Shopping Strip

Trulieve

3119 N Davis Hwy, Pensacola, FL 32503

Listing Price: $1,504,000

Cap Rate
8.99%
Gross SF
11,672
Rentable SF
11,672
Price/Gross SF
$128.86
Lot Size
1.26 acres
Year Built
1972

Investment Overview

Marcus & Millichap is pleased to offer this two tenant flex retail center anchored by Truelieve Inc. The subject property is an approximately 11,672 square foot center located on a 1.26 acre lot. All the tenants are current on their rent and paying on time. Trulieve, operator of 66 locations nation-wide, is the main tenant of the center. Trulieve is corporately guaranteed and publicly traded on multiple platforms. Triple Net lease structure offers minimal landlord responsibility with annual increases in rents and two five-year options to extend. Remainder of space is occuppied by DocMJ, a tenant who provides affordable and direct patient access to medical marijuana recommendations to qualified patients across the state of Florida under the Amendment 2 guidelines. Currently at 27 locations DocMJ provides the most convenient, streamlined, and cost-effective solution for Floridians, and their mission is to provide the highest quality of care in the process. Both tenants create synergy by working together to increase revenues across the board.



Investment Highlights

  • Triple Net Leases | 3% Annual Increases
  • Corporate Guarantee | 66 Location Operator
  • Pro Rata Share | Tenant Pays Vendor Directly
  • Publicly Traded on the OTCQX and CSE

Exclusively Listed By

Listing Price: $1,504,000

Cap Rate
8.99%
Gross SF
11,672
Rentable SF
11,672
Price/Gross SF
$128.86
Lot Size
1.26 acres
Year Built
1972

Investment Highlights

  • Triple Net Leases | 3% Annual Increases
  • Corporate Guarantee | 66 Location Operator
  • Pro Rata Share | Tenant Pays Vendor Directly
  • Publicly Traded on the OTCQX and CSE

Investment Overview

Marcus & Millichap is pleased to offer this two tenant flex retail center anchored by Truelieve Inc. The subject property is an approximately 11,672 square foot center located on a 1.26 acre lot. All the tenants are current on their rent and paying on time. Trulieve, operator of 66 locations nation-wide, is the main tenant of the center. Trulieve is corporately guaranteed and publicly traded on multiple platforms. Triple Net lease structure offers minimal landlord responsibility with annual increases in rents and two five-year options to extend. Remainder of space is occuppied by DocMJ, a tenant who provides affordable and direct patient access to medical marijuana recommendations to qualified patients across the state of Florida under the Amendment 2 guidelines. Currently at 27 locations DocMJ provides the most convenient, streamlined, and cost-effective solution for Floridians, and their mission is to provide the highest quality of care in the process. Both tenants create synergy by working together to increase revenues across the board.



Exclusively Listed By

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