Year 1 to 11.55% by Year 15, ensuring rising income and a natural hedge against inflation
- Premium Industry Positioning – Sunburn was founded by Brady Cobb and a veteran team who previously built and sold Bluma Wellness for $213 million. The brand is deeply rooted in Florida culture and positioned as a "for Floridians, by Floridians" premium retail chain
Investment Overview
Marcus & Millichap is pleased to present the opportunity to invest in a brand-new, fully renovated Sunburn Cannabis dispensary in Stuart, Florida. The landlord recently completed an extensive $600,000+ renovation including a new roof, HVAC, windows, electrical, plumbing, and luxury interior finishes, ensuring long-term integrity and reduced capital needs. Beyond the stability of a new 15-year lease with 3% annual rent bumps (increasing to 5% if cannabis sales become legal in FL with tenant offering for sale to the public), investors can benefit from accelerated and bonus depreciation for meaningful near-term tax advantages (consult with your tax advisor). Sunburn Cannabis is a fast-growing, premium Florida cannabis operator with strong financial backing—this asset combines strong tenancy with explosive industry upside. In March 2024, Sunburn secured $34 million in debt financing from AFC Gamma to refinance debt, strengthen working capital, and support strategic expansion in Florida and other markets. Today, Sunburn Cannabis operates 16 dispensaries across Florida with additional locations planned. Located on Federal Highway (U.S. 1), with ~57,000 vehicles per day, the property sits in the heart of Stuart’s dominant retail corridor, surrounded by some of the nation’s most recognized brands. Within minutes, shoppers and visitors have access to Publix, Target, Walmart Supercenter, Lowe’s, The Home Depot, BJ’s Wholesale, Sam’s Club, Aldi, The Fresh Market, Best Buy, Dick’s Sporting Goods, Chick-fil-A, Starbucks, LongHorn Steakhouse, Chili’s, and many others. The Property is only 1.5 miles from Treasure Coast Square Mall with over 115 retailers, a 16-screen Regal Cinema, and the newly opened Elev8Fun family entertainment center—drawing families, tourists, and regional shoppers from across Martin County. Hospitality demand is equally strong. The property is within walking distance of Hampton Inn & Suites and Home2Suites by Hilton, offering convenient lodging for visitors to Stuart’s growing healthcare, tourism, and recreation sectors. The corridor is also within close reach of Cleveland Clinic Martin North Hospital, multiple golf courses, and the St. Lucie River waterfront—all fueling consistent activity around the site.
Exclusively Listed By
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